Pi Network Price Prediction: Whales Buy Nearly One Million PI, Technical Patterns Indicate a New Round of Pump

Pi Network (PI) has recently broken through the classic 'Adam and Eve' pattern, which the market interprets as a possible reversal indicators. On-chain data shows that a large investor has accumulated nearly 980,000 PI within 24 hours, with holdings exceeding any single Centralized Exchange (CEX). Although short-term buying momentum has slightly cooled, the technical aspects still leave room for long positions to rebound.

Whale Fund Flow: Daily Accumulation of 2.25 Million PI

According to PiScan data, in the past 24 hours, four of the five largest transactions on the Pi Network came from the same whale-level investor, who purchased over 2.25 million PI, worth approximately $901,500.

Among them, the largest single transaction was 984,914 PI, bringing the total holdings of that investor to 351.74 million, surpassing the wallet balance of any single Centralized Exchange. Such a scale of accumulation is typically seen as a strong signal of market confidence.

Technical Analysis: Backtest Support After Breakout Pattern

(Source: Trading View)

The PI token broke through the "Adam and Eve" pattern last Friday, reaching a high of $0.4661 on Sunday, before retreating to $0.3950.

On the 4-hour chart, PI received support at the 50-period Exponential Moving Average (EMA) of $0.3863, rebounding over 3% on Monday and regaining the $0.4000 level.

RSI indicator: Currently at 58, above the midline, indicating that although buying pressure has weakened, there is still room for upward movement.

MACD indicator: After a sell signal appeared on Sunday, it has turned flat, indicating that short-term momentum is looking for direction.

Short-term Key Price Levels and Upside Targets

If the PI can break through the 200-period EMA (0.4271 USD), it is expected to challenge the July 23 high of 0.4734 USD, opening up greater upside potential.

Conversely, if the support at 0.4000 USD fails, the price may test the 50-period EMA (0.3864 USD), potentially triggering a deeper correction.

Investor Sentiment and Market Outlook

The current market sentiment towards PI is "cautiously optimistic":

Bullish factors: whales continue to accumulate, break through classic patterns, solid support levels.

Potential risks: short-term buying momentum weakening, technical indicators consolidating sideways, macro market fluctuations may affect capital inflows.

If there is a subsequent increase in on-chain activity and continuous capital inflow, PI is expected to continue its Rebound trend and attract more investors' attention.

Conclusion

After Pi Network (PI) broke through the "Adam and Eve" pattern, it welcomed a whale-level massive increase in holdings, injecting new upward momentum into the market. Although the short-term momentum appears slightly weak, both the technical and funding aspects still favor long positions. Investors should pay attention to the defense of the support at $0.4000 and the resistance at $0.4271, as this will determine whether PI can initiate a new round of upward trends. For more real-time market updates and on-chain data analysis, please follow the official Gate platform.