While the crypto market is still hesitating about which direction to take, Pi Network has drawn attention at a critical moment. After a spectacular bullish run followed by a sharp fall, the project is currently attracting attention due to a technical configuration rarely observed: a falling wedge, often seen as a reversal signal. This signal, combined with strong community news, has put the PI token in the spotlight of speculation about its bounce back potential.
Indicators signal a potential reversal
While the crypto market is experiencing a period of instability, the price of Pi Network has recorded a fall of more than 60% since May, down to $0.5370 on June 21, compared to the peak of $1.6675 achieved when speculation around this ecosystem peaked, just before the Consensus event in Toronto.
This bullish phase is driven by "expectations of important announcements related to the ecosystem". However, the hype quickly dissipated when the revelation about the launch of the Pi Network Ventures fund, which is backed by 100 million dollars, had an immediate disappointing impact on the price.
Furthermore, we also observed that trading volume fell on Saturday, June 21, to $74 million in 24 hours, compared to a peak of $3 billion last February after the launch. However, technical signals indicate a potential reversal and several key factors are worth highlighting:
MACD continues to fall, indicating low volatility, which is often understood as an accumulation phase;
The Donchian channel is tightening, another indicator shows the market is narrowing, leading to a strong breakout;
An image in the "falling wedge configuration signaling a reversal" can be clearly seen on the eight-hour chart, a pattern recognized as a classic bullish signal in technical analysis;
The bounce back could bring the price back to the $1 level, nearly 85% higher than the current level, if this scenario is confirmed;
Important technical threshold to watch: if Pi falls below $0.3940, the lowest in June, the bullish scenario will be invalidated.
The indicators on this chain paint a picture of an asset that is in the process of consolidation, with the potential to bounce back, but still depends on the reaction of the market and the community.
Pi Day 2 and the auction of the .pi domain draw attention
In addition to reading charts, some short-term fundamental events can create new momentum for the Pi Network. One of the main catalysts is Pi Day 2, scheduled to take place on June 28, a symbolic day also known as Tau Day, replacing the traditional Pi Day on March 14.
That day also coincided with the closing day of the auction for the .pi domain, an activity that is achieving success beyond expectations. In fact, more than 3 million bids have been recorded, including 123,000 active bids, a sign of real interest in the community.
These numbers reflect the enthusiasm surrounding the crypto symbol, but also the desire to anchor within a fully structured digital ecosystem.
At the same time, developers have highlighted several ongoing projects within the network. Among them, the FruityPi application, a match-three game, demonstrates the first specific applications of the infrastructure.
Furthermore, the Pi Network Ventures fund has been announced with the aim of funding startups operating within this ecosystem, although details about the beneficiaries or eligibility criteria have yet to be disclosed.
Finally, the macroeconomic context may support a general awakening of the crypto market. Christopher Waller, a Fed governor, stated on June 21 that the Federal Reserve might "consider cutting interest rates as early as July." This announcement is seen as a positive signal for risk assets, which Pi Network may benefit from indirectly.
It remains to be seen whether these factors are sufficient to convert speculative momentum into structural momentum. The combination of favorable technical analysis and event catalysts can indeed create a fertile foundation for a bounce back. However, the lack of official listings of cryptocurrencies on major exchanges, as well as limited access to tokens, continues to hinder institutional recognition. If the curve can restart, the medium-term challenge remains the credibility of the ecosystem and its ability to deliver on its promises.
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Electronic Money: The Pi Network shows technical signs of potential reversal
While the crypto market is still hesitating about which direction to take, Pi Network has drawn attention at a critical moment. After a spectacular bullish run followed by a sharp fall, the project is currently attracting attention due to a technical configuration rarely observed: a falling wedge, often seen as a reversal signal. This signal, combined with strong community news, has put the PI token in the spotlight of speculation about its bounce back potential. Indicators signal a potential reversal While the crypto market is experiencing a period of instability, the price of Pi Network has recorded a fall of more than 60% since May, down to $0.5370 on June 21, compared to the peak of $1.6675 achieved when speculation around this ecosystem peaked, just before the Consensus event in Toronto. This bullish phase is driven by "expectations of important announcements related to the ecosystem". However, the hype quickly dissipated when the revelation about the launch of the Pi Network Ventures fund, which is backed by 100 million dollars, had an immediate disappointing impact on the price. Furthermore, we also observed that trading volume fell on Saturday, June 21, to $74 million in 24 hours, compared to a peak of $3 billion last February after the launch. However, technical signals indicate a potential reversal and several key factors are worth highlighting: MACD continues to fall, indicating low volatility, which is often understood as an accumulation phase; The Donchian channel is tightening, another indicator shows the market is narrowing, leading to a strong breakout; An image in the "falling wedge configuration signaling a reversal" can be clearly seen on the eight-hour chart, a pattern recognized as a classic bullish signal in technical analysis; The bounce back could bring the price back to the $1 level, nearly 85% higher than the current level, if this scenario is confirmed; Important technical threshold to watch: if Pi falls below $0.3940, the lowest in June, the bullish scenario will be invalidated. The indicators on this chain paint a picture of an asset that is in the process of consolidation, with the potential to bounce back, but still depends on the reaction of the market and the community. Pi Day 2 and the auction of the .pi domain draw attention In addition to reading charts, some short-term fundamental events can create new momentum for the Pi Network. One of the main catalysts is Pi Day 2, scheduled to take place on June 28, a symbolic day also known as Tau Day, replacing the traditional Pi Day on March 14. That day also coincided with the closing day of the auction for the .pi domain, an activity that is achieving success beyond expectations. In fact, more than 3 million bids have been recorded, including 123,000 active bids, a sign of real interest in the community. These numbers reflect the enthusiasm surrounding the crypto symbol, but also the desire to anchor within a fully structured digital ecosystem. At the same time, developers have highlighted several ongoing projects within the network. Among them, the FruityPi application, a match-three game, demonstrates the first specific applications of the infrastructure. Furthermore, the Pi Network Ventures fund has been announced with the aim of funding startups operating within this ecosystem, although details about the beneficiaries or eligibility criteria have yet to be disclosed. Finally, the macroeconomic context may support a general awakening of the crypto market. Christopher Waller, a Fed governor, stated on June 21 that the Federal Reserve might "consider cutting interest rates as early as July." This announcement is seen as a positive signal for risk assets, which Pi Network may benefit from indirectly. It remains to be seen whether these factors are sufficient to convert speculative momentum into structural momentum. The combination of favorable technical analysis and event catalysts can indeed create a fertile foundation for a bounce back. However, the lack of official listings of cryptocurrencies on major exchanges, as well as limited access to tokens, continues to hinder institutional recognition. If the curve can restart, the medium-term challenge remains the credibility of the ecosystem and its ability to deliver on its promises.