Pi Network’s Double Bottom: Will It Bounce or Flop? 🤔💰

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Ah, the Pi Network, that elusive pie in the sky (or should we say, pi in the blockchain?). It seems our dear Pi has decided to take a leaf out of a badger’s book and dig in its heels at the $0.21 mark. Twice, mind you! 🦡💪 With bullish volume as its trusty shovel, it’s defending this support like a dwarf guarding a treasure hoard. If it can break above $0.23, we might just see a relief rally to $0.25-or, as I like to call it, “the next slice of the pie.” 🥧✨

  • $0.21 support defended twice with increasing volume (because even Pi knows you don’t give up on a good thing)
  • Break above $0.23 confirms double bottom structure (or as the wizards call it, “the magical bounce”)
  • Next upside target sits at $0.25 resistance (the cherry on top of this financial sundae)

Pi Network’s (PI) price action has turned as technically significant as a wizard’s spellbook. The double bottom at $0.21 is holding firmer than a troll’s grip on a bridge toll. Supported by bullish volume, it’s clear there’s demand at these levels-or perhaps just a lot of hopeful miners crossing their fingers. 🧙♂️🤞 With the price reclaiming short-term resistance zones, traders are now perched like vultures, waiting to see if Pi can shift from “accumulation” to “celebration.” 🎉

Pi Network price key technical points (or, as I like to call them, “the boring bits”):

  • Major Support Confirmed: The $0.21 region has been defended twice with bullish volume, forming a potential double-bottom structure (or, “the stubborn mule of support”).
  • Next Immediate Level: A reclaim of the $0.23 swing high is required to confirm continuation (because even Pi needs a nudge in the right direction).
  • Upside Target: A clean break above $0.23 opens the probability of a move into the $0.25 resistance zone (the promised land of modest gains).

Price action on Pi Network has shown early signs of structural strength, like a dwarf’s beard after a good trim. Multiple attempts to break lower were rejected at $0.21, and both retests came with rising volume-a clear sign that buyers are as determined as a witch on a broomstick. 🧹✨ This suggests $0.21 is now a structural value area low, and as long as candles keep closing above it, demand remains as intact as a goblin’s greed.

The next major region of interest is the swing high of $0.23, which acted as resistance after the most recent bounce. It’s now the neckline of the double-bottom formation, or as I like to think of it, “the gate to the next level of the dungeon.” A decisive candle close above $0.23, ideally with volume expansion, would confirm the bullish pattern and set the stage for continuation higher. 🚀

From a technical perspective, any sustained price action above $0.22 reinforces the bullish thesis (or, “the happy ending hypothesis”). Above this threshold, the likelihood of rotation into the $0.25 resistance region increases significantly. The $0.25 level is not only a round-number psychological zone but also aligns with a key imbalance area where previous selling pressure originated. A move into this level would represent a 15-18% relief rally from the defended support-or, in simpler terms, “a modest victory dance.” 💃

The double bottom itself is still forming, and confirmation only occurs once the neckline breaks. However, the defense of support over two separate attempts provides meaningful evidence of accumulation at lower levels. The structure mirrors similar behavior observed before relief rallies earlier in Pi’s trading history, where price flattened, volume increased, and upside expansion followed shortly after. It’s like watching a well-rehearsed play-except the actors are numbers, and the audience is very, very anxious. 🎭😰

What to expect in the coming price action (or, “the crystal ball session”):

If Pi Network maintains strength above $0.22 and breaks through $0.23 with volume, the double-bottom confirmation unlocks a high-probability move toward $0.25. 🌟 On the flip side, a failure to hold above $0.21 would invalidate this structure and re-expose lower liquidity zones-or, as I like to say, “back to the drawing board, lads.” 📉

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2025-11-17 23:42