{"id":24117,"date":"2026-10-06T16:44:02","date_gmt":"2026-10-06T16:44:02","guid":{"rendered":"https:\/\/cryptoted.net\/index.php\/2026\/10\/06\/can-a-double-bottom-spark-a-rally\/"},"modified":"2026-10-06T16:44:02","modified_gmt":"2026-10-06T16:44:02","slug":"can-a-double-bottom-spark-a-rally","status":"publish","type":"post","link":"https:\/\/cryptoted.net\/index.php\/2026\/10\/06\/can-a-double-bottom-spark-a-rally\/","title":{"rendered":"Can a double bottom spark a rally?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"is-style-lead\">Pi Network price has fallen toward $0.087 after retreating from last week\u2019s highs, leaving buyers defending rising daily support while a bullish analyst forecast hinges on a break above $0.11.<\/p>\n<div id=\"cn-block-summary-block_6d279bde193ec58cc7b4ac9c95f9cf89\" class=\"cn-block-summary\">\n<p>\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/p>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Pi Network price traded near $0.087 after retreating from its seven-day high around $0.0935.<\/li>\n<li>Daily price remained below the 20-, 50-, 100-, and 200-day simple moving averages.<\/li>\n<li>Protocol 28 has an Oct. 13 node deadline and an Oct. 16 mainnet target.<\/li>\n<li>Gopal\u2019s bullish setup requires a daily breakout above the $0.105\u2013$0.11 neckline.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>CoinGecko recorded PI at $0.08719 on Oct. 6, down 4.3% over its rolling seven-day window, despite a small daily gain. Its weekly range stretched from $0.08611 to $0.09345, placing the token close to the bottom of that band.<\/p>\n<p>On OKX\u2019s daily PI\/USDT chart, price stood at $0.08722, while the 4-hour chart showed $0.08741. Both readings put PI below $0.09, a level the shorter timeframe repeatedly crossed during late September before sellers pushed the token lower again.<\/p>\n<p>The latest decline followed several failed recovery attempts. On the 4-hour chart, PI approached $0.092\u2013$0.094 around Sep. 23, Sep. 27, and Oct. 1, but each advance reversed before price could build a lasting position above that area.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Thin trading accompanies Pi Network\u2019s weekly decline<\/h2>\n<p>CoinGecko\u2019s snapshot put daily trading volume at about $3.24 million, against a market value near $980 million. The provider also recorded a roughly 34% decline in daily trading activity, alongside PI\u2019s underperformance against a broader crypto market that gained 2.7% over seven days.<\/p>\n<p>Taken together, the price and turnover readings show PI losing ground without a sustained increase in trading participation. Falling volume does not identify who sold, but it gives little support to a claim that buyers have already returned in force.<\/p>\n<p>Supply remains part of the project\u2019s broader market backdrop. Pi Network\u2019s <a href=\"https:\/\/minepi.com\/white-paper\/\" target=\"_blank\">white paper<\/a> describes a system in which user balances move to mainnet and voluntary lockups can keep migrated tokens unavailable for a chosen period.<\/p>\n<p>Tokens becoming transferable can increase the amount available to trade. An unlock alone, however, does not establish how much will reach exchanges or how much holders will sell.<\/p>\n<p>The recent daily chart offers a more direct explanation of the weak price structure: PI has struggled to stay above its shorter moving averages, and rebounds have continued to encounter overhead resistance. The weekly decline extends that pattern rather than marking a confirmed reversal of the longer downtrend.<\/p>\n<p>Pi Network has also scheduled a network upgrade during the same period. The team <a href=\"https:\/\/telegram.me\/s\/PiAnnouncements\" target=\"_blank\">announced<\/a> that node operators must update to Protocol 28 by Oct. 13, ahead of a planned mainnet upgrade on Oct. 16.<\/p>\n<p>According to the announcement, Protocol 28 improves the handling of transaction-data delays and lets developers upgrade groups of smart contracts and change stored data more safely. Those are network changes; the announcement makes no price forecast.<\/p>\n<p>PI\u2019s position below $0.09 shows that the approaching upgrade has yet to coincide with a sustained recovery above nearby chart resistance. A successful rollout and a confirmed price breakout remain separate milestones.