- PI Network broke out of a descending broadening wedge pattern and jumped 6% while major cryptocurrencies like Bitcoin and Ethereum declined over 1%.
- The breakout occurred above $0.1420 resistance level which aligns with the 50-period moving average, suggesting a potential short-term trend reversal.
- If PI holds above the $0.1420 support level, the next target is around $0.2047, representing a potential 40% upside move.
- Failure to maintain support above $0.14 could send the price back into consolidation and delay further gains.
Key Takeaways
- PI has broken out of a descending broadening wedge, signaling a potential short-term trend reversal.
- Holding above $0.1420 (former resistance + 50 MA) could confirm the breakout and open the path toward $0.2047.
- Failure to defend the $0.14 area may send price back into consolidation, delaying further upside.
In today’s crypto market, Pi Network (PI) has managed to stay in the spotlight with notable strength, even as majors like Bitcoin and Ethereum remain in the red with over 1% losses.
Meanwhile, PI has jumped roughly 6%, and more importantly, the latest chart structure suggests this move may only be the beginning.
Let’s take a closer look.
Descending Broadening Wedge Breakout Signals Trend Shift
On the 4-hour chart, PI spent the past few weeks consolidating inside a descending broadening wedge — a classic bullish reversal pattern that often appears near the end of prolonged pullbacks.
Price found strong demand near the lower boundary of the wedge around $0.1297, where buyers stepped in aggressively. That defense triggered a steady recovery, eventually leading to a clean breakout above the wedge’s descending resistance near $0.1420, which also aligned closely with the 50-period moving average.
Following the breakout, PI surged to a local high around $0.1527, where it faced resistance near the 100 MA — a typical reaction zone and often a precursor to a healthy breakout retest.
So far, this price behavior fits the textbook breakout playbook.
What’s Next for PI?
From a technical perspective, the structure remains constructive.
In the near term, PI may look to retest the breakout zone around $0.1420 and confirm it as new support — a common and healthy move after wedge breakouts.
If buyers manage to hold above:
- the former resistance turned support near $0.1420
- and the 50 MA
then the next key hurdle sits near $0.1527 (local high + 100 MA).
A successful reclaim of this area would strongly validate the breakout and could open the door toward the projected upside target around $0.2047, representing a potential 40% move from current levels.
Momentum traders will be watching closely to see whether volume expands on any push back above $0.1527 — a sign that bulls are ready for continuation.
Key Risk to Watch
While the breakout is encouraging, it still needs confirmation.
If PI fails to hold above the former wedge resistance and slips back below the $0.14 area, price could fall back into consolidation, delaying the next leg higher. A sustained move back inside the pattern would weaken the bullish thesis in the short term.
For now, however, buyers appear firmly in control — defending the breakout and keeping momentum tilted to the upside.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
About Author: Nilesh Hembade is the Founder and Lead Author of Coinsprobe, with over 5 years of experience in the cryptocurrency and blockchain industry. Since launching Coinsprobe in 2023, he has been providing daily, research-driven insights through in-depth market analysis, on-chain data, and technical research.
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