Are Pi Holders Selling Too Early Before the Real Pump?
- PI token broke out of a bullish falling wedge with volume surging nearly 195%, hinting at a larger move ahead.
- Technical targets point to upside levels as high as $0.85, with RSI and MACD still supporting momentum.
- With Pi2Day set for June 28 and major updates teased, holders may be exiting just before a key catalyst hits.
The Pi Network token (PI) has surged nearly 8% in the past 24 hours, driven by a dramatic 194.78% increase in trading volume, signaling a strong inflow of fresh interest. Yet despite this impressive short-term performance, PI remains down over 19% for the month.
According to CoinMarketCap data, PI is still nursing a steep 70% loss from its all-time high of $2.98 reached just over four months ago. Meanwhile, the project is about to celebrate a significant event, Pi2Day on June 28.
Technical Setup: A Breakout from the Falling Wedge
A closer look at the 4-hour chart below reveals a classic falling wedge formation, a bullish reversal pattern that often precedes sharp upward moves. PI decisively broke out of this wedge to the upside, confirming bullish momentum.
From a Fibonacci standpoint, the token has already reached the 1.618 exten…
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Are Pi Holders Selling Too Early Before the Real Pump?
- PI token broke out of a bullish falling wedge with volume surging nearly 195%, hinting at a larger move ahead.
- Technical targets point to upside levels as high as $0.85, with RSI and MACD still supporting momentum.
- With Pi2Day set for June 28 and major updates teased, holders may be exiting just before a key catalyst hits.
The Pi Network token (PI) has surged nearly 8% in the past 24 hours, driven by a dramatic 194.78% increase in trading volume, signaling a strong inflow of fresh interest. Yet despite this impressive short-term performance, PI remains down over 19% for the month.
According to CoinMarketCap data, PI is still nursing a steep 70% loss from its all-time high of $2.98 reached just over four months ago. Meanwhile, the project is about to celebrate a significant event, Pi2Day on June 28.
Technical Setup: A Breakout from the Falling Wedge
A closer look at the 4-hour chart below reveals a classic falling wedge formation, a bullish reversal pattern that often precedes sharp upward moves. PI decisively broke out of this wedge to the upside, confirming bullish momentum.
From a Fibonacci standpoint, the token has already reached the 1.618 exten…
The post Are Pi Holders Selling Too Early Before the Real Pump? appeared first on Coin Edition.
Read More