Pi Network (PI) Price Surges Despite Broader Crypto Market Decline

Pi Network recently gained attention after Binance held a community vote from February 17 to February 27 for its potential listing.

Pi Network (PI) price is showing strength despite a broader crypto market decline. Over the past 24 hours, PI has risen 5%, defying the downturn with a potential rebound on the horizon.

However, the trending coin faces challenges in regaining upward traction as technical indicators suggest a struggle for dominant momentum. The MACD remains in negative territory, signaling bearish dominance, while the RSI sits at 35, hovering near oversold levels. This suggests that sellers are still in control, but a potential recovery could emerge if buying pressure increases.

Key support remains firm at $1.00, while resistance is located at $1.50. A breakout above this level could push Pi toward the $2.00 mark, marking a 43% surge from its current price. However, failure to hold above $1.50 may lead to further declines, with $1.00 being the next critical support zone.

If Listed On Binance, How High Can Pi Network Price Go?

Pi Network recently came into the spotlight when Binance opened a community vote for its potential listing.

Verified users with at least $5 in assets participated via Binance Square from February 17 to February 27. The vote, which ended with 86% of 294,955 voters supporting the listing.

However, Binance stated that the results were “for reference” as the exchange is now using a different listing program, which provides a co-governance system for token listings and delistings. This system allows the community to provide input on future listings.

This follows suggestions from users for Binance to add Pi Network and other tokens to its exchange, with the exchange announcing updates to its listing process following evaluations.

The Pi Network community remains optimistic about a potential listing under the new framework.

Currently, Pi Network is listed on major exchanges such as OKX, Bitget, MEXC, and Gate.io. However, tier-1 platforms like Binance, Coinbase, Upbit, Crypto.com, and Kraken have yet to add the token.

At the same time, Pi Network’s market capitalization stands at $9.85 billion, securing the 11th position in global rankings.

Its price movement remains closely watched as speculation continues regarding a possible Binance listing. The exchange’s updated approach may influence the token’s future accessibility and valuation.

Pi Price Holds Support, Eyes Recovery

The latest Pi price is $1.37, reflecting a slight 5% increase in the past 24 hours.

However, the trending coin remains under pressure as it struggles to reclaim key resistance levels. The price has been fluctuating between $1.00 and $2.00, with current momentum indicating a potential rebound if buyers step in.

The MACD remains in negative territory, signaling that sellers have a slight upper hand. A crossover above the MACD line could pave the way for a bullish reversal.

Additionally, the RSI is at 35, suggesting that the sellers are exhausted. However, a failure to break above the RSI 50 level may limit the potential for a swift recovery.

Key support is at $1.00, which has held the price from further declines. On the other hand, resistance is at $1.50, and a breakout could open the door for a move toward $2.00.

A successful breach and closure above $1.50 may set the stage for a 43% rally to reach the $2.00 price point. Conversely, if the buyers fail to maintain the price above $1.50, it could slide back toward the $1.00 support.

To sum up, the Pi Network price momentum remains in focus as anticipation grows over a Binance listing. A confirmed listing could drive prices higher, fueling renewed optimism among market participants.

Frequently Asked Questions (FAQs)

Which exchanges currently support Pi Network trading?

Pi Network is currently listed on several major cryptocurrency exchanges, including OKX, Bitget, MEXC, and Gate.io. However, tier-1 platforms such as Binance, Coinbase, Upbit, Crypto.com, and Kraken have yet to add the token.

How could a Binance listing affect Pi Network’s price?

A listing on Binance, one of the largest cryptocurrency exchanges, could significantly increase the demand for Pi Network and, in turn, drive up its price. The anticipation of such a listing has already contributed to speculation and interest in the token.

What are the key price levels to watch for Pi Network?

On the downside, the key support level for Pi Network is at $1.00, where the price has found support in the past. On the upside, the next resistance level is at $1.50, which could be a barrier for further gains. A breakout above $1.50 could open the door for a move toward the $2.00 level