- Pi coin price surged 203% in the last week to a record $2.99, fueled by rumors of a Binance listing.
- Pi Network’s trading volume skyrocketed 296% to over $3.6 billion, reflecting heightened investor activity.
- The coin remains in a strong uptrend, holding above the 38.2% Fibonacci retracement level at $1.90.
Pi coin price surged 203% in the last week and 32% in the last 24 hours to a new all-time high (ATH) of $2.99 amid Binance listing rumors, defying the broader crypto market downturn.
The crypto market registered a 3% drop in the last 24 hours to a $2.99 trillion market capitalization, according to Coingecko data.
The Pi coin price jump has been accompanied by a massive increase in trading volume. PI’s trading volume has surpassed $3.6 billion, representing a 296% increase in the last 24 hours.
Meanwhile, the Pi Network token price surge comes as anticipation grows of a Binance listing.
Binance is currently conducting a community vote on whether to list Pi coin. The vote is expected to end on February 27, after which the exchange will announce its decision.
The majority of the respondents have reportedly voted in favor of the listing.
The Pi Network officially went live on February 20, which has renewed investor interest. Pi is currently listed on five popular centralized exchanges, and, therefore, a Binance listing could potentially drive further price action.
As of 5:59 a.m. EST, the price of PI was trading at $2.67, as technical indicators show a potential continuation of the bullish rally.
Pi Coin Price Prediction
The 1-hour chart for PI/USDT reveals a strong uptrend, with the PI price climbing from a previous low of around $0.10 to a current level of $2.6793. This represents a significant rally, suggesting a shift in market sentiment.
The Pi coin price has retraced slightly from this level but remains above the 38.2% Fibonacci level at $1.9012, indicating potential support.
According to the Fibonacci Retracement tool, the immediate resistance lies at $3.0127 (0% Fib level). Meanwhile, potential support levels at $1.9012 (38.2% Fib), $1.2146 (61.8% Fib), and $0.7258 (78.6% Fib).
PI is trading above the 50-day Simple Moving Average (SMA), which is an indication that the asset is currently on a bullish momentum.
The Relative Strength Index (RSI) is currently at 58.05, which is in the neutral zone but closer to overbought levels. It previously peaked above 67.25, indicating a possible overbought condition, leading to the current pullback.
If the Pi coin price holds above the 38.2% Fibonacci level ($1.90) and maintains support from the moving average, a retest of $3.01 is likely. A breakout above this level could push the price toward $3.80 or even $4.80 in the short term.
Conversely, if the price of PI fails to hold above the 50-day SMA and breaks below $1.90, it may test $1.21 (61.8% Fib level) as the next major support. A deeper correction could bring it towards $0.72 (78.6% Fib).
