Pi Network (PI) has staged an impressive breakout from a symmetrical triangle pattern, marking a potentially strong bullish reversal. On May 9, PI surged nearly 16% to trade around $0.75. The breakout was validated by a daily close above the upper trendline and rising trading volumes — classic confirmation of a technical breakout. This move has strengthened the current Pi Network price prediction, with analysts now eyeing higher resistance zones.
The symmetrical triangle breakout sets an immediate target at $0.95. A breakout above this level could confirm a full trend reversal, setting the stage for a PEPE-style rally. Further bullish targets include the 0.236 and 0.5 Fibonacci retracement levels at $1.00 and $1.39, respectively. A larger move toward $2.00 — the 0.618 Fib level — is plausible if macro conditions remain favorable and Bitcoin maintains strength above the $100,000 mark.
Technicals remain in the bulls’ favor. PI trades above its 50-, 100-, and 200-period EMAs on the 4-hour chart, while the MACD continues to print strong green histograms. The SuperTrend indicator flipped bullish earlier in May, attracting traders into long positions.
However, the RSI currently sits in extremely overbought territory at 85.78, suggesting a potential cooldown. Key support levels to watch include $0.68 and $0.62, where major EMAs converge.
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On the fundamental side, excitement is growing over a major Pi Network ecosystem announcement expected on May 14. The Core Team recently introduced wallet updates enabling verified and new users to join the Mainnet, hinting at broader adoption. Rumors of a potential Binance listing are adding to the momentum.
With strong technicals and bullish fundamentals aligning, Pi Network’s breakout could be the beginning of a major rally in the coming weeks.
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