Pi Network Begins Bearish Wave 3: Target Between $0.71 and $0.73

Pi Network (PI/USDT) has entered the third bearish wave within the Elliott count, confirming a scenario of continued decline. The price previously sought a Fair Value Gap (FVG) of wave 1, coinciding with a Wyckoff distribution structure. Upon testing this zone, there was an excellent entry for sale, resulting in a strong rejection and resumption of the downtrend.

Technical Analysis and Target Projection

Distribution Confirmation: The asset followed a classic distribution behavior, where large players took advantage of the liquidity to sell positions. The UTAD phase (last test before the fall) coincided with the FVG zone of wave 1.

Wave 3 Confirmed: After this test, wave 3 began to develop, and considering the Fibonacci projection, the most likely target is between $0.71 and $0.73, close to the 1.618 extension of wave 1.

Positioning and Risk Management

I am currently positioned with $90 at 10x leverage, which has already generated a 30% return on capital. The operation remains protected, with a stop adjusted above the last relevant liquidity zone.

Conclusion

The technical scenario remains favorable for the fall, but it is always essential that each trader does their own analysis and does not enter any operation without confirming its confluences. The market can present traps, so maintaining good risk management is essential.

If the structure continues to follow the projection, the price may reach the target region soon. Stay tuned for the next movements and protect your profits as the market develops.

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