- Pi Network (PI) is showing resilience amid broader crypto market pressure, with Ethereum declining 7% weekly to $4,375.
- PI is forming a Bearish Butterfly harmonic pattern on the daily chart, which despite its name often leads to bullish rallies before entering the Potential Reversal Zone.
- Key resistance lies at the 50-day moving average ($0.4005), with a breakout potentially opening the path to $0.5720 and $0.6395 targets.
- PI is displaying hidden bullish divergence on the RSI, suggesting underlying momentum may favor bulls as price holds higher lows while RSI shows lower lows.
Date: Sat, Aug 30, 2025 | 06:10 AM GMT
The cryptocurrency market remains under pressure as Ethereum (ETH) slid to $4,375 from its recent high of $4,954, marking a 7% weekly decline.
The downturn has weighed on several altcoins, yet Pi Network (PI) is showing early signs of resilience — and now the chart is flashing a harmonic pattern that could hint at a potential upside move.
Harmonic Pattern Hints at Potential Upside
On the daily timeframe, PI appears to be forming a Bearish Butterfly harmonic pattern. Despite its name, the CD-leg of this structure often unfolds as a bullish rally before entering the Potential Reversal Zone (PRZ).
The pattern began at Point X ($0.5180), dipped to Point A, rallied toward Point B, and then corrected lower to Point C near $0.3303. From there, PI has started to recover and is currently trading around $0.3659, with bulls eyeing the next key hurdle.
The immediate resistance is the 50-day moving average (MA) at $0.4005. A clean breakout and hold above this level could flip it into support, opening the door for a continuation move.
What’s Next for PI?
If buyers defend the C-point low ($0.3303) and reclaim the 50-day MA, PI could advance toward the 1.272 Fibonacci extension ($0.5720) and potentially stretch to the 1.618 extension ($0.6395) — levels that align with the completion of the Butterfly harmonic pattern.
Adding to the bullish case, PI is currently flashing a hidden bullish divergence on the Relative Strength Index (RSI). While price action holds higher lows, RSI posted lower lows, a classic signal that underlying momentum may favor the bulls.
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