Pi Network (PI) Price Analysis: Double Bottom Pattern Signals Potential Rally Despite Correction Risks

Pi Network's token (PI) is experiencing downward pressure after failing to maintain key technical levels. The asset declined over 3% on Tuesday, extending its pullback from Sunday's peak of $0.4661 to below $0.4000. Trading interest diminished as volume dropped nearly 30% in 24 hours.

Technical indicators show mixed signals. The breakdown below both the $0.4000 support and the 50-period EMA at $0.3884 indicates bearish momentum. Analysts caution about potential 10% downside if the $0.3700 neckline support fails. However, the developing double bottom pattern suggests possible bullish reversal scenarios—some traders project 154% upside potential if the pattern confirms.

Exchange listings remain a crucial factor. New platform adoptions could provide much-needed liquidity and trading activity. The current price action mirrors mid-July behavior when Pi similarly faced rejection at the 200-period EMA before a sharp correction.