Can Pi Network Bounce Back from Its Decline?

Jakarta, Pintu News – The price of Pi crypto has plummeted since the launch of its mainnet in February, turning one of the most popular coins into a fading coin.

Pi Network was trading at $0.3985 on Monday (Aug 11), down 87% from its highest level this year. However, citing the Crypto News page, technical analysis shows a possible recovery in the coming days.

Technical Analysis of Pi Network Price

According to Crypto News (12/8), the 12-hour chart shows that Pi crypto has formed several bullish patterns that could trigger a 154% spike from current levels. Pi has formed a double-bottom pattern at $0.40 and a neckline at $1.6640.

Read also: Pi Network Price Rises 4% Today: Is Pi Coin Set to Recover from Its All-Time Low?

The double-bottom consists of two lows, which in this case are at $0.40. In addition, there is a neckline at $1.6640, which was the highest level in May this year.

In addition, the Pi Network has also formed a large falling wedge pattern, which consists of two declining trend lines that are approaching each other. A bullish breakout occurs when these two lines almost meet.

Technical indicators also show the potential for big moves ahead. For example, the range of the three Bollinger Bands continues to narrow, which often precedes a breakout.

The Relative Strength Index (RSI) has moved from the oversold level of 19.7 to 52, while the two lines of the Percentage Price Oscillator have formed a bullish crossover and are moving upwards.

Most importantly, Pi Network is currently in an accumulation phase according to Wyckoff’s theory. This pattern is characterized by low volume and flat price movements.

Therefore, the most likely outlook is that Pi Network will surge and move towards the psychological level at $1, which is 154% higher than the current price.

Potential Catalyst for Pi Network

Read also: Can Pi Network Price Recover? Here’s the Strategy from Community Members

The first potential catalyst that could drive the price of Pi Network is the ongoing crypto market rally. Bitcoin (BTC) has approached an all-time high, and is likely to surpass it soon. The crypto rally and possible altcoin season will boost Pi and other tokens.

Another catalyst is the listing on a centralized exchange by one or more companies such as Binance, Coinbase, HTC, or Upbit. Historically, tokens often experience a sharp spike after being listed on an exchange.

For example, Floki surged last week after being listed on Robinhood, while TOSHI and Worldcoin (WLD) skyrocketed after listing on Binance.

Pi Network’s price could also rise if the developers announce further decentralization measures and token sale measures. Such measures could help address or mitigate the ongoing token opening issues.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Crypto News. Here’s Why Pi Coin Price Could Skyrocket Soon. Accessed on August 13, 2025