PI Network Shows Strong Rebound Signals After 87% Plunge
PI Network's cryptocurrency has dropped 87% from its yearly high, currently trading near all-time lows at $0.3985. Technical analysis indicates a potential reversal, with patterns suggesting a possible 154% upward movement.
The token has established a double-bottom pattern at $0.40 with a neckline at $1.6640, a historically reliable bullish signal. A prominent falling wedge formation—where descending trendlines converge—further strengthens recovery expectations.
Market conditions support this outlook: Bollinger Bands indicate narrowing volatility before potential breakouts, while the Relative Strength Index has recovered from oversold levels to 52. The Percentage Price Oscillator's bullish crossover completes the technical argument for upward momentum.
