The Pi Network’s price has been stagnant this week, with traders awaiting a catalyst for its next surge. Following a 80% drop from its peak in 2023, the coin currently trades at $0.57. This decline is accompanied by significant drops in trading volume, reaching just $47.5 million in the past 24 hours. Despite this stagnation, analysts suggest Pi Network’s price is poised for a parabolic movement in the coming weeks. 19-year-old crypto research method known as the Wyckoff Method suggests Pi Network is currently in an accumulation phase – characterized by low trading volume and sideways movement. This is often followed by a markup phase, where news events drive investor demand. The upcoming potential catalyst could come from an exchange listing on platforms such as HTX, Upbit, Binance, or Coinbase, which would likely trigger increased demand for the coin. Another sign pointing towards a price increase is a tightening Bollinger Bands pattern in the Pi Network’s chart. This indicates imminent market volatility and strong movement. A potential bullish breakout is being indicated by a narrowing of the Bollinger Bands, and by a bullish divergence pattern on the Awesome Oscillator indicator. A breakout could send Pi Network’s price to the psychologically significant level of $1 – representing a 74% gain from current levels. Conversely, a bearish breakout could lead to a price drop toward the $0.50 mark.