Pi Token Surges 21.3% Amid Binance Listing Hopes, Pi Day

Pi Network’s native token, PI, has experienced a notable rebound following a period of decline, with a 6% gain in the past 24 hours, trading at $1.47 at the time of reporting. This recovery comes ahead of Pi Day on March 14, a date that holds significance for the Pi Network community. Additionally, there is growing market speculation about a potential listing on Binance, which has contributed to the positive sentiment surrounding the token.

The token has seen a significant jump of 21.3% over the past 24 hours, driven by the anticipation of a potential Binance listing and the upcoming Pi Day announcements. March 14 also marks the deadline for Know Your Customer (KYC) completion and the migration of PI holdings from the mobile app to the Mainnet. These developments have triggered a surge in demand for PI, exerting upward pressure on its price.

The Relative Strength Index (RSI) for PI has been steadily rising, reflecting the increased buying activity among spot market participants. The momentum indicator is trending upwards and is poised to break above the 50-center line. When an asset’s RSI attempts to cross above its 50-neutral level, it signals a shift in momentum from bearish to bullish, suggesting that buying pressure is increasing. This could lead to further price gains if the trend continues. A confirmed move above 50 would reinforce positive sentiment around PI and attract more traders looking for upward momentum.

Furthermore, the positive Chaikin Money Flow (CMF) for PI confirms this bullish outlook. This indicator, which tracks how money flows into and out of PI, is above zero at 0.16. This trend indicates that buying pressure is stronger than selling pressure among PI traders, signaling that investors are confident in the asset and increasing the likelihood of further price appreciation.

Despite the recent gains, PI has experienced a steady decline, plummeting over 19% in the past week. This has pushed its price under a key price level of $1.62, which forms significant resistance. If the bullish trend persists and the demand for PI soars, its price could attempt to breach this level. A successful break above $1.62 could propel PI above $2 and closer to its all-time high of $3. However, a resurgence in profit-taking would invalidate this bullish projection, and if selloffs spike again, PI’s price would resume its downtrend and fall to $1.34.