Pi Coin (PI) has gone down by another 2% today and currently sits at $0.5795 as the token’s circulating supply continues to rise.
PI’s performance has been a bit disappointing for early adopters as the token has retreated by 80.6% after it touched its all-time high of $2.98 in late February.
Since then, selling pressure has been quite strong as PI’s circulating supply has been expanding non-stop.
Despite its latest weakness, a technical indicator seems to be favoring a bullish Pi coin price prediction as the token has apparently entered a phase of consolidation.
According to the Wyckoff Theory, a 90-year-old technical analysis tool, PI could have entered a stage of accumulation where deep-pocketed investors silently accumulate tokens in anticipation of an upcoming rally.
PI Retests Lower Bound of its Consolidation Setup
The price action shows all of the signs of an accumulation phase – e.g. low volumes, range-bound prices, and low volatility.
Accumulation phases are typically followed by a significant markup in the price as retail traders experience fear of missing out (FOMO) as they see the price breaking through key resistances.
One of the catalysts that could push PI off this consolidation stage is an upcoming exchange listing.
As the chart shows, the top of the consolidation rectangle is quite near the 200-day hourly EMA. This is the key resistance to watch as a bullish breakout could signal the beginning of the markup phase.
Today, the price is retesting the rectangle’s lower bound at $0.5755. If the price breaks below this support it could invalidate the bullish scenario we shared earlier.
Meanwhile, if a bearish breakout occurs, the next area of support that the market will likely retest would be found at $0.5600.
A bullish breakout above $0.6100 could push PI to $0.6500 first, meaning a 7% short-term gain or even higher if positive momentum picks up its pace and FOMO kicks in.
PI may not be offering certainty of a bullish outcome at the moment but the best crypto presales of the year seem to be poised to outperform these more mature projects in 2025.
A great example is SUBBD (SUBBD), a decentralized content distribution platform that has already secured the support of thousands of influencers who have been looking for a fairer arrangement to keep a larger portion of their earnings.
SUBBD (SUBBD) Offers Content Creators the Best Environment to Succeed
SUBBD (SUBBD) is a decentralized platform that allows influencers to share their content without the fear of restrictions and bans while it lets them keep the majority of the earnings they generate.
Investors have been captivated by this project’s value proposition as reflected by the early success of its presale. Just a month after its launch, SUBBD has raised more than $300,000 to become the home of top influencers.
Thus far, more than 2,000 creators have come on board and have brought with them a combined following of more than 250 million fans who will buy SUBBD to pay for subscriptions and custom requests and enjoy different types of rewards like discounts and early access to new features.
As the SUBBD ecosystem keeps growing, the demand for its utility token will rise. Hence, at its discounted presale price of $0.05535, this token offers significant upside potential to early buyers.
To buy $SUBBD, simply head to the official SUBBD website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH or use a bank card to make your investment.
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