Since launching its mainnet on February 20, Pi Network (PI) has attracted significant market attention. The token surged from $0,60 to $2,99 by February 26, delivering an almost 400% rally before entering a correction phase. Following a 40% decline, PI has stabilized around $1.75, holding a key support zone amid broader market fluctuations.

Symmetrical Triangle Signals Potential Breakout

On the 2-hour chart, PI is consolidating within a symmetrical triangle pattern — a formation often preceding a significant price movement. After being rejected at $2,99, the price retraced to the ascending support trendline at $1,51 before rebounding to $1,75.

If PI maintains this momentum, it could retest the upper boundary near $2,58. A breakout from this zone may pave the way for an extended rally, with price targets between $4 and $4,50.

Can PI Sustain Its Momentum?

Technical indicators hint at a possible shift in trend, with the MACD showing early signs of a bullish reversal. If the MACD line crosses above the signal line, it could reinforce buying momentum. Additionally, growing speculation about a potential Binance listing and Pi Network’s 6th anniversary on March 14 is fueling market excitement.

While PI remains at a critical juncture, its ability to maintain support at current levels will determine the next move. A successful breakout could drive further gains, while failure to hold support may invite increased selling pressure, potentially pushing the price lower.