Date: Sat, June 21, 2025 | 06:15 AM GMT
The cryptocurrency market continues to show signs of bearish momentum as geopolitical tensions between Israel and Iran deepen. Ethereum (ETH), one of the market’s frontrunners, has pulled back sharply—sliding from a monthly high of $2,877 to around $2,425. Unsurprisingly, this wave of volatility has impacted altcoins as well, including Pi Network (PI), which is already struggling due to increased inflationary pressure from continued large token unlocks.
Over the past week, PI has declined by 8%, extending its monthly losses to around 34%. But beyond the red candles, a potentially bullish fractal is emerging — one that closely mirrors a previous explosive rally from May.
Fractal Suggests Bullish Reversal Ahead
A closer look at the 4-hour chart for PI reveals a structure that resembles its own May 2025 price behavior. Back then, the token was stuck in a multi-week correction and consolidation phase, trading quietly below its 100-period moving average (MA). Eventually, it broke through the 100 MA, triggering a powerful 170% rally that pushed it to test its long-term descending resistance trendline.
Fast forward to today: the setup looks nearly identical.
Once again, PI is consolidating within a broader downtrend, with price action drifting just below the 100 MA. A similar coil is forming near a horizontal support zone, and the current candle structure has been highlighted within a circular zone — just like the pre-breakout structure from May.
What’s Next for PI?
If this fractal plays out, PI could be poised for another upside attempt, possibly toward the $0.83 mark — where the long-term descending resistance trendline comes into play again.
However, for this bullish scenario to activate, PI must first reclaim the 100 MA ($0.5994) level with strong volume — just as it did during the last rally. Until that happens, the setup remains incomplete and traders should proceed with caution.
Given the shaken investor sentiment and high macro uncertainty amid geopolitical tension, clear confirmation is key before jumping in. A successful breakout above the 100 MA could mark a reversal in momentum, while rejection here may lead to further downside.
Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before investing in cryptocurrencies.
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