After a prolonged downtrend, Pi Network catches the spotlight again, showing a 19% increase in token value within 24 hours due to a new feature launch and technical breakout.
Launch of Pi Network's New Advertising Service
Pi Network has officially launched the Pi Ad Network for all apps integrated within its Mainnet Ecosystem Interface. Developers can now earn in Pi tokens directly, while advertisers must pay in Pi to run ads, creating a circular economy that keeps value within the ecosystem.
Technical Analysis: Breakout from Falling Wedge
The technical outlook has also improved. The token was previously caught in a falling wedge pattern, which is a bullish reversal formation. Today's rally pushed the token out of the wedge pattern, leading to a breakout at the $0.59 level, followed by a rise to $0.72.
Initial Insights and Forecasts
Pi Network is showing early signs of a trend reversal, supported by both fundamental developments and technical indicators. If the current rally holds, the token has the potential for further recovery.
As the fundamental metrics improve and favorable signals appear, market participants should closely monitor the developments in Pi Network.
