The target rise for the "double bottom" model on the weekly chart of Pi coin is 160%!.

Pi Network (PI) token, despite the controversies, is an extremely popular digital asset that seems to be forming a classic bullish "double bottom" pattern on its weekly chart. This technical setup has put traders on high alert for potential short-term compression.
According to CoinMarketCap data, a short-term rise is expected, especially considering the совпадение of social signals and technical signals.
Bull Market Plan: "Double Bottom" on the Weekly Chart.
The weekly chart of PI/USDT shows a clear double bottom pattern, with support around $0.5850 and the neckline around $1.6708. This pattern is typically seen as a reversal signal, especially in the current structure accompanied by a decrease in volume and volatility.
Breaking through the psychological resistance of $1.00 may trigger a move towards the neckline of $1.6708, rising 160% from the current level. Beyond this level, Fibonacci extension levels suggest an ambitious target range of around $2.40 ( 1.618) and a possible $3.50 ( 2.618), if momentum continues to build.
However, if the coin pair fails to stay above $0.5497, which is the last local low, this will turn the optimistic outlook into a bubble and may open the opportunity for a retest near the historical low of $0.40. Daily indicators show that momentum is strengthening.
The daily chart adds depth to the bullish argument but also emphasizes the need for caution. The Relative Strength Index ( RSI ) is currently at 42, indicating neutral momentum, neither overbought nor oversold. This suggests that the PI is consolidating and may be preparing for the next directional movement.
The MACD shows early bullish crossover signals. The histogram is flattening, and the MACD line is approaching the signal line from below. If this crossover is completed in the coming days, it will support the narrative of a bullish breakout. The Fibonacci retracement levels measured from the highest to the lowest point of the fluctuations provide potential resistance points. Key retracement levels include:
0.382 ($1.0288)
0.5 ($1.1603)
0.618 ($1.2917)
0.786 ($1.4789)
They can serve as profit locking zones or resistance levels in an uptrend, where the $1.00 mark aligns with the 0.382 level.
What could cause a temporary compression of pi?
This sentiment is supported by the increasingly dominant social position, currently at 0.276%, the highest level since May 21. Social sentiment often precedes price movements, especially in the case of highly speculative assets. Also drawing attention is the upcoming Pi Day 2 event on June 28, which marks the end of the .pi domain auction and the conclusion of the Open Network PiFest. This could be the fundamental catalyst needed to push PI above resistance and confirm a bullish double bottom formation.