Pi Network Price Forecast: PI eyes bullish breakout amid RoboPay payment partnership

Pi Network (PI) edges higher on Wednesday, testing the breakout of a near-term triangle pattern. The recent payment partnership with Robopay signals growing adoption on Pi Network. The technical outlook for PI indicates a mild bullish bias with selling pressure waning.

Demand holds firm amid new partnership

Fabric Foundation announced in a social media post on Wednesday that Pi Network has joined RoboPay as a payment partner. The integration will enable Pi users to pay for robot services such as deliveries, security patrols, inspections, and humanoid in PI tokens.

In addition, speculative demand for Pi Network holds firm so far this week. CoinAnk data show that the PI futures Open Interest (OI) is $8.82 million on Wednesday, up from $8.51 million the previous day, indicating an increase in the notional value of active perpetual contracts, likely driven by positional buildup.

Technical outlook: Will PI regain bullish momentum?

Pi Network extends its mild recovery on Wednesday, testing the resistance trendline of a short-term triangle pattern near $0.0850, formed within a larger falling channel pattern. PI remains capped below a broader downtrend trendline near $0.0900.

The Moving Average Convergence Divergence (MACD) shows a modest upward trend with its signal line, suggesting some nascent upside momentum. At the same time, the Relative Strength Index (RSI) at 44 shows mild recovery just below the midline, indicating easing downside pressure.

To reinstate an upward trend, the PI must surpass the overhead trendlines cluster near $0.0900, followed by the 127.2% Fibonacci extension level, measured from the $0.1998 high to the $0.1183 low, at $0.0961.

Looking down, the crucial support for PI aligns with the record low of $0.0700 and is reinforced by the 161.8% Fibonacci extension level at $0.0679.

(The technical analysis of this story was written with the help of an AI tool. Know more.)