Pi Network Coin (PI) has seen a dramatic price movement, sparking discussions about its next move. After a sharp 70% decline from its peak of $3, PI is showing signs of potential recovery with an emerging ascending triangle pattern.

Read PI Network Price Prediction for more detailed information

Technical Analysis: A Breakout Ahead?

The Relative Strength Index (RSI) for PI turned oversold two days ago, triggering a 15% price rebound. On the four-hour chart, PI has formed an ascending triangle—a bullish continuation pattern—indicating that selling pressure is weakening.

Traders typically measure the breakout target of an ascending triangle by adding the pattern’s height to its resistance level. This suggests an upside target of around $1, representing a further 15% gain if confirmed.

Exchange Deposits Decline: A Bullish Signal?

PiScan data reveals a sharp drop in PI deposits to exchanges, with only 1 million PI tokens deposited in the past 24 hours compared to tens of millions last week. This could lead to upward price pressure.

Currently, centralized exchanges hold over 352 million PI tokens, with OKX leading at 160 million and Bitget holding 81 million. The most significant transaction involved a movement of PI between Bitget and Gate.io.

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Key Drivers for PI’s Recovery to $3

Mainnet Progress – A fully open Pi Mainnet could boost demand and legitimacy.
Exchange Listings – More listings would improve accessibility and liquidity, though Binance recently rejected PI.
Ecosystem Growth – Stronger real-world use cases and partnerships could enhance adoption.

Why Is PI Crashing?

Despite strong community backing, Binance declined to list PI, citing concerns over its closed ecosystem. PI’s lack of full decentralization limits liquidity and transparency, raising doubts among investors.

While PI faces hurdles, technical indicators and market trends suggest a potential reversal. Traders are now closely watching whether PI can break resistance and regain momentum.