The PI Network (PI) has been undergoing a consolidation phase for several months, forming a rounded floor pattern that indicates potential accumulation. The price action has consistently respected the support level of $0.33, which has acted as a critical foundation. This repeatedly tested and defended control point suggests that demand is available, but volume levels will be the key catalyst for acceleration. A non-identified large owner has also been steadily accumulating PI tokens, further underlining the development of demand at these levels.
Technical Analysis of PI Network Price
The PI Network price has formed a bottom structure of $0.33, which is supported by strong volume and structural support with a high time frame. An outbreak in the direction of $0.44 depends on persistent bullish tributaries. The support zone of $0.33 has been holding for months, forming a strong basis. The rounded floor structure proposes accumulation before expansion, and the next resistance level is $0.44, which is the immediate upward trend.
Key Points to Watch
The $0.33 support zone is a critical level with a high time frame that has lasted for months. The rounded floor structure suggests accumulation before expansion, and the next resistance level is $0.44. The volume remains a crucial factor in determining whether this rounded floor develops into an outbreak. While accumulation is available, bullish nodes and inflows are required to speed up the change to resistance at $0.44.
Piusdt (1D) Argines, Source: Tradingview
The general bear structure of lower highs remains intact, and for a real reversal, the PI Network needs to create impulsive upward candles that break this downward trend. Earlier attempts to regain resistance failed due to insufficient demand, but the persistence of the $0.33 support suggests that sellers are losing control. If volume flowers arrive, the setup prefers rotation higher.
What to Expect in the Upcoming Price Campaign
The PI Network forms a constructive bottom pattern, but confirmation depends on the volume. Dealers should pay attention to impulsive candles that break the lower structure, as this would signal the activation of a larger bullish reversal. As long as $0.33 applies, the bias with a resistance of $0.44 is the first major goal for expansion. The PI Network has improved its blockchain to a new testnet version, which is progressing from phase 20 to 23 via upcoming phases, a development that could give a dynamic if they are connected with stronger traces.
For more information on the PI Network price and its potential for bullish accumulation, please visit https://crypto.news/pi-network-price-indicates-bullish-accumulation-as-reversal-pattern-forms/
