Pi Coin (Pi Network, PI) is staging a standout rally despite the broader market downturn, driven by the temporary suspension of mainnet migration and psychological momentum ahead of its first anniversary since launch.
According to cryptocurrency media outlet CoinGape on February 18 (local time), the price of Pi Coin has broken through a key resistance level, posting a weekly gain of more than 8%. Analysts attribute the rise primarily to a reduction in exchange-bound supply following the temporary halt of token migration from the testnet to the mainnet. Data from Pi Scan shows that migration activity has been suspended since last Friday, limiting liquidity in the market and strengthening downside support for the price.
From a technical perspective, Pi Coin’s upward momentum is evident. The token recently surpassed the upper level of the 50-day Moving Average Convergence Divergence (MACD) at $0.1773, entering a short-term buyer-dominant phase. It is currently trading above $0.19 and is targeting the $0.1919 resistance level, which previously served as a strong support zone. The Relative Strength Index (RSI) has also rebounded from oversold territory to around 63, suggesting ample room for further gains.
This rally is particularly noteworthy as it comes while major assets such as Bitcoin (BTC) and Ethereum (ETH) are trending downward. Since ushering in the open mainnet era on February 20, 2025, Pi Network has seen heightened community anticipation ahead of its upcoming first anniversary. CoinGape reported that “the possibility of listing on centralized exchanges (CEX) and ecosystem upgrades are stimulating demand, enabling Pi Coin to withstand broader market selling pressure.”
However, analysts urge caution from a long-term perspective. Although Pi Coin is currently trading above its 20-day and 50-day exponential moving averages (EMA), it remains below the 100-day and 200-day EMAs, making it premature to declare a full exit from the long-term downtrend. Experts suggest that a confirmed close above $0.1919 is necessary to pave the way for a sustained bullish rally toward $0.2177 and potentially the $0.30 level.
Ultimately, Pi Coin’s next move will depend on the resumption of mainnet migration and the tangible outcomes of its anniversary events. With oversupply concerns temporarily eased, the expansion of real-world utility and the completion of node upgrades are expected to be key variables determining price sustainability. Investors worldwide are watching closely to see whether Pi Network, backed by a strong community-driven fan base, can leverage this rebound to solidify its status as an institutional-grade asset.
*Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses incurred based on this information. The content should be interpreted for informational purposes only.*  <저작권자 ⓒ 코인리더스 무단전재 및 재배포 금지>
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