Pi Network Price Rebounds 28% as Market Eyes Potential Breakout

Pi Network is showing signs of a strong comeback, rallying by 28% recently as investor sentiment improves and token unlock events spark renewed interest. Currently, the token is trading between $0.58 and $0.66, recovering from earlier lows seen this month.

In a recent move, the price climbed over 9%, even as 24-hour trading volume dropped by 37% to around $298.5 million a clear sign that traders are optimistic despite lighter activity.

Token Unlock Buzz Fuels Growth

According to data from PiScan, nearly 1.5 million Pi tokens are expected to be unlocked by April 11, contributing to the ongoing buzz. Looking ahead, another 160.74 million tokens, worth about $94 million at current prices, are scheduled to be released over the next 30 days.

Analysts believe this rally is largely supported by the limited supply entering the market and a general recovery across the crypto landscape, building confidence among long-term holders and new investors alike.

Technical Analysis: Pi Network Consolidates Between Key Levels

Since April 16, Pi Network has been trading within a tight range, finding support at $0.60 and resistance at $0.66. This suggests a phase of consolidation, where neither buyers nor sellers have gained full control.

The Aroon indicator reinforces this, with the Aroon Up Line at 0% and the Aroon Down Line decreasing to 14.29%, indicating a balanced market with minimal momentum in either direction.

Additionally, the Average True Range (ATR) has declined steadily since early March and now sits at 0.07, reflecting reduced price volatility and reinforcing the notion that Pi is currently in a cooling-off period.

Can Pi Reach $3 by June?

Some market analysts are optimistic, forecasting a potential rise to $3 if bullish conditions continue through the coming months. Reaching this milestone would mark a 400%+ increase from current levels around $0.60.

However, this projection hinges on several key factors, including announcements from the Pi Core Team. Speculation about a possible token burn, a move that would reduce supply, could serve as a major catalyst.

Despite the enthusiasm, investors remain cautious due to the looming token unlocks, which may increase sell pressure in the short term.

Pi Network Breakout Scenarios: What to Watch

Pi’s current consolidation suggests an imminent breakout, but the direction remains uncertain. Should buying momentum strengthen, we could see the price break above the $0.66 resistance, potentially setting up a run toward the $1 level.

On the flip side, if bearish sentiment increases, the token might dip below $0.60, potentially revisiting support near $0.50.

Earlier this month, Pi showed volatility between $0.5361 and $0.6133, with technical indicators identifying support at $0.5361 and resistance at $0.6133. A golden cross, a bullish technical pattern, also emerged shortly after Pi hit support on April 6, signaling possible upward momentum.

Outlook: Waiting for the Next Big Move

As of April 28, Pi Network continues to hover in its $0.60 to $0.66 trading zone, with market participants closely watching for a catalyst. Whether it's a major announcement from the core team or a broader crypto rally, the stage is set for Pi’s next move.

With its fundamentals aligning and community interest growing, Pi Network remains one of the most-watched tokens in the current market cycle.