Have you ever watched a coin hit the same price level twice, get absolutely hammered by buyers both times, and thought – wait a minute, this actually looks familiar? That’s exactly what’s been happening with Pi Network lately, and honestly, it’s one of those moments that makes technical analysis feel almost too good to be true.
I’m not saying we’re about to see Pi moon tomorrow morning, but when a chart starts painting textbook patterns with increasing volume underneath, you simply have to pay attention. Let’s break down what’s really going on and whether this double bottom could actually deliver the relief rally so many holders have been waiting for.
A Classic Double Bottom Is Taking Shape
There’s something satisfying about seeing a pattern you’ve traded a hundred times before appear on a new asset. For Pi Network, the $0.21 zone has now been tested twice in recent weeks – and both times the selling dried up faster than you can refresh your exchange app.
What makes this interesting isn’t just the price touching the same level. It’s the way volume behaved. The first low came on decent but not spectacular buying. The second low? Volume spiked noticeably higher. That’s the kind of footprint smart money leaves when they’re seriously defending a price zone.
Why Volume Matters More Than the Wiggle
Anyone can draw two circles on a chart and call it a double bottom. The real question is whether actual capital stepped in to defend those lows. In Pi’s case, the answer appears to be yes.
Think of it like an auction. The first test at $0.21 saw some bids, but sellers still had the upper hand. By the second test, buyers were clearly more aggressive – higher volume on the bounce tells us new money (or determined hands) decided this was their line in the sand.
Volume is the weapon of the bull. Price is just the shadow.
– Old trading saying that still holds true
The Neckline Everyone Is Watching
Right now the entire setup hinges on one level: $0.23.
This isn’t some random number I pulled out of thin air. It’s the swing high between the two lows – the classic neckline of the pattern. Until price closes convincingly above this zone (preferably on expanding volume), the double bottom remains unconfirmed and technically just a fancy-looking consolidation.
But here’s what keeps me interested: the way Pi has been grinding sideways just below that level, slowly absorbing overhead supply. It doesn’t feel like desperate sellers anymore. It feels like accumulation.
Measuring the Potential Move
One of the beautiful things about double bottoms is they come with a built-in price target. You simply measure the distance from the lows to the neckline and project it upward from the breakout point.
For Pi Network that math is pretty straightforward:
- Distance from $0.21 bottom to $0.23 neckline = $0.02
- Add that $0.02 to the breakout point ($0.23) = $0.25 target
- That’s roughly a 19% move from current levels
Nineteen percent might not sound life-changing in crypto, but in this market environment? A clean 19–20% relief rally that actually follows through would turn a lot of heads.
The Psychological Power of $0.25
Round numbers matter more than most traders admit. The $0.25 zone isn’t just the measured move – it’s also where we saw significant selling pressure earlier. Breaking and holding above it would flip previous resistance into support and likely trigger a wave of short covering.
I’ve watched similar setups play out on countless altcoins. Once that psychological level cracks, the move often overshoots the initial target as late bears rush for the exits. Could Pi push toward $0.27–$0.28 if momentum really kicks in? It wouldn’t shock me at all.
What Could Go Wrong (Because It Always Can)
Look, I’m excited about the setup – but I’ve been doing this long enough to know nothing is guaranteed. The biggest risk right now is a failure to break the neckline combined with another test (and break) of $0.21.
If we see a weekly or even daily close below that support on heavy volume, the entire pattern gets invalidated and lower prices become probable. That’s just how technical analysis works. Patterns are probabilities, not certainties.
Another thing to watch: overall crypto sentiment. Bitcoin has been choppy lately, and altcoins rarely rally in isolation. If BTC decides to take another leg down, Pi will feel the pressure regardless of how pretty its chart looks.
The Bigger Picture for Pi Network
Stepping back for a moment, it’s worth remembering that Pi remains one of the more controversial projects in crypto. The mobile mining narrative brought in millions of users, but actual utility and mainnet progress have been slower than many hoped.
That said, price action is price action. Technical setups can work even on assets with questionable fundamentals – sometimes especially on those assets, because sentiment swings become more violent.
In my experience, coins that build massive retail audiences tend to have explosive moves when technicals finally align. Pi certainly fits that profile.
How I’m Approaching This Trade Personally
Full disclosure – I’ve got a small position here. I started building below $0.22 after the second low held with that gorgeous volume spike. My plan is simple:
- Hold core position as long as $0.21 stays intact
- Add lightly on a confirmed breakout above $0.234 (4-hour close)
- Initial target $0.25, with trailing stops if we get real momentum
- Full exit or major reduction if we lose $0.21 on heavy volume
Risk management always comes first. The setup looks promising, but promising setups fail all the time. The difference between surviving in this market and getting wrecked is respecting your stops.
Final Thoughts
Right now Pi Network sits at a genuine inflection point. The double bottom pattern is clear, volume confirms buying interest, and the risk/reward on a breakout looks attractive.
Will it play out perfectly? Probably not – nothing ever does. But sometimes the market gives you these gifts: clean setups with defined risk and asymmetric upside. When they appear, the smart move is to at least pay attention.
For now, $0.23 is the level that matters. Clear that with conviction, and I suspect a lot of traders who’ve been waiting on the sidelines will suddenly get very interested in Pi Network again.
Either way, it’s going to be fascinating to watch.
