Pi Network's price surges 20% on rumors of Binance listing, reaching $1.63

Pi Network's price has increased by 20% in 24 hours, reaching $1.63, although it remains 45% below its all-time high of $2.99.

Pi Network's price has soared by 20% in the past 24 hours, reaching $1.63. However, the token is still down 15.34% on a weekly basis and remains 45% below its all-time high of $2.99, which was hit in February. The strong move upward has generated expectations of a potential breakout.

The surge in price comes as the deadline for users to migrate their tokens from the testnet to the mainnet is fast approaching. This process needs to be completed by 08:00 AM (UTC) on March 14, after which the window will close. The days leading up to this deadline have been hectic for Pi, with some users encountering issues with the KYC verification system.

These technical glitches have left many users unable to proceed with the migration of their assets. As a result, they will forfeit their claim to the mainnet tokens, which are valued at a significantly higher price than the testnet tokens.

On the other hand, there has been speculation about the possibility of Binance listing Pi. Recently, the exchange conducted a poll where 87% of participants voted in favor of the token's inclusion on Binance.

Although Binance has not yet made a decision on listing the token, the expectation of a potential listing has strengthened the positive sentiment among holders.

From a technical standpoint, PI has found support around the $1.60 mark and has maintained increasing trading volume. Resistance is anticipated in the $1.75 to $2.00 range. If the bulls can maintain control and push the price above this level, the next target could be $2.

A decisive close above $2 could open the door for another run toward the all-time high. However, if the bears regain control and break the $1.60 support, the next support level is at $1.00.