After Pi's March 21 sharp correction and fall below $1, the coin saw a recovery today. The range of its 24-hour price movement saw a low of $0.86 and a high of $1.08.
The price of the Pi Network’s native coin, Pi, has been experiencing a volatile month, as it is now standing lower than half of its ATH. The token’s price has also been experiencing a constant fall over the week. So, today’s Pi value surge has re-energised the community and its market. Technical analysis of the price movement also points to a possible recovery rally for the coin.
After Pi’s March 21 sharp correction and fall below $1, the coin saw a recovery today. The range of its 24-hour price movement saw a low of $0.86 and a high of $1.08. As of writing this, however, part of the Pi price surge has been wiped out and is trading near $0.9807. This increase in price started when Pi hit the low of the day, signalling that buyers took control from sellers.
This surge comes at a time when the Pi price reached a trendline support. This support line can be seen in the 4-hour chart as the lower line in the falling wedge pattern. If such a pattern is present, as seen in Chart 1, we can expect a bullish movement in the price. This is because when a resistance is broken in this pattern, a price breakout usually follows.
Chart 1 – Provided by nileshrsh73, published on Tradingview, March 22, 2025.
Based on Chart 1, Pi has been in a constant downtrend since it hit a high on 26 February. This high was recorded at $3.00, and since then, the price decrease has continued, leading to a 70% loss. However, today, as Pi value was continuing its decline, bulls overwhelmed the market at the $0.86 price point. This led to a sudden Pi price surge as it reached a resistance on the higher wedge’s trendline. Pi’s surge stopped at the $1.08 point, which represents the upper wedge trendline.
During this surge, this token also tested its 20-day moving average resistance level, which is highlighted in Chart 1. You can see this MA in a circle near the wedge line. This shows the importance of this resistance level as it also coincides with the 20-day MA. A complete Pi price recovery, however, is only possible if the price goes over the upper wedge. If Pi Bulls are successful in doing so, they can hope for a break in the $1.21 resistance. The Pi value surge is also projected to reach the $1.51 and $1.79 resistance levels.
This projection presents the possibility of a more than 60% increase in the Pi token value. As such, now Bulls are in control of the market, and a projected rally is near. So, it might be a good time to buy. However, investors should still pay attention to the lower wedge. If the price fails to break out of the higher wedge, it might retest the lower support again. In such a case, the price could consolidate before starting another rally. Or, in the worst-case scenario, it could break this lower support.
Other than technical factors, some fundamental variables have also been creating bearish pressure lately. After a successful community vote, the Pi token was rumoured to be listed on the Binance exchange. However, Binance went silent on this matter for a while and recently declined to list Pi.
But the Pi network has been introducing new features recently, which could bring on new investors. Also, this network is young, and as it develops and attracts new users, a price increase is inevitable.
