Despite the challenging crypto market, Pi network stands out with positive technical indicators and strong backing from major investors. An imminent recovery is on the horizon, making Pi a promising investment opportunity.
On-chain data reveals that a major investor, considered a “whale”, has massively increased their position in Pi Network over the past few weeks. This accumulation demonstrates a contrarian positioning, despite the nearly 90% drop in price from its all-time high.
Indeed, this holder has spent thousands of dollars daily to inflate their portfolio, which now contains 373.78 million of tokens, currently valued at more than $132 million. If the price were to return to its record level, these holdings could be worth more than one billion dollars.
Beyond whale accumulation, the general crypto market context also seems to favor a Pi Network rebound. The Altcoin Season Index recently jumped to 78, suggesting that most alternative cryptocurrencies should benefit from bullish momentum in the coming weeks.
Additionally, the upcoming interest rate cuts by the U.S. Federal Reserve could stimulate a renewed appetite for risk, thereby benefiting altcoins like the coin.
From a technical perspective, Pi Network’s chart indicates imminent rebound potential. The token has formed a double bottom at $0.3321, with a key resistance at $0.4652. Moreover, a bullish divergence signal has appeared, confirming this positive outlook.
Consequently, it could bounce back and reach this resistance level at $0.4652. That’s a potential 32% increase from the current price.
With massive accumulation by whales and the favorable context of altcoin season,
Network appears well-positioned to experience a significant rebound in the coming weeks. Savvy investors will closely monitor the development of this exciting situation.
Buy Pi Coin (PI) now on Zoomex at the current price of $0.366 and leverage AI analysis to optimize your entry before a potential rebound to $0.39!
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