Pi Network Shows Signs of Recovery as Technical Patterns and Key Events Align

Pi Coin's sharp 60% decline since May reflects fading HYPE and reduced liquidity following its mainnet launch. However, a bullish wedge formation now signals a potential reversal. The token's 24-hour trading volume has dropped to $74 million from its February peak of $3 billion. Technical indicators like MACD and Donchian suggest accumulation is underway ahead of Pi Day 2 on June 28.

Market analysts observe that the narrowing volatility mirrors historical basing patterns. Meanwhile, ecosystem developments, including the $100 million Pi Network Ventures fund, provide fundamental catalysts. The combination of technical compression and scheduled network events creates favorable conditions for a momentum rebound, though risks remain due to the token's unproven track record.