<\/p>\n<h2 class=\"wp-block-heading\">Daily resistance starts below $0.092<\/h2>\n<p>TradingView\u2019s daily OKX chart places the 20-day simple moving average at $0.08827 and the 50-day average at $0.09096. The 100-day average sits slightly higher at $0.09159, creating a sequence of nearby barriers above the latest price.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"954\" src=\"https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-53-37.webp\" alt=\"Pi Network price near $0.087 tests rising channel support below four daily moving averages, with the Awesome Oscillator below zero.\" class=\"wp-image-14485376\" srcset=\"https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-53-37.webp 1827w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-53-37-300x157.webp 300w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-53-37-1024x535.webp 1024w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-53-37-768x401.webp 768w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-53-37-1380x721.webp 1380w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-53-37-880x460.webp 880w\" sizes=\"auto, (max-width: 1827px) 100vw, 1827px\"\/><figcaption class=\"wp-element-caption\">Pi Network price daily chart \u2014 Oct. 6 | Source: TradingView<\/figcaption><\/figure>\n<p>The first recovery test is therefore around $0.0883. A move through that level would bring the $0.091\u2013$0.092 region into focus, where the 50- and 100-day averages overlap with resistance visible on the shorter timeframe.<\/p>\n<p>The averages are also ordered bearishly: the 20-day sits below the 50-day, which remains below the 100-day. PI would need to recover through several separate levels before the daily chart showed a greater change in direction.<\/p>\n<p>Farther overhead, the 200-day average stands at $0.12537. Its downward slope and distance above price show how much ground the token must regain to challenge the longer-term trend.<\/p>\n<p>The yellow trend lines outline a rising channel following the sharp decline into July. PI is now trading close to its lower boundary around $0.086\u2013$0.087, while the upper boundary extends toward roughly $0.115\u2013$0.12.<\/p>\n<p>A daily break beneath the lower boundary would weaken the channel\u2019s sequence of rising lows. Holding the line would preserve that structure, although PI would still face the moving-average cluster before reaching the channel\u2019s upper edge.<\/p>\n<p>Momentum has not confirmed a bullish recovery. The daily Awesome Oscillator reads -0.00316, with its latest bars below zero, indicating that shorter-term average price momentum remains weaker than the longer comparison period used by the indicator.<\/p>\n<p>The combined daily picture is mixed but tilted lower: rising channel support remains nearby, while price sits below every displayed moving average and the oscillator remains negative.<\/p>\n<h2 class=\"wp-block-heading\">The 4-hour chart puts $0.08545 beneath near-term support<\/h2>\n<p>On the 4-hour chart, three rounded recovery attempts end around the same overhead region. The latest rejection near $0.093 sent PI back toward $0.087, leaving the token below the prior rebound peaks.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"954\" src=\"https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-55-30.webp\" alt=\"Pi Network price trades near $0.087 after repeated rejections around $0.093, with nearby support at $0.08545.\" class=\"wp-image-14485375\" srcset=\"https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-55-30.webp 1827w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-55-30-300x157.webp 300w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-55-30-1024x535.webp 1024w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-55-30-768x401.webp 768w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-55-30-1380x721.webp 1380w, https:\/\/media.crypto.news\/2026\/10\/PIUSDT_2026-10-06_21-55-30-880x460.webp 880w\" sizes=\"auto, (max-width: 1827px) 100vw, 1827px\"\/><figcaption class=\"wp-element-caption\">Pi Network price 4-hour chart \u2014 Oct. 6 | Source: TradingView<\/figcaption><\/figure>\n<p>The Murrey Math overlay marks $0.08698 as a nearby pivot and $0.08621 as the next lower level. Beneath those, $0.08545 is the overlay\u2019s base support, followed by $0.08469, $0.08392, and $0.08316.<\/p>\n<p>A sustained break below $0.08545 would leave the September trough around $0.081\u2013$0.082 as a deeper reference on the visible chart. That would also move price away from the daily channel support currently under test.