Pi coin price appears ready to break out of a persistent downtrend after forming a bullish MACD crossover on the daily chart. Could the token be gearing up for a strong rally this week?
According to data from crypto.news, Pi Network’s native token saw a sharp rebound on Monday, Oct. 27, jumping nearly 40% in 24 hours to reach a one-month high of $0.289 before paring back gains to trade around $0.270.
While there was no clear fundamental catalyst behind the move, market analysts suggest the rally was largely driven by investor speculation tied to potential project updates. At the time of writing, Pi coin was hovering near a critical breakout zone after approaching the upper boundary of a falling channel pattern visible on the daily chart.
Pi coin approaches breakout zone
A falling channel forms when an asset’s price trends lower between two parallel, downward-sloping lines. A move above the upper boundary of this pattern often signals a bullish reversal—especially when confirmed by increasing trading volume and supportive technical indicators.
As of publication time, Pi coin was trading just above the breakout level at $0.261, suggesting early signs of a potential breakout.
Technical indicators reinforce bullish setup
The MACD indicator recently confirmed a bullish crossover, with both the MACD and signal lines trending upward—an early indication of strengthening bullish momentum. The Awesome Oscillator has also turned green, pointing to growing upward pressure.
Meanwhile, the Relative Strength Index (RSI) climbed to 66 over the past 24 hours, reflecting increased buying activity but remaining below the overbought threshold, suggesting there may still be room for further gains.
Key levels to watch
A sustained breakout above $0.261, supported by rising trading volume, could pave the way for a rally toward $0.445—roughly 67% above current levels. This target is derived by adding the width of the falling channel to the breakout point.
On the downside, critical support lies at $0.172, the low from Oct. 11, which traders are likely to monitor closely in case of a failed breakout or sharp correction.
Caution amid speculation
Despite the improving technical outlook, Pi coin has a history of short-lived rallies sparked by project-related speculation. Previous surges have often reversed once investor enthusiasm waned.
For instance, in May, Pi Network hinted at a major announcement expected within weeks, triggering a triple-digit rally. However, the momentum quickly faded, with prices hitting resistance near $1.70 before collapsing below launch levels.
As Pi coin once again teases a bullish breakout, traders should balance optimism with caution, recognizing that speculative enthusiasm has often outpaced fundamentals in the project’s price action.
