Date: Sat, March 22, 2025 | 01:19 PM GMT
In the cryptocurrency market, history doesn’t always repeat—but it often rhymes. Pi Network (PI), after six years of development, officially launched its mainnet on February 20, 2024. Since then, the project has been closely watched by the crypto community, not just for its unique mobile-first mining model, but also for its intriguing price movement.
Following its debut, PI saw a strong surge, briefly touching $3 before facing a correction that brought it back to the current trading range of around $1. While price volatility is common in early-stage listings, what’s capturing attention now is something far more interesting—a possible repetition of a historical pattern seen in Ethereum’s (ETH) early days.
PI Mirrors Ethereum’s Early Listing Phase
Our recent comparative chart analysis between Ethereum’s early listing period and Pi Network’s current listing period price behavior shows striking similarities. Both assets display a falling wedge pattern, a well-known bullish reversal formation in technical analysis.
Looking back at Ethereum in 2015–2016, the coin entered exchanges at a price close to $1 and moved into a low-volatility phase, clearly marked by a falling wedge structure. After several weeks of consolidation, ETH broke out of this wedge, and a move above its 15-day moving average (15D MA) triggered a sharp bullish rally. This breakout didn’t just signal momentum—it delivered results. ETH surged over 1,400%, climbing from around $0.85 to over $14 within a couple of months.
Fast forward to 2025, Pi Network appears to be painting a similar picture. On the right side of the chart, PI is consolidating in a falling wedge pattern, with its current price hovering around $1—the same level ETH was trading before its breakout. The 15D MA is also hovering just above the price, much like ETH’s setup before its surge.
If Pi follows the same path as Ethereum, it doesn’t take a technical analyst to imagine what could come next.
Is History Repeating?
Of course, it’s important to approach chart similarities with caution. Ethereum’s rise was powered by groundbreaking smart contract technology and early developer adoption. Pi Network, while growing rapidly in user numbers, is still in the process of defining its core utilities and building tangible use cases in the ecosystem.
However, markets often move in patterns, reflecting collective psychology more than just fundamentals. And if the current chart structure is any indication, Pi Network could be quietly preparing for a similar breakout phase.
The momentum may depend on several factors—market sentiment, utility rollout, exchange integrations, and broader crypto trends. But from a pure technical perspective, all eyes are now on whether Pi can break above the wedge and its 15D MA, just as Ethereum once did.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.
