The post Charts indicate path back to $2.98 appeared on BitcoinEthereumNews.com.
Despite a brutal month that saw Pi coin tumble over 22%, technical indicators and market patterns suggest the token may be poised for a dramatic rebound amid broader altcoin momentum, growing ecosystem activity, and renewed speculation around major exchange listings. Pi Network (PI) token was trading at $0.44 today, July 26, a few points above its all-time low of $0.4010. Indeed, it is one of the worst-performing tokens, but technical indicators suggest that the Pi coin price could be on the verge of a triple-digit surge in the coming weeks. Warren Buffett — who famously described Bitcoin as “rat poison squared†in 2018 — consistently advises investors to do two things: Buy when others are fearful and sell when most are greedy. This view has worked well for many investors who bought Ethereum (ETH) when it bottomed at $1,385 in April, and is now approaching $4,000. For Pi, volume has dropped in the past few months as its hype has fallen. The Average True Range and the Bollinger Bands indicate low volatility, a sign that the market is in the accumulation phase of the Wyckoff Theory. This phase is typically followed by the markup, characterized by high demand and a fear of missing out. Pi Network price has formed a double-bottom pattern at $0.4010, and a neckline at $1.6656. A double bottom is one of the most common and accurate bullish reversal patterns. It has also formed a falling wedge, a common bullish reversal sign. Therefore, the token will likely bounce back as bulls target the double-bottom’s neckline at $1.6656, up by 275% from the current level. A move above that level will signal more gains, potentially to the all-time high of $2.98, up by 570% from the current level. The bullish Pi coin price forecast will become invalid if…
