Pi Network’s PI token is showing pockets of resilience even as the broader crypto market cools, retesting resistance above $0.16 after bouncing from recent lows.
On-chain flows point to reduced sell-side pressure
PiScan data shows a sharp decline in PI balances on centralized exchanges over the past 24 hours, with roughly 778,434 PI pulled from platforms including OKX, Bitget and MEXC. Those net outflows look more like accumulation than distribution, easing immediate selling pressure and coinciding with a modest uptick in daily trading volume as the token hit intraday highs.
Fundamental catalysts: mainnet progress and community input
The token’s technical moves are unfolding against active project development. Pi Network has accelerated KYC verifications and mainnet migrations as part of its Open Network expansion. The Pi Core Team has also published details on the Ecosystem Token Design and opened a Pi Request for Comment (PRC) to gather community feedback—milestones that have helped bolster investor confidence.
Technical picture: mixed, with clear levels to watch
Despite the recent bounce from $0.13 (the Feb. 11 all-time low), PI’s near-term technicals remain cautious:
- Short-term performance: PI is down ~9% over the past week, ~11% month-to-date, and ~20% year-to-date.
- Indicators: Oscillators are largely neutral; moving averages skew toward “strong sell.” The daily MACD shows a bearish crossover, while the RSI sits near 46—hinting at the potential for a rebound but not confirming it.
- Key levels: A sustained hold above $0.15 would give bulls room to target $0.18 and then $0.27. Failure to hold $0.15 could expose the market to renewed downside toward $0.13, while a break of the downtrend line traced to the Oct. 10, 2025 sell-off would further favor bears.
What could move PI next
The immediate outlook will likely track broader risk appetite—if crypto markets recover and buyers capitalize on the exchange outflows, PI could extend gains. Conversely, profit-taking at current resistance or a deterioration in macro and geopolitical risk sentiment could flip the setup lower.
Bottom line
On-chain outflows and project milestones provide constructive context for PI’s recent resilience, but technicals remain fragile. Traders should watch $0.15 as the pivotal short-term level: holding it points to upside targets around $0.18–$0.27, while losing it could reopen the path to the $0.13 support zone.
Read more AI-generated news on: undefined/news
