Mr.Abrash
09/06 08:29
Pi Network (PI) Poised for 200% Rally Ahead Accor
Pi Network (PI) Poised for 200% Rally Ahead
According to the technical analysis, PI is gaining traction as the price consolidates between the $0.32 and $0.33 range. After a long period of sideways trading, analysts are paying close attention as the asset is displaying various technical indications that often accompany large crypto market moves.
One of the clearest indications is the Bollinger Bands, which are tightening, the type of setup that usually indicates incoming volatility. Meanwhile, a double-bottom structure at the level of $0.3235 has formed, indicating that the buyers have twice defended the main support level.
Market watchers also note that the token’s structure appears consistent with Wyckoff accumulation, a pattern that indicates long-term investors may be building positions quietly.
If PI manages to breach its next level of resistance, momentum may quickly shift in favor of the bulls. Technical estimates point to the possibility of a surge to the $1 level, which would be almost a +200% jump from current levels. Such a breakout may also revive general interest on the part of investors in Pi Network, which has frequently been controversial and highly popular.
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