Crypto: Pi Network Shows Technical Signs of a Potential Reversal

While the crypto market hesitates on which direction to take, Pi Network captures attention at a pivotal moment. After a spectacular rally followed by a marked drop, the project now intrigues due to a rarely observed technical configuration: a descending wedge, often seen as a harbinger of reversal. This signal, combined with intense community news, places the PI token at the heart of speculation about a possible rebound.

Indicators signal a potential reversal

While crypto is going through an unstable period, the Pi Network price has recorded a sharp drop of more than 60% since May, falling to $0.5370 on June 21, compared to a peak of $1.6675 reached when speculation around the ecosystem was at its height, just before the Consensus event in Toronto.

This bullish phase was fueled by “the anticipation of major announcements related to the ecosystem”. However, the hype quickly fizzled with the reveal of the launch of the Pi Network Ventures fund, endowed with 100 million dollars, whose immediate impact on the price was disappointing.

Moreover, we also observe the drop in trading volume on Saturday, June 21, to $74 million over 24 hours, compared to a peak of $3 billion last February after its launch. Yet, technical signals suggest a possible reversal, and several key elements deserve to be highlighted:

• The MACD continues its decline, signaling low volatility, often interpreted as an accumulation phase;

• The Donchian bands are tightening, another indicator of a compressed market, conducive to a sharp breakout;

• A figure in “bearish compression configuration signaling a reversal” is clearly visible on the eight-hour chart, a pattern recognized as a classic bullish signal in technical analysis;

• A rebound could bring the price back to $1, nearly 85% higher than the current level, if the scenario is confirmed;

• A critical technical threshold to watch: if Pi falls below $0.3940, the lowest in June, the bullish scenario would be invalidated.

These on-chain indicators paint the picture of an asset in consolidation, potentially ready to rebound, but still dependent on the reaction of its market and community.

Pi Day 2 and .pi domain auctions in the spotlight

Beyond the chart reading, several fundamental short-term events could give new momentum to Pi Network. One of the main catalysts is Pi Day 2, scheduled for June 28, a symbolic date also known as Tau Day, as an alternative to the traditional Pi Day on March 14.

That day also coincides with the closing of auctions for .pi domains, an operation experiencing unexpected success. In fact, more than 3 million bids have been recorded, including 123,000 active ones, a sign of tangible interest within the community.

These figures reflect enthusiasm for the symbolism around crypto, but also a desire to anchor in a digital ecosystem in full structuring.

At the same time, developers have highlighted several ongoing projects within the network. Among them, the FruityPi app, a match-three type game, demonstrates the first concrete uses of the infrastructure.

Furthermore, the announced Pi Network Ventures fund aims to finance startups operating in this ecosystem, without detailed information yet published about beneficiaries or eligibility criteria.

Finally, a macroeconomic context could favor a general awakening of the crypto market. Christopher Waller, Fed governor, stated on June 21 that the Federal Reserve could “consider a rate cut as early as July”. This announcement was seen as a positive signal for risk assets, which Pi Network could indirectly benefit from.

It remains to be seen if these elements will be enough to transform speculative momentum into structural dynamics. The combination of favorable technical analysis and event catalysts can indeed constitute fertile ground for a rebound. However, the lack of official listing of the crypto on major exchanges, as well as the still limited accessibility of the token, continue to hinder institutional recognition. If the curve can start again, the medium-term challenge remains the ecosystem’s credibility and its ability to fulfill its promises.