The PI Network token has recently shown strong signs of a bullish breakout, closing above the upper boundary of its horizontal channel. After a period of sideways trading from August 2-8, the token’s price surged by 16% on Saturday and another 2% in the last 24 hours.
Bullish Breakout and Increased Buying
This breakout indicates a shift in market sentiment, suggesting a potential for a sustained price rally. The surge in price is supported by a dramatic increase in trading volume, which jumped by nearly 150% in 24 hours to reach $270 million. The combination of rising price and increasing volume confirms the strength of the trend and suggests that the breakout is not a temporary blip.
The token’s recent rally has also pushed its price above its 20-day exponential moving average (EMA), a key technical indicator. This move confirms growing buying interest and establishes the 20-day EMA at $0.4038 as a new support level.
Price Targets
If this positive momentum continues, PI could test the next resistance level at $0.4451. A successful push past this point could see the token’s price rally further towards $0.5281.
August 2025, Cryptoniteuae
