The “Power of Three” Model Predicts a Rebound in Pi Network Price
A popular crypto analyst, followed by over 327,000 people on X, has made a bullish forecast on the Pi Network price, despite its ongoing decline. He relied on a theory known as the “Power of Three” (Po3) to justify this view. This pattern consists of three key phases: accumulation, manipulation, and distribution.
The accumulation phase is characterized by a narrow trading range, which the Pi price broke out of a few days ago. It has now entered the manipulation phase, with several deceptive price movements.
Following this, the analyst expects Pi’s value to soar parabolically and retest its all-time high of $3. Confirmation of gains will be provided if the price surpasses this record, triggering a frenzy (FOMO) among investors.
Can Pi Network Really Reach $100 ?
The current price of Pi Network is at $1.1185, meaning it needs to surge by 9,099% to reach the level of $100 in the IOU market. It peaked last November in that market. The Pi Network IOUs were an asset created by HTX and other brokers after the delayed launch of the mainnet. They had no connection to the original Pi project.
Several factors need to happen for the Pi Network price to hit the key $100 threshold. Firstly, the overall crypto market must be in a strong bull market, with Bitcoin hitting new all-time highs. Such a move would lead to increased demand for most altcoins, including Pi.
Next, the US Federal Reserve must adopt a more accommodative monetary policy. It needs to lower interest rates and end the balance sheet reduction program (QT). Such a decision would boost inflows into the cryptocurrency market.
Other potential catalysts would be the launch of an ETF on the Pi Network :
- Integration into strategic crypto asset reserves;
- Growth of its ecosystem;
- And the introduction of a token “burning” mechanism. This burning would help offset ongoing dilution from token unlocks.
What Does the Future Hold for Pi Network Price ?
The hourly chart shows that the Pi Network price has continued to decline this week. At the same time, trading on Binance remains out of reach.
It collapsed below the key support level of $1.2372, its lowest swing since March 9. This was a significant level as it formed the neckline of a bearish head and shoulders pattern in formation. This pattern is one of the most bearish in the market.
The Pi price has stayed below the 25-period moving average, while the Awesome Oscillator indicator is in the red. Therefore, the Pi price will likely continue to decline, with bears pushing it towards the psychological threshold of $1. A move above the resistance at $1.5 will invalidate this bearish forecast and signal further gains up to $2.
Source : TradingView
The Pi Network faces a daunting task to go from approximately $1 to the $100 level in the IOU market. This will require strong fundamentals, including listings on major exchanges and ETF approvals, along with favourable technical factors.
A great opportunity to buy Pi Network? Here’s how to do it on Bitget :
- Create an account on Bitget by signing up with an email address and completing KYC verification.
- Deposit funds via credit card, bank transfer, or by transferring cryptos.
- Search for Pi/USDT in the Spot or Futures section.
- Place your buy order based on your strategy (market, limit, futures).
- Confirm the transaction and see your tokens directly in your account.
Before investing, it is recommended to analyze the market thoroughly and adjust your strategy accordingly.
