- Pi Network (PI) is recovering from a correction after hitting an all-time high of $3, with key resistance at $1.5 potentially determining its next move.
- If buyers break this resistance, PI could rally toward $1.8 and beyond, supported by growing bullish momentum.
Pi Network (PI) has been undergoing a correction following its recent all-time high (ATH). However, signs indicate that a potential bullish breakout could be on the way. Here’s what traders need to watch this week.
Correction Phase Nearing Its End?
After reaching an ATH of $3, PI underwent a sharp correction, pushing its price down to $1.2 over the past weekend. This key support level saw a strong reaction from buyers, allowing the cryptocurrency to rebound to $1.5. Although this resistance held firm, another breakout attempt may be imminent.
Critical Resistance at $1.5
The $1.5 resistance level remains a major hurdle for PI’s price recovery. If buyers successfully push above this level and establish it as a support, we could see a significant rally toward the next resistance at $1.8. Beyond that, the $2 mark would be the next major target.
Bullish Momentum Building
Technical indicators suggest that bullish momentum is gaining traction. The 4-hour MACD is showing signs of flipping bullish, signaling renewed buying interest. If this trend continues, PI could see a strong uptrend forming, potentially reversing its recent correction and setting the stage for new highs.
What to Watch for Next
- Breakout Above $1.5: A confirmed close above this level could trigger a rally toward $1.8.
- Support at $1.2 Holding Strong: If PI fails to break resistance, maintaining this support will be crucial.
- MACD Confirmation: A clear bullish crossover on the MACD could be a strong indicator of a trend reversal.
With growing bullish momentum and key resistance levels in focus, PI traders should keep a close eye on price action in the coming days. A breakout above $1.5 could mark the start of a fresh rally, while failure to do so might prolong the correction phase.