Pi Coin's Breakout Gains Momentum as Key Resistance Level Tested

Pi Coin (PI) is exhibiting a rare green streak across multiple timeframes, with the one-month chart up 9.5%, the seven-day chart up 2.1%, and the 24-hour period showing a 3.5% gain. Despite this, the token remains down nearly 40% over the three-month window, indicating early strength amid broader market sluggishness.

The price recently broke out of a symmetrical triangle pattern, a sign of potential trend reversal, and is now testing a critical confirmation level near $0.229. A close above this level could propel PI toward $0.236 (a 4.2% gain) and possibly $0.252, though a drop below $0.215 risks a slide to $0.208.

Technical indicators support the breakout: the Chaikin Money Flow (CMF) surged from -0.09 to +0.05, signaling increased institutional buying, while On-Balance Volume (OBV) is curling upward, suggesting retail traders are joining the move. Additionally, a large on-chain transaction of 1 million PI coincided with rising volume, highlighting heightened activity among major holders.

Market capitalization has climbed from approximately $1.82 billion to $1.88 billion, reflecting growing investor interest. Analysts emphasize that sustained momentum depends on PI holding above $0.229, with failure likely leading to renewed selling pressure.