Date: Sun, March 23, 2025 | 08:25 AM GMT
The crypto market is showing minor signs of a rebound as Ethereum (ETH) bounces back with a 4.89% weekly gain, while a 0.26% decline in BTC dominance has given altcoins some breathing room after months of selling pressure.
As market sentiments gradually improve, two recently listed altcoins, Pi Network (PI) and Story (IP), are gaining traction. Both tokens are approaching key resistance levels, and potential breakouts could trigger an upside move.
Pi Network (PI)
Since hitting its peak of $3.00 on February 26, PI has been in a persistent downtrend, shedding over 70% of its value. On March 21, PI touched the support trendline at $0.85, where buyers stepped in to defend the level.
Pi Network (PI) Daily Chart/Coinsprobe (Source: Tradingview)
Currently, PI has bounced back to $1.08 and is nearing the upper resistance trendline of a falling wedge pattern. If the price successfully breaks out and confirms a retest, it could mark the beginning of a recovery rally targeting the next resistance levels at $1.24 and the 10-day moving average (MA).
A decisive move above this level could propel PI toward its next resistance of $1.79, which represents a 73% potential upside from the current price.
Story (IP)
Story (IP) has been consolidating within a symmetrical triangle pattern, clearly visible on the daily chart. In late February, IP faced a rejection at the $7.95 resistance level, which marked the upper boundary of the triangle. This rejection led to multiple pullbacks toward the lower support.
Story (IP) Daily Chart/Coinsprobe (Source: Tradingview)
Currently, IP is trading at $5.75 and is once again testing the triangle’s upper resistance. A successful breakout above this level, confirmed with a retest, could send the price toward the next resistance levels at $6.66 and $7.40, offering a 27% upside potential from its current price.
What’s Ahead?
Both PI and IP are at critical technical levels, with their price action aligning with classic breakout patterns. If market sentiment remains positive and Bitcoin continues its stable movement, both altcoins could see substantial price increases in the coming weeks.
However, traders should remain cautious and wait for confirmation of breakouts before making trading decisions. A rejection at these resistance levels could lead to further downside movement.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
