Pi Network (PI) has undergone a prolonged correction phase, but recent price action suggests a possible shift in market sentiment.
We saw a breakout above the significant descending resistance on a near 100% rise.
Consolidation followed, hinting that the price might continue its upward trajectory, but signs of confirmation are needed.
PI Price Analysis
The 4-hour chart outlines a clear 5-wave Elliott impulse completed near $3.00, followed by a significant correction forming an A-B-C-D-E descending wedge to a low of $0.38 on April 5.
The structure culminates in a breakout from the channel around the $0.54 region, suggesting potential bottoming.
Notably, the Relative Strength Index (RSI) also shows a bullish indication as it entered the oversold territory as it did on several key turning points, supporting a reversal thesis.
The recent wave “e” completion appears to mark the end of this complex correction.
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From a Fibonacci perspective, the retracement reached the 0.786 level around $0.56—a common reversal zone.
If the trend reversal is confirmed, a retracement toward the 0.382 ($1.83) or 0.5 ($1.47) Fibonacci levels is likely.
PI Price Prediction
The 1-hour chart illustrates the early stages of a bullish impulse.
Wave (i) seems to have been completed to a high of $0.80, followed by a correctional wave (ii) forming a descending channel, consolidating between $0.54–$0.60.
A breakout from this structure is anticipated to trigger wave (iii), with Fibonacci extensions suggesting targets at $0.904 (1.0), $1.00 (1.272), and $1.13 (1.618).
Wave (iii) could be sharp, especially if volume returns and breaks the resistance at $0.626 (0.236 Fib level).
The RSI remains neutral, allowing room for upward movement.
Structurally, the anticipated breakout aligns with wave theory expectations, suggesting that wave (iii) may be underway soon, leading to an extended 5-wave formation toward $1.12 or beyond.
Short-term invalidation occurs below $0.54, the local low, which marks the end of wave (ii). Holding this level is critical for maintaining bullish structure.
In summary, PI shows promising reversal signals after an extended correction.
A break above the $0.62 level could initiate the next bullish wave with targets around $1.13.
However, maintaining support above $0.54 is crucial for this structure.
Both time frames support a bullish outlook, backed by wave count alignment, Fibonacci confluence, and momentum signals.
Key Levels to Watch
- Immediate Resistance: $0.626 (0.236 Fibonacci level, breakout trigger)
- Short-Term Targets: $0.904 (1.0 Fib ext.), $1.00 (1.272), $1.13 (1.618)
- Retracement Zones: $1.47 (0.5 Fib), $1.83 (0.382 Fib)
- Critical Support: $0.54 (wave ii low – invalidation level)
- Breakout Origin: $0.54–$0.60 consolidation range
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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