Jakarta, Pintu News – The crypto market is currently consolidating after briefly recovering from heavy losses caused by massive liquidations. At the same time, Pi Network’s native token, PI, is back in the spotlight after experiencing a sharp spike in the last 24 hours.
The price movement suggests that bullish investors are preparing for a bigger breakthrough. Trading sentiment has also improved significantly, with PI prices now testing the crucial $0.25 to $0.28 range – a region that has historically been both a resistance area and a short-term supply zone.
With momentum continuing to increase, traders speculate that if the price manages to break and hold the $0.30 level, a further 20% increase could be possible.
In the last 24 hours, the price of PI surged by more than 10-12%, briefly touching the upper limit of its consolidation zone. This recovery comes amid increased activity on the centralized market, with daily trading volumes also rising, as well as an outflow of tokens from exchange wallets-which is often taken as a sign of accumulation by long-term holders.
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The $0.25-$0.28 price range is the key area as this is the point where sellers have consistently resisted the upside movement over the past two weeks. If the daily price manages to close above this zone, then the area could turn into a support level and pave the way towards the important resistance at $0.30-a level that PIs struggled to maintain throughout October and November.
The overall market structure for Pi is now starting to show strong bullish signs. For the first time since launch, the price of PI managed to break above the Ichimoku Cloud, signaling a possible trend reversal.
This momentum was also supported by the steady rise in On-Balance Volume (OBV), reflecting consistent buying pressure.
Currently, the price action has reached the neckline of the double bottom pattern (W-shaped pattern) that is forming between the $0.28 to $0.29 range. There will most likely be a brief consolidation in this zone, but overall, the technical formation hints at a potential breakout in the near future.
If the bulls manage to push the price convincingly above the neckline, PI could enter into a new bullish phase with higher upside targets in sight.
A steady close above $0.30 would activate the breakout pattern of Pi’s double-bottom, opening up an upside opportunity towards the $0.34 to $0.36 range-in line with the projected 20% surge.
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Growing trading volumes, continued token outflows from exchanges, and improving market sentiment further reinforce this scenario.
In the near term, traders will be watching to see if PI is able to hold strong above $0.28, followed by a strong, high-volume push past the $0.30 level. If the price can consolidate above this area, then the chances of a breakout will become stronger.
Conversely, in case of rejection, PI prices risk dropping back to the $0.23-$0.24 range before attempting to break out again.
Pi is currently at a crucial point. If the price manages to reclaim the $0.30 level, it could be a confirmation of a trend reversal and trigger a rapid upward movement. However, failure to breakout may only delay-not cancel-the bullish structure that is forming.
Pi (PI) is a digital currency that has recently shown significant price volatility in the crypto market.
The $0.25 to $0.28 price range is important as it is the area where sellers have consistently resisted Pi’s price increase attempts over the past two weeks.
If Pi closes above $0.30, it will trigger a double-bottom breakout structure that could lead the price to the $0.34 to $0.36 range.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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