A tightening Bollinger Band formation on Pi Network’s daily chart is flashing early signs of a breakout, adding fuel to bullish PI coin price predictions.
Despite ongoing token unlocks, the market appears to be absorbing the supply with increasing demand, forming a solid support base around $0.34.
At the macro level, weaker-than-expected August labor data has reignited investor optimism for aggressive Fed rate cuts – a shift that could trigger major upside across altcoins like PI.
Markets now place 100% odds of U.S. interest rate cuts two weeks away, and a base-case of 75 bsp before year-end, with the potential to stimulate new demand for risk assets like Solana.
Boilinger Bands Tighten for Explosive Wyckoff Setup
Support found at $0.34 could be the next PI coin price floor as Bollinger bands point to easing volatility, narrowing over the past few weeks.
In most cases, the narrowing spread leads to a short squeeze, as it did in early May just before an almost 200% rally.
However, this time around, the move could be much bigger with Pi Network flashing the accumulation phase of a Wyckoff setup.
This phase is characterized by low volume, sideways movement, and multiple tests of key resistance levels, as the PI coin has with its narrow consolidation between $0.34 and $0.40.
Once broken, the accumulation leads to a major markup, setting PI up for its next rally after a prolonged markdown.
PI Coin Price Prediction: Wyckoff Setup Points to New Highs
The support found at $0.34 affirms a confluence zone pushing PI closer to the breakout of a descending channel pattern forming since mid-May.
The support now approaches the upper boundary of the channel in a potential breakout setup.
Still, momentum indicators are yet to flip bullish. The RSI struggles to hold above the 50 neutral line, currently in the low 40s, suggesting weak buyer conviction.
The MACD is also on shaky ground, edging toward a possible death cross that could put the $0.34 support at risk of breakdown.
Yet macro conditions could shift the balance. With rate cuts poised to boost demand, PI could break out of its accumulation zone and rally 60% to the channel’s $0.55 target.
A confirmed move would mark Wyckoff’s markup phase, positioning PI to retest its May local high and secure a potential 400% gain.
However, if this extends to its past all-time high around $3, PI could enter new price discovery and target the next major milestone at $5, presenting a potential 13x move.
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The post Pi Coin Price Prediction: Bollinger Bands Explode Tight – Wyckoff Signals Incoming Face-Melter Rally appeared first on Cryptonews.
