 ▲ Pi Coin (PI) / ChatGPT-generated image © |
Pi Coin (PI) has resumed its upward trend amid expectations of a U.S. exchange listing, drawing renewed market attention.
According to investment media outlet FXStreet on March 12 (local time), PI is trading near $0.23, marking a gain of about 10% this week. Over the past month, Pi Coin has posted an increase of roughly 30%, continuing a gradual recovery trend.
The rally comes on the back of listing news from U.S.-based exchange Kraken. Kraken officially announced via social media that it will list the PI token, with trading set to begin on Friday, March 14, one day before Pi Day. Following OKX, Kraken becomes the second U.S.-based exchange to support PI, and analysts say the listing signifies expanded access to the U.S. market.
Market data also indicates a rapid rebound in retail investor interest. According to on-chain analytics platform Santiment, social mentions related to PI rose to 17, while its social dominance among the top 100 cryptocurrencies increased to 0.011%. Generally, rising social metrics signal growing retail interest and are interpreted as a factor that enhances short-term upside potential.
Technically, the short-term uptrend remains intact. PI is approaching its previous high of $0.2396, and a breakout above this level could target the 200-day exponential moving average at approximately $0.2837. Subsequent resistance levels are identified around $0.2913 and $0.3984.
However, the pace of gains may slow. The Relative Strength Index (RSI) stands at 68, nearing overbought territory, while the Moving Average Convergence Divergence (MACD) maintains bullish momentum but does not yet signal a strong trend expansion. Short-term support levels are seen at the psychological $0.20 level, the 100-day moving average at $0.1989, and the 50-day moving average at $0.1866.
According to CoinMarketCap, PI was trading as high as $0.2418 at the time of reporting.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses resulting from its use. The content should be interpreted solely for informational purposes.*