Pi Network price shows a strong bullish reaction from the 0.618 Fibonacci Golden Pocket, forming an engulfing candle that signals a reversal toward the $0.29 resistance.
Summary
- Pi Network bounces from the 0.618 Fibonacci golden pocket.
- Bullish engulfing candle confirms renewed buyer demand.
- Holding above support keeps $0.29 rally in play; losing it risks $0.19 retest.
Pi Network (PI) has shown early signs of recovery after finding strong support at the 0.618 Fibonacci golden pocket, a critical confluence zone where bullish momentum has re-emerged. The move comes after a period of sustained weakness, where price failed to hold above the value area high before reversing sharply into the golden pocket support region.
Pi Network price key technical points:
- Golden Pocket Support: The 0.618 Fibonacci retracement acts as the key pivot zone for potential reversal.
- Bullish Engulfing Candle: A 4H engulfing pattern formed at support, confirming strong buyer interest.
- Next Target: $0.29 remains the immediate resistance for continuation if volume sustains.
From a technical perspective, Pi Network’s current structure reflects a classic Fibonacci-based reaction. After a rejection near $0.29, price action retraced precisely into the 0.618 golden pocket, where buyers have now stepped in with conviction. The bullish engulfing candle that followed is accompanied by visible volume influxes on the volume profile, a key confirmation of renewed buying interest.
This confluence between the Fibonacci level, local volume support, and structural base suggests that the $0.20–$0.22 region could serve as a short-term accumulation zone before price attempts to rotate higher. As long as the market holds above this pocket, the probability of a rally back toward $0.29 remains high.
However, if price fails to sustain above the 0.618 Fibonacci level, the bullish setup would weaken. A decisive breakdown could expose the next high-timeframe support near $0.19, the base of the prior rally, effectively negating the current reversal attempt.
Market structure remains cautiously bullish as long as price holds above the golden pocket zone. The engulfing candle signifies that momentum has shifted, but confirmation requires continued bullish volume influxes in the coming sessions.
If buying pressure strengthens, Pi Network may reclaim short-term moving averages and retest the $0.29 resistance, where a breakout could trigger further upside continuation. Conversely, waning demand could lead to sideways consolidation before any decisive move.
What to expect in the coming price action
Pi Network’s $0.20–$0.22 region will serve as the pivotal zone to watch. Sustained price action above this level with strengthening volume would confirm that the golden pocket bounce has initiated a genuine reversal. A clean breakout toward $0.29 would reaffirm the return of bullish sentiment and likely extend the current recovery trend.
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