Pi Network Faced Major Turbulence This Week — From a Failed Ecosystem Rollout to a Rare But Silent Appearance by Its Founder

Pi Network faced major turbulence this week — from a failed ecosystem rollout to a rare but silent appearance by its founder. Let's explore how these events triggered a sharp 66% price drop.

Pi Network has faced a turbulent week, with the anticipated ecosystem rollout failing to materialize and founder n appearance coming at a time of price weakness.

As the one-hour chart of Pi Network (PI/USDT) on May 19 shows, the token is now forming a classic falling wedge pattern.

This structure is typically encountered in a downtrend, where the price moves between two downward-sloping, converging trendlines. In this case, the wedge's apex is nearing completion, with the price forming lower highs and lower lows since May 12.

If the bulls succeed in breaking out of this wedge, the ensuing rally could propel the price 66% from the current level of $0.7199 to reach the $1.1906 mark.

At the time of this analysis, Pi trades below the 50-period Exponential Moving Average (EMA), which stands at $0.7426. However, the token recently showed an upward wick with increasing volume, indicating that bulls are testing the wedge's resistance.

A decisive close above this resistance, accompanied by strong volume, would be required to confirm the breakout from the falling wedge.

The Relative Strength Index (RSI), currently at 42.75, is also showing a change in momentum as it gradually climbs toward the neutral 50 level from oversold territory.

Volume will be a key factor to watch. Previous breakouts from this structure were accompanied by a noticeable spike in trading activity. Similarly, a significant surge in volume could validate the move toward the $1.1906 price target.

So far, the price has respected the wedge boundaries since May 12, forming lower highs and lower lows as it gradually approaches the pattern's apex.

With the breakout attempt now in progress, a close above the upper trendline and the 50 EMA would be needed to confirm the potential for a bullish reversal.

However, if the bears regain control and the price drops back from the wedge resistance, it could signal a continuation of the downtrend. In this scenario, the next support level to watch is at the lower trendline of the wedge, around $0.60.

Keep in mind that this analysis is based on the one-hour time frame and may not capture all the nuances of the price action at lower time frames. It's essential to use a combination of technical indicators and fundamental analysis for a comprehensive view of the market trends.

Pi Coin Eyes 66% Rally As Falling Wedge Forms On May 19 Chart

On May 19, 2025, the one-hour chart of Pi Network (PI/USDT) on OKX shows that the token is forming a falling wedge pattern.

This structure is typically encountered in a downtrend, where the price moves between two downward-sloping, converging trendlines. In this case, the wedge's apex is nearing completion, with the price forming lower highs and lower lows since May 12.

If the bulls succeed in breaking out of this wedge, the ensuing rally could propel the price 66% from the current level of $0.7199 to reach the $1.1906 mark.

At the time of this analysis, PI trades below the 50-period Exponential Moving Average (EMA), which stands at $0.7426. However, the token recently showed an upward wick with increasing volume, indicating that bulls are testing the wedge's resistance. A decisive close above this resistance, accompanied by strong volume, would be needed to confirm the breakout from the falling wedge.

The Relative Strength Index (RSI), currently at 42.75, is also showing a change in momentum as it gradually climbs toward the neutral 50 level from oversold territory.

Volume will be a key factor to watch. Previous breakouts from this structure were accompanied by a noticeable spike in trading activity. Similarly, a significant surge in volume could validate the move toward the $1.1906 price target.

So far, the price has respected the wedge boundaries since May 12, forming lower highs and lower lows as it gradually approaches the pattern's apex.

With the breakout attempt now in progress, a close above the upper trendline and the 50 EMA would be needed to confirm the potential for a bullish reversal.

However, if the bears regain control and the price drops back from the wedge resistance, it could signal a continuation of the downtrend. In this scenario, the next support level to be considered is at the lower trendline of the wedge, around $0.60.

It's important to use a combination of technical indicators and fundamental analysis for a complete understanding of the market trends.

Coin Price Drops Another 25% As Nicolas Kokkalis Makes Rare Appearance At Consensus 2025

The turbulence continues for Pi Network, with the price