<\/p>\n<p>For a rebound, the first levels above price are $0.08774 and the central pivot at $0.0885. The next resistance steps sit at $0.08926, $0.09003 and $0.09079, before the upper range level at $0.09155.<\/p>\n<p>Recovering $0.0885 would improve PI\u2019s immediate position within the overlay. Clearing $0.09155 would be a stronger test because it would also take price toward the daily 50- and 100-day moving averages.<\/p>\n<p>The Aroon panel shows readings of 28.57% and 14.29%, with both lines low on their scale. Neither is close to the upper end associated with a recent, persistent run of new highs or lows, leaving the small rebound without a strong trend signal from that indicator.<\/p>\n<h2 class=\"wp-block-heading\">Gopal\u2019s $0.14 target requires a neckline breakout<\/h2>\n<p>In an Oct. 5 post, analyst Gopal identified a potential double-bottom structure on PI\u2019s daily chart, with price around $0.0868.<\/p>\n<p>His setup places the neckline at $0.105\u2013$0.11 and the first upside target near $0.14. He also outlined a higher target of $0.21\u2013$0.22, conditional on the bullish structure developing.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/x.com\/search?q=%24PI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PI<\/a> \u2014 Double Bottom Setup \ud83d\udcc8<a href=\"https:\/\/x.com\/search?q=%24PI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PI<\/a> is showing a potential double-bottom structure on the 1D chart, with price currently around $0.0868.<\/p>\n<p>\ud83d\udccc Current: ~$0.0868<br \/>\ud83d\udfe2 Key resistance \/ neckline: ~$0.105\u20130.110<br \/>\ud83c\udfaf Target 1: ~$0.14<br \/>\ud83c\udfaf Higher target: ~$0.21\u20130.22<br \/>\ud83d\udee1\ufe0f Support: ~$0.075\u20130.080<br \/>The\u2026 <a href=\"https:\/\/t.co\/wUOITkPa8A\">pic.twitter.com\/wUOITkPa8A<\/a><\/p>\n<p>\u2014 Crypto With Gopal (@cryptowithgopal) <a href=\"https:\/\/x.com\/cryptowithgopal\/status\/2107058199543373900?ref_src=twsrc%5Etfw\">October 5, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The analyst said a confirmed daily breakout above the neckline would strengthen the setup and could open the way toward $0.14. His support zone sits at $0.075\u2013$0.08; losing it would weaken the bullish case.<\/p>\n<p>Measured from roughly $0.087, the neckline requires a gain of about 21%\u201326%, while $0.14 would represent approximately 61% upside. The forecast therefore depends on PI clearing resistance well above its current range.<\/p>\n<p>The nearer chart tests come first: $0.0883, the $0.091\u2013$0.092 moving-average cluster, and the recent rebound peaks around $0.093. Until those levels give way, the daily chart remains some distance from confirming Gopal\u2019s larger reversal.<\/p>\n<p>For U.S. investors assessing the dollar-denominated outlook, the distinction is between a recovery toward local resistance and an analyst\u2019s conditional longer move. The immediate chart hinges on support around $0.085\u2013$0.087; Gopal\u2019s bullish forecast hinges on a daily breakout above $0.105\u2013$0.11.<\/p>\n<div class=\"cn-block-disclaimer\">\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/pi-network-price-slides-can-double-bottom-spark-rally\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pi Network price has fallen toward $0.087 after retreating from last week\u2019s highs, leaving buyers defending rising daily support while a bullish analyst forecast hinges on a break above $0.11. Summary Pi Network price traded near $0.087 after retreating from its seven-day high around $0.0935. Daily price remained below the 20-, 50-, 100-, and 200-day [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":23722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[],"kronos_expire_date":[],"class_list":["post-24117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"_links":{"self":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/24117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/comments?post=24117"}],"version-history":[{"count":0,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/24117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media\/23722"}],"wp:attachment":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media?parent=24117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/categories?post=24117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/tags?post=24117"},{"taxonomy":"kronos_expire_date","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/kronos_expire_date?post=24117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}