Pi Network Price Forecast: Analysts See Monster Rally Should This Key Event Set off the Breakout

Though stability in the larger crypto market has helped the Pi Network (PI) price to swing lower once more, analysts believe that an imminent major event could cause a sharp reversal in PI's fortunes.

PI was last changing hands around $0.61, having dropped below its 21DMA on a bearish breakout from a short-term pennant pattern.

Pi Network Price Forecast: Analysts See Monster Rally Should this key event set off the suggested breakout, short-term price risks point toward the negative. The near-term negative technical view matches bearish token foundations.

Major token unlocks have caused the Pi Network price to drop over 80% since the Open Network launched in February and an early hype-fueled price increase up to $3.0 per token could continue to weigh on the price in the near future.

He said instead of the pump approaching "the end of August when Pi unlocking significantly reduces".


One of the largest summits in crypto, Pi Network sponsors the event and has founder Nicholas Kalallis among the speakers.

A significant Pi Network price recovery would probably see PI climb all the way back to its 50% Fibonnaci retracing from the April lows under $0.40 to the record highs near $3.0, which is about $1.70.

Pi Network Price Forecast: Eye Monster Rally Analyst View Should this key event cause the breakout from present levels to be triggered, there may be a rise almost three times current level. For those with high risk tolerance, now could be a good moment to think about entering the market.

The Pi Network's expanding user base and creative mobile mining approach, which promotes general adoption and consistent demand, will probably help it to do well over time.

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