Pi Network (PI) just made a strong move, breaking out of its recent consolidation within a symmetrical triangle. After weeks of uncertainty, the large-cap altcoin has surged over 11% in the past 24 hours, retesting a key resistance level at $1.72. With a fully diluted valuation of $18.8 billion and a daily trading volume of around $935 million, all eyes are now on Pi’s next move.

Even though Pi’s Open Mainnet is still in its early stages, the project continues to stay relevant. It has remained one of the most talked-about digital assets, consistently ranking as the top trending coin on CoinGecko in recent days.

Early Adopters Take Profits, but Bulls Fight Back

As Coinpedia previously reported, Pi’s price has faced selling pressure over the past two weeks due to profit-taking by early adopters. With over 60 million users waiting for a full exchange listing for six years, some have been quick to cash in on their holdings.

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However, the recent 11% rebound suggests that bullish momentum is returning. Pi’s price has climbed back to the neckline of a previous Head and Shoulders (H&S) pattern—a key technical level that could determine its next move. 

For the rally to continue, Pi must close consistently above the $1.80 resistance level. A strong breakout above this point could invalidate the bearish outlook and push the price higher.

Currently, the four-hour Relative Strength Index (RSI) has cooled down from 70% to 58%, indicating a slight dip in buying momentum.

Pi Coin Price Prediction

If Pi fails to break above $1.80, it could confirm a bearish reversal, potentially sending the price down to $1.20 in the coming weeks.

For now, traders are closely watching whether Pi can sustain its upward movement or if resistance will lead to another round of selling.