Pi Network Price Stagnant Despite Crypto Bull Run

The Pi Network token (PI) remained flat at $0.63 on Tuesday, June 10, where it has traded since May 31. This marks a 62% drop from its March peak and leaves the token far below its all-time high of $3.00.

Despite the recent stagnation, technical indicators are flashing potential bullish signals. A double-bottom pattern has formed with key support at $0.5850 and a neckline at $1.6708. A breakout above the psychological resistance at $1.00 could trigger a move toward the neckline — gains of approximately 57% and 160%, respectively, from current levels.

However, if PI breaks below the critical support at $0.5497, this bullish outlook would be invalidated, opening the door for a retest of its all-time low at $0.40.

The 12-hour chart also shows signs of a potential short squeeze as the Bollinger Bands have narrowed, indicating reduced volatility — often a precursor to sharp price movements. A similar pattern in May preceded a 175% surge to $1.6660.

Additional indicators confirm the quiet before a possible storm:

Historical volatility has dropped to 22.24, its lowest since May 7.

The Average True Range (ATR) has also declined to 0.025, the lowest since May 6.

While the Pi Network token has underperformed in the broader market rally, these technical setups suggest a breakout could be on the horizon — if key resistance levels are breached.