How High Can Pi Coin Go?

Pi Network price extended its weekly rally, attracting fresh market attention. The token stayed above $0.16 despite mild bearish pressure and brief consolidation over the past day. 

Pi coin price recovered its February 11 all-time low of $0.1312, indicating a recovery of 24%, and indicating possible bullish behavior in the future.

Pi Coin Price Eyes Bullish Momentum as Pi Network Marks Open Network Anniversary

Pi Network marked the first anniversary of its Open Network on February 20 and released a strategic update focused on long-term progress. 

The message focused on the development of the ecosystem and not the temporary movements of the market. The number of users who have already moved to Mainnet on completing KYC verification exceeds 16 million, which is an indication of a consistent growth of the community.

The transition to the Open Network terminated the previously closed system in the project and enabled broad connectivity to the blockchain.  This transition enabled external transactions and expanded real utility across the network. 

In the last year, the team focused on building infrastructure and enhancing governance. According to the founders, stability of the system and consistency of its execution was a priority.

In a 28-minute update, the co-founders Nicolas Kokkalis and Chengdiao Fan explained their vision of the future. They responded to frustration of the community regarding the performance of the token, which is still much lower than optimal. 

Their primary objective is to create a powerful ecosystem backed by practical use. One of the projects being tested is a token-generation feature where the developers will be able to produce and roll out new tokens.

The most recent Version 19.6 Protocol enhances the coordination of nodes and network stability. Migration Version 20 is also being developed and should feature more upgrades as the platform progresses to a different stage of development.

The community has gained momentum due to speculation of a possible listing on Kraken. Most users feel that the anniversary update depicts the fact that long-term growth is the primary focus of the project.

Pi Network Price Eyes Key Levels: Is a Return to $0.30 Ahead?

As of the latest, PI Coin price traded at $0.1635, showing a slight decrease of 3% over the past 24-hours.  The token remained close to the lower end of its recent trading band, and the direction of the momentum was towards decreased bullishness.

The Chaikin Money Flow (CMF) was under zero, meaning declining buying power. This trend could be an indicator of pessimism as capital inflow reduces.

In the meantime, the MACD line crossed under the signal line. This reversal implied reduction in momentum following the mid-month spike. The histogram also remained negative, and this strengthens the cooldown.

If selling continues, PI Coin may retest the $0.15 support zone. A breakdown could expose the market to deeper pressure toward $0.12. On the upside, buyers must reclaim $0.18 to revive short-term confidence as per the full Pi Coin forecast report. 

An obvious breakout above that point can leave a way to $0.20. Additional strength might be aimed at $0.25 and later at $0.30, should the wider sentiment become better.