Pi Network (PI) Breaks Out, Could Signal Upside Rebound

The cryptocurrency market experienced significant price fluctuations this week, and one token attracting attention is Pi Network (PI). Speculation surrounding a major announcement by the Pi Core Team earlier this month led to a price surge, followed by a sharp correction after the actual news was revealed. A classic ‘buy the rumor, sell the news’ scenario played out in the market. However, recent signs indicate a potential rebound for PI. 5th May saw an intraday increase of nearly 8%, with the token now breaking out from a falling wedge pattern on its 3-hour chart, signaling potential upside movement. 100 MA resistance at $0.84 stands as a critical next step.