Rumors of Phase 2 Migration Spark 60% Rally Signal for Pi Coin
Summary
- Pi Coin price may be poised for a 60% surge as anticipation builds around the upcoming Phase 2 migration.
- Official date for Phase 2 remains unconfirmed, but speculation is growing among users on X (formerly Twitter) that it could launch soon.
- A bullish triple-bottom pattern has formed on the Pi Network chart, suggesting a potential rebound toward the $1 price level.
Pi Coin Price Eyes 60% Rebound Amid Phase 2 Migration Speculation
Pi Coin has dropped to a key support level this week, setting the stage for a possible 60% rebound toward the $1 mark. The decline comes as rumors surrounding the much-anticipated Phase 2 mainnet migration gain momentum. If confirmed, the update could address long-standing user concerns around delayed KYC verifications — a development that may help restore confidence and drive renewed interest in the Pi Network token.
Technical Analysis Suggests a Potential Recovery
On the eight-hour chart, Pi Coin remains under significant selling pressure, having tumbled from a May high of $1.6665 to around $0.6485. The price is now trading below the 50-period moving average, indicating that bearish sentiment has gained the upper hand.
However, there are signs of a potential turnaround. The coin has reached a critical support level that aligns with an ascending trendline connecting key lows since April. This confluence could act as a launchpad for a recovery. Notably, Pi Coin has formed a bullish triple-bottom pattern, with a neckline at $1.6664 — a formation that typically signals bearish exhaustion and a possible shift toward upward momentum.
Technical Indicators Point Toward Potential Recovery
Despite recent weakness, technical indicators suggest that Pi Network could be poised for a reversal. Trading volume has declined sharply over the past few weeks—a condition that often precedes a rebound, particularly during the accumulation phase described in Wyckoff’s Market Cycle. This phase is typically marked by subdued activity in both spot and futures markets, as smart money quietly builds positions.
The Relative Strength Index (RSI), which recently bounced from the oversold level of 30, is now trending upward—an early bullish signal. Likewise, the MACD indicator is showing signs of a bullish divergence, forming higher lows even as the price continues to dip. This divergence often precedes a trend reversal.
If the triple-bottom pattern identified earlier holds, it reinforces the case for a significant rebound. The first major resistance to watch is the psychological $1 level—around 60% above current prices. A breakout above that threshold could open the door for a retest of May’s highs.
However, if the price drops below the support formed by the triple-bottom, the bullish thesis would be invalidated. In that scenario, Pi Coin could decline toward its all-time low of $0.40.
Phase 2 Migration Rumors Gain Momentum
One of the key narratives supporting a possible price recovery is speculation surrounding Pi Network’s Phase 2 mainnet migration. Several active users on X (formerly Twitter) have hinted that this migration could be imminent. One widely shared post urged Pi pioneers to reverify their wallets and complete two-factor authentication in preparation.
While the Pi Core Team has not officially announced a date, they recently confirmed that the migration of users in the current queue is underway. This ongoing phase includes those who have received mining rewards, lockup bonuses, and other verified network incentives.
The team also clarified that Phase 2 will only begin once the initial migration concludes, and it will include referral mining rewards tied to team members who have successfully completed KYC verification. Beyond this, Pi Network plans to introduce periodic migration rounds, offering additional rewards for eligible users.
Although the Phase 2 migration could act as a short-term catalyst—especially by addressing long-standing KYC delays—there are headwinds. The increasing supply of Pi tokens on exchanges and the scheduled unlocking of over 1.5 billion tokens over the next 12 months could put downward pressure on prices if demand fails to keep pace.
Summary: Can Pi Coin Rebound?
After a sharp drop from its May highs, Pi Network’s token remains under pressure, with traders eyeing the next big catalyst. In the absence of a major exchange listing, which many see as the ultimate trigger for sustained price growth, Phase 2 migration rumors have become the market’s focal point.
While technical indicators and bullish chart patterns suggest the potential for a 60% rebound, much depends on confirmation of the migration timeline and broader demand dynamics. Until then, Pi’s price action will likely remain highly sensitive to both technical levels and community speculation.
