Date: Tue, July 22, 2025 | 07:10 AM GMT
The cryptocurrency market is taking a breather today after a strong multi-day rally, with Ethereum (ETH) slipping over 2% following a 24% gain over the last week. While most major altcoins are cooling off, Pi Network (PI) is drawing attention after lagging behind with prolonged weakness — and now flashing a possible bullish reversal.
PI has climbed 7% in the past 24 hours after a persistent 90-day decline, largely driven by inflationary pressures from large daily token unlocks. But more importantly, a potentially bullish fractal pattern is taking shape — one that mirrors PI’s explosive rally from May.
Fractal Suggests Bullish Move Ahead
On the daily chart, PI’s current setup looks nearly identical to its May 2025 price action. Back then, the token traded quietly within a falling wedge formation for weeks, sitting under the 100-period moving average (MA). Once it broke above the wedge and cleared the 100 MA, PI launched a powerful 144% rally, testing its long-term descending trendline resistance.
Now, a similar formation is unfolding. After grinding lower along its long-term descending trendline and consolidating within another multi-week falling wedge, PI has broken upward and is now pressing against the critical 50-day MA at $0.5319 — the very level that triggered its explosive rally back in May.
What’s Next for PI?
If the fractal continues to repeat, a breakout above the 50-day MA could trigger the next leg higher. The first target sits at the 100-day MA near $0.6243, representing a potential 27% move from current prices. Beyond that, it could unlock even stronger momentum.
However, confirmation remains key. Without a decisive breakout above the 50-day MA, PI may remain trapped in consolidation.
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