Pi Network Awaits Critical Breakout Near $0.35 Support
Pi Network is currently hovering around the $0.35 support level, showing signs of a potential rebound. This price point has become a crucial test for buyers hoping to turn the tide against a lingering bearish trend.
Volume is steadily increasing at this key level, which is a positive sign. It suggests that large investors,known as whales,are accumulating Pi in anticipation of a breakout. If buyers manage to push prices above the current bearish resistance, we could see a surge toward the next significant level at $0.50.
- Strong support at $0.35;
- Bearish trendline restricting upside movement;
- Potential upside to $0.50 if breakout confirmed.
Though, Pi faces an overhead bearish trendline that limits its upward movement. This trendline has kept the coin in a pattern of lower highs and lows, creating an apex zone. For a reversal to gain momentum, Pi needs to break this resistance with a surge in buying volume.
The next few sessions will be crucial. traders should monitor volume closely. If volumes spike alongside price increases, it could signal a proper shift from accumulation to bullish expansion. On the other hand, failure to break through the resistance might result in continued consolidation.
Pi Network is at an inflection point.A successful breach of the $0.35 support and subsequent resistance could pave the way for a rally to $0.50. Otherwise, more patience might be needed as the market builds up enough strength.
