This Pattern Hints Pi Network Price Could More Than Triple

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As a seasoned crypto investor with a knack for spotting promising opportunities, I must admit that my excitement for Pi Network has reached new heights this year. The coin’s meteoric rise, propelled by the anticipation of the mainnet launch, has been nothing short of thrilling.

This year, the value of Pi Network’s coin has soared, fueled by excitement surrounding the upcoming mainnet launch. Despite a substantial increase in its volatility over the last two months, the coin has climbed an impressive 80%. Technical analysis indicates that the Pi coin price may surge even higher or potentially triple within the next few months.

Pi Network Price Chart Points To More Gains

As a crypto investor, I’ve found myself on quite a rollercoaster ride with Pi Coin this year. The journey began with it being valued at around $33 at the start of the year. However, as the momentum of the cryptocurrency bull market escalated, particularly following the approval of spot Bitcoin ETFs, Pi Coin skyrocketed to a high of $122.04 in March.

Initially, Jasmy dipped and subsequently recovered to reach approximately $90. This fluctuation was primarily due to the fluctuations in Bitcoin, the dominant cryptocurrency in the market. Additionally, the ongoing KYC verification process played a role in this price movement.

Based on technical analysis, it appears that the price of Pi Network could potentially rise further, consistent with our forecast from last week. In our previous piece, we examined the daily chart, noticing its pattern of progressively higher peaks and troughs – a sign of an uptrend.

The graph over the past week indicates a consistent upward movement for the coin, currently sitting just above the midpoint of its trend channel. Additionally, it’s currently below the significant support-resistance (S/R) level of approximately $63.

Additionally, the Awesome Oscillator (AO) has risen above the zero point. This AO tool, widely used in trading, assesses an asset’s momentum by comparing the current momentum with the preceding one. When the AO is above the zero line, it typically suggests a bullish trend.

The commonly used momentum indicator, the Relative Strength Index (RSI), has surpassed 50, suggesting a possible bullish surge that might drive the Pi coin’s price to its year-to-date peak of $130. This rise could further propel it towards its all-time high of $184, nearly triple its current value. Notably, this potential peak also represents the Pi coin’s historical maximum, and it is predicted based on the size of the price channel and by measuring from the upper trendline.

For this trade, the point where we exit if the price falls is set at $35. If the price dips below that point, it may indicate further decreases, perhaps even down to the next potential support level at $25.

Pi Coin Mainnet Launch Ahead

The primary factor likely to boost Pi coin’s value is news about the scheduled release date for the mainnet launch. This launch will essentially transition Pi from a confined mainnet to a fully functional one, allowing users to engage with it. Furthermore, this event signifies that Pi holders will have the ability to trade their coins.

It seems highly likely that the full mainnet launch will occur shortly, as the KYC verification process concludes on December 31st. All other necessary preparations have also been made. For instance, the Pi Network’s ecosystem has expanded, and the broader cryptocurrency market is thriving, with Bitcoin experiencing a robust uptrend.

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2024-12-16 15:52