Pi Coin Breaks 7-Week Consolidation: Can the Rally Continue?
Pi Network Breakout: What’s Next for PI Coin After 7-Week Consolidation Ends?
Pi Network’s native token PI is showing strong momentum after breaking out of a prolonged consolidation phase, sparking renewed interest among traders.
Over the past seven weeks, PI coin had been locked in a tight consolidation pattern, frustrating bulls and keeping price action relatively muted. However, the recent surge has caught the attention of crypto investors, with analysts now eyeing the potential for a bullish trend continuation.
Pi Coin Price Breaks Resistance
After weeks of range-bound movement, Pi Coin finally broke past a crucial resistance level near $37, igniting upward momentum. This technical breakout is being seen as a potential trend reversal, signaling renewed bullish strength. The PI price has since surged above $40, and if momentum sustains, it could target the $50 resistance level in the short term.
Technical Indicators Turn Bullish
Key indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have flipped bullish. The RSI has crossed above 60, suggesting increased buying pressure, while the MACD shows a growing positive divergence—both indicating potential for continued upside.
On-Chain Metrics and Sentiment Shift
On-chain data suggests a growing number of active PI wallets and increasing transaction volumes, both signs of heightened network activity. This, combined with rising mentions of Pi Network across social media, indicates a positive shift in market sentiment.
What’s Next for Pi Coin?
With the breakout above $37 confirmed, the immediate target for PI lies between $47 and $50. If this level is breached with strong volume, a new bullish leg could begin, potentially driving the price toward $60. However, failure to hold above $40 could result in a retest of the $37 support zone.
Analysts caution that while the recent breakout is promising, sustained bullish action will depend on broader market conditions and Pi Network’s continued development. Traders should monitor key support levels and overall crypto sentiment before entering new positions.
Conclusion
Pi Coin’s breakout after a 7-week consolidation phase has renewed interest in its short-term trajectory. With bullish indicators aligning and technical resistance broken, PI could be gearing up for a larger move—making it a coin to watch in the coming weeks.