Pi Coin has underperformed the broader crypto market this week, sliding 13% even as Bitcoin edges higher.
Yet beneath the surface, technical signals and on-chain activity hint at a potential turnaround.
Despite recent selling pressure, the token is clinging to support near $0.50. Two chart formations—the double bottom and a falling wedge—suggest that bearish momentum may be fading. The double bottom pattern, anchored at $0.4016, marks a level Pi has refused to break below twice since April. Meanwhile, a breakout from the wedge formation appears to be holding, with the price successfully retesting its upper trendline.
If these bullish setups hold, a push toward the $1 mark—a psychological and technical target—could be in play, representing a possible 100% gain from current levels. However, a slip below $0.4016 would invalidate this outlook and potentially trigger deeper losses.
On-chain data adds another layer of optimism. Whale wallets have pulled more than 12 million Pi from exchanges in the last 24 hours, outpacing inflows by 1.7 million. This shift toward self-custody is often interpreted as a sign of accumulation and long-term confidence.
Adding fuel to this sentiment, Pi Network’s ecosystem is expanding. The launch of Pi AI Studio—a platform enabling users to build AI apps quickly—and new staking features introduced by the core team may be encouraging larger holders to double down.
With strong technical patterns and fresh developments backing it, Pi Coin could be gearing up for a breakout—if bulls can hold the line.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/pi-coin-price-faces-key-test-as-bullish-patterns-emerge/