The cryptocurrency market is taking a breather after a strong multi-day rally, while Pi Network (PI) grabs attention amid recent growth.
Current Market Situation
After a strong rally, Ethereum (ETH) slipped over 2%, with most altcoins cooling off. Pi Network (PI), previously struggling, has climbed 7% in the last 24 hours after a 90-day decline, largely driven by inflationary pressures from large daily token unlocks.
Fractal Model Indicates Potential Rise
On the daily chart, PI’s current setup looks nearly identical to its price action in May 2025. Back then, the token traded quietly in a falling wedge formation for weeks, sitting under the 100-period moving average (MA). Once it broke above the wedge and cleared the 100 MA, PI launched a powerful 144% rally. Now, a similar formation is unfolding: after grinding lower along its long-term descending trendline and consolidating within another multi-week falling wedge, PI has broken upward and is now pressing against the critical 50-day MA at $0.5319.
Outlook for Pi Network
If the fractal continues to repeat, a breakout above the 50-day MA could trigger the next leg higher. The first target sits at the 100-day MA near $0.6243, representing a potential 27% move from current prices. Confirmation remains key, as PI may remain trapped in consolidation without a decisive breakout above the 50-day MA.
After an extended decline, Pi Network is showing signs of possible growth; however, further movement depends on confirmation of breakouts at key levels.
