- Pi Coin is currently in the Wyckoff Theory’s accumulation stage, signaling a potential price breakout soon.
- Strong technical patterns suggest the token could rise above $1 and possibly reach $1.60.
Pi Coin’s price has remained steady around $0.44 in recent months, even as Bitcoin and many altcoins saw big gains. This quiet period may be setting the stage for a major price rally soon.
Wyckoff Theory Signals a Potential Pi Coin Breakout
The Wyckoff Theory, developed over 90 years ago, explains how asset prices move in four stages. Pi Coin is currently in the first stage called accumulation. This phase features low trading volume, price consolidation, and some selling pressure—exactly what we see in Pi Coin’s recent chart.
Between April and early May, Pi Coin went through this accumulation phase. After that, it entered the markup phase where prices rise due to increased buying and investor excitement. In May, Pi Network teased a big announcement from Pi Network Ventures, sparking FOMO (fear of missing out) among investors.
This suggests Pi Coin could soon break out of its current range and start a strong upward move.
Bullish Technical Patterns Support Price Growth
Pi Coin’s price chart shows a powerful double-bottom pattern at about $0.40. This pattern is a well-known signal for a price reversal and often leads to gains. The two low points were in early April and early June.
Additionally, a falling wedge pattern is forming. This pattern has two descending trendlines that converge, often leading to a bullish breakout once they meet.
The Bollinger Bands, which measure price volatility, have narrowed recently. This narrowing signals that a short squeeze and price spike could happen soon.
If Pi Coin breaks above $1, the next key resistance level is around $1.60, based on the double-bottom pattern’s neckline.
What This Means for Pi Coin Investors
For those watching Pi Coin, these signs indicate a possible price surge in the near future. Moving from accumulation to markup could push the price to double or even triple. The Wyckoff Theory combined with strong chart patterns make Pi Coin a promising opportunity.
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