Pi Network (PI/USDT) Forms Descending Triangle — 25% Drop in Sight?

Pi Network (PI) is at a critical moment as bearish technical signals clash with bullish listing rumors. The price patterns on the daily chart suggest a potential continuation of the downtrend towards $0.45, but rumors of an HTX listing and the anticipation surrounding the project’s token grant program are keeping some traders optimistic.

As of April 29, 2025, the daily chart for Pi Network (PI/USDT) on OKX shows the formation of a descending triangle pattern. This pattern occurs when the price of an asset makes a series of lower highs and a horizontal support level over time, indicating decreasing buying pressure.

The price of Pi Network has been consolidating inside this pattern, with lower highs marked by a sloping resistance line and a flat support near $0.60. The Relative Strength Index (RSI) is at 40.17, lower than the neutral 50 mark, indicating less strength in the recent price increases. The 50-day Exponential Moving Average (EMA) is far above the price at $0.9255 and still sloping downwards, highlighting the dominant downtrend.

If the descending triangle pattern breaks to the downside, we can expect the price to fall by the height of the triangle’s widest part. This suggests a possible 25% decline, targeting a drop towards approximately $0.45. Volume has also decreased steadily, which is typical before a breakout, but a spike in volume would likely confirm the breakout direction.

Despite the recent price decline, some users on X are still making optimistic forecasts about Pi Network (PI), especially in the context of its token grant program and the rumors of a potential listing on Huobi Technology Holdings' (HTX) exchange.

One of the more vocal figures, MOON JEFF, who has been following the project closely and keeping the community updated, predicted that PI could eventually reach $1. However, his past statements tell a different story. At the beginning of April, he described Pi Network as "a slow rug," implying that hopes of a $1 target are unrealistic and "just a dream."

Another user, Kuzo, expressed even stronger concerns after spending the past month researching the project and making several posts about his findings. According to Kuzo, Pi Network "doesn't look good" and his investigation suggests that the situation could result in massive financial damage.

"People will lose millions or even billions of dollars. It's worse than you could've imagined. If you're still holding, think twice. I'll drop my investigation soon, make sure you're following," Kuzo stated in one of his posts.

While some still have faith in PI's long-term potential, others now fear that the project could collapse, leaving investors exposed to significant losses.

In a surprising turn of events, HTX, a leading cryptocurrency exchange, has been teasing the possibility of a Pi Network listing with several posts on X. Each post features the Pi Network logo in different visual contexts, sparking rumors and anticipation among community members.

Moreover, HTX stands among the top-tier crypto exchanges, with daily trading volumes averaging $1.7 billion. A listing on this platform could trigger a wave of retail participation and boost PI's overall liquidity.

Currently, Pi Coin is already listed on exchanges like OKX and Bitget. Historically, new listings tend to spark bullish moves in token prices, especially for younger coins. If HTX confirms the listing, we could see a fresh surge in demand for Pi Network.