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Pi Network (PI) has recently halted its downward trend and successfully rebounded as strong buying interest emerged at a key support level, drawing investors’ attention.
According to cryptocurrency media outlet FXStreet on February 24 (local time), Pi Network snapped a three-day losing streak and rebounded by about 2%, showing signs of recovery. The market is paying close attention to the fact that this rebound coincides with an outflow of Pi coins from centralized exchanges (CEXs). Generally, asset outflows from CEXs are interpreted as a sign that investors are opting for long-term holding or transferring assets to private wallets instead of selling, thereby reducing direct selling pressure in the market.
Although Pi Network recently marked the first anniversary of its mainnet launch, the price declined contrary to expectations, dampening investor sentiment. In particular, the price of Pi coin fell dangerously close to its all-time low of around $0.13, spreading fear across the market. However, strong buying interest flowed in at the $0.1533 support level—identified by technical analysts as the last line of defense—successfully preventing further declines and laying the foundation for the current rebound.
Pi coin is now engaged in a tough պայք싸 to reclaim the 50-day exponential moving average at $0.1758. Key technical indicators such as the Relative Strength Index (RSI) are gradually recovering from oversold territory, creating a short-term buying advantage. Analysts suggest that if Pi Network decisively breaks above the $0.1919 resistance level, there is sufficient potential for an additional rally toward $0.2177.
A recently released first-anniversary video by the Pi Network Foundation focused on network expansion and the transition to mainnet but failed to trigger an immediate market reaction. However, positive on-chain data—including retail investors engaging in dip buying and a reduction in CEX-held supply—has raised expectations that the bottoming process is gaining momentum. Experts note that the mid- to long-term trend will depend on whether Pi coin can establish stability above key moving averages.
This latest rebound in Pi coin is being evaluated as the result of holding critical technical support levels alongside improving on-chain indicators. Investors are closely watching whether the $0.1758 level can be surpassed as they assess the potential for further gains. Market attention is focused on whether Pi Network can fully reverse its downtrend and secure new upward momentum based on this recovery.
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