💥WHAT NEXT FOR PI COIN AFTER CONSOLIDATION ENDED 💥 #PiNetwork

Pi Network (PI) has ended a seven-week consolidation with a massive 16% rally today, June 25, to trade at $0.62. The breakout has pushed Pi Network price out of a falling wedge pattern, a sign that a bullish trend reversal is underway. As Pi Coin outperforms the rest of the market and bullish signs align, can it reclaim $1?

Pi Network Price Breaks Falling Wedge Resistance:

Pi Coin price has been on a massive bull run in the last three days. During this time, the price has moved from a multi-week low of $0.47 to hit a weekly high of $0.62, per CoinMarketCap data. This rally has led to a decisive close above the upper boundary resistance of a falling wedge pattern.

A falling wedge pattern usually indicates that the downtrend is growing weak and bulls are attempting to take control of the price action. However, the bullishness of this pattern is only confirmed when the price moves above the upper boundary.

Currently, Pi Network price has formed a strong 4-hour candlestick above this upper boundary resistance, indicating that the breakout is strong. This means that bulls now have control over the coin’s future price movements. Pi Coin price may rally if there is de-escalation in the Iran-Israel conflict.

The target price from this bullish breakout is a 30% rally that mirrors the height of this pattern from the May 17 swing low of $0.66 to the May 21 swing high of $0.86. If Pi Network were to surge by 30% from its current price, it could very easily reach $0.78.

Pi Network Price Forms Falling Wedge (Source: TradingView)

However, this bullish Pi Network price forecast is dependent on bulls supporting the price above the falling wedge upper boundary. If this resistance falters, it is possible that this rally fails to continue.

Always DYOR