Pi Coin (PI) Breaks Symmetrical Triangle as Bulls Target a Major Upside Move

Key Takeaways

• Symmetrical triangle breakout nearing completion.
• Elliott Wave structure suggests a bullish continuation.
• Key Fibonacci levels indicate upside potential.
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Pi Network (PI) has formed a symmetrical triangle on multiple time frames, suggesting an imminent breakout.

The 1-hour and 15-minute charts indicate a possible bullish impulse wave formation following the completion of a corrective phase.

Fibonacci extensions suggest potential price targets, while RSI levels provide insight into momentum shifts.

This analysis will examine Pi Network’s price action and potential short-term projections.

PI Price Analysis

The 1-hour chart of PI shows the asset forming a symmetrical triangle pattern following an extended impulsive wave.

This structure appears as wave (iv) in the broader Elliott Wave count, meaning an upward breakout could complete wave (v) of the current bullish cycle.

The price consolidates within the triangle, testing support near $1.46 (0.5 Fibonacci retracement) and facing resistance around $1.79 (0.382 Fibonacci retracement).

A decisive breakout above the triangle’s upper boundary could confirm the start of wave (v), potentially targeting Fibonacci extension levels.

The RSI remains neutral, suggesting neither overbought nor oversold conditions, supporting the likelihood of a breakout. The bullish wave count remains intact as long as price action holds above $1.46, a key structural support.

If buyers fail to maintain momentum, a breakdown from the triangle could push PI toward the 0.618 Fibonacci retracement at $1.13, invalidating the bullish scenario.

However, the breakout probability leans bullish, with price action holding above critical levels and RSI showing no immediate signs of bearish divergence.

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PI Price Prediction

The 15-minute chart provides a more detailed outlook on the expected breakout direction.

PI has already established the start of wave (i) within a developing five-wave impulse, and wave (ii) has retraced to the 0.5 Fibonacci level at $1.57.

If wave (iii) is to extend as expected, the next resistance to watch is $1.64 (1.0 Fibonacci extension), followed by $1.72 (1.618 Fibonacci extension).

If the symmetrical triangle confirms a breakout, wave (iii) could push PI beyond $1.78, with a final wave (v) possibly extending towards $1.87-$1.90 based on Fibonacci levels.

A rejection at $1.64 or failure to maintain above $1.57 could lead to a retest of support near $1.50.

Given that the RSI remains balanced without overextension, momentum could support a breakout above the triangle resistance.

However, if bearish pressure increases and PI breaks below $1.50, an invalidation of the bullish setup could push the price back toward $1.46 or lower.

Key Levels to Watch

• Immediate Resistance: $1.64 (1.0 Fibonacci extension).
• Key Resistance: $1.72 (1.618 Fibonacci extension).
• Major Resistance: $1.79 (0.382 Fibonacci retracement).
• Immediate Support: $1.57 (0.5 Fibonacci retracement).
• Key Support: $1.50 (structural support).
• Critical Support: $1.46 (0.5 Fibonacci retracement, invalidation level).

A confirmed breakout from the symmetrical triangle could lead PI towards $1.87+, while failure to hold above $1.50 may signal downside continuation.