Key Highlights
- Symmetrical triangle breakout signals potential bullish continuation.
- Elliott Wave analysis supports an impending upward wave (v).
- Fibonacci levels ($1.46–$1.79) define critical support/resistance zones.
- RSI neutrality hints at balanced momentum pre-breakout.
PI Price Analysis: Bullish Indicators
Symmetrical Triangle Breakdown
Pi Network (PI) has formed a symmetrical triangle across multiple timeframes, typically indicative of a consolidation phase before a decisive breakout. On the 1-hour chart:
- Wave (iv) completion suggests wave (v) could drive prices higher.
- Support: $1.46 (50% Fibonacci retracement).
- Resistance: $1.79 (38.2% Fibonacci retracement).
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Momentum and Key Levels
- RSI: Neutral (no overbought/oversold signals), supporting breakout potential.
- Bullish invalidation: A drop below $1.46 may invalidate the uptrend, targeting $1.13 (61.8% retracement).
PI Price Prediction: Short-Term Targets
15-Minute Chart Insights
Wave (i) and (ii) have formed; wave (iii) could propel PI to:
- $1.64 (1.0 Fibonacci extension).
- $1.72 (1.618 Fibonacci extension).
- Breakout confirmation above $1.79 may aim for **$1.87–$1.90**.
Critical Levels
| Resistance | Support |
|-----------------------|-----------------------|
| $1.64 (Fibonacci 1.0)| $1.57 (50% retrace) |
| $1.72 (Fibonacci 1.618)| $1.50 (structural) |
| $1.79 (38.2% retrace)| $1.46 (invalidation) |
FAQs
1. What does a symmetrical triangle breakout mean for PI?
A breakout typically indicates continuation of the prior trend (here, bullish), with targets derived from Fibonacci extensions.
2. How reliable is Elliott Wave analysis for PI?
While subjective, wave counts align with current price action and Fibonacci levels, adding confluence.
3. What’s the risk if PI breaks below $1.46?
A breakdown could invalidate the bullish setup, pushing PI toward $1.13 or lower.
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Final Thoughts
PI’s technical setup favors a bullish breakout, but traders should monitor $1.46–$1.50 support. A confirmed move above $1.79 could accelerate gains toward $1.90.
Disclaimer: This analysis is informational only. Cryptocurrency investments are volatile; conduct independent research or consult a financial advisor.
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