Pi Network Price Analysis: At a Crossroads
Pi Network's price has been flat around $0.60 for several days, down 80% from its $3 high after the mainnet launch. This sharp drop and lack of momentum raise concerns about long-term tokenomics, making Pi our chart to watch this week.
Price Outlook
After peaking in February, Pi entered a strong downtrend, forming a falling wedge—a bullish pattern. A breakout followed, pushing the price to $0.7860 (a 100% rally), but resistance at that level led to a pullback to $0.6250.
Now, the coin shows a small head and shoulders pattern and trades below the 50-period moving average—signals that sellers could push it down toward $0.40. However, a double-bottom near $0.6040 hints at possible recovery, with $1 as the next key target if buyers return.
My Take:
Pi is in a make-or-break zone. A decisive move above $0.65 could shift momentum bullishly, but failure to hold support may trigger a deeper slide. Caution is warranted until a clear trend emerges.