
Pi Network(PI) tokens rose slightly about 3% this week, after a cumulative increase of up to 25% last week, currently holding above $0.21. The overall technical structure of PI remains bullish, with the 100-day exponential moving average (EMA) providing ongoing support, and the approaching Pi Day (March 14) also generating event-driven demand expectations for the token.
The recent trend of Pi Network shows clear event-driven characteristics. Looking back to the first anniversary of the network’s launch on February 20, PI experienced a significant demand surge in the week prior, and the current trend ahead of Pi Day on March 14 is highly similar.
Although the CEX deposit volume of PI tokens technically suggests profit-taking pressure, the concentrated release of demand has not caused a notable pullback—Monday’s 3% increase and the holding above $0.21 indicate that market buying can absorb short-term selling pressure. Analysts believe that as long as sentiment remains positive ahead of Pi Day, PI’s upward momentum this week could continue.
(Source: Trading View)
From a technical perspective, the bullish structure of Pi Network remains consistent across major indicators:
Current Price: around $0.2200 (recovered after a 10% correction on Sunday)
100-day EMA: $0.1973 — core support, maintaining above this level is a bullish prerequisite
Short-term Breakout Target: surpassing last Friday’s high of $0.2396 to confirm upward momentum
Medium-term Target: 200-day EMA at $0.2854, representing a potential extension of the current rebound
MACD: has risen above the signal line, with increasing positive histogram, indicating strengthening bullish momentum
RSI: approximately 64, approaching overbought levels, with ongoing buying pressure
$0.2000: psychological round number, first line of defense
$0.1973: 100-day EMA, short-term trend support
$0.1813: 50-day EMA, deeper technical support
Pi Day, celebrated annually on March 14 (3.14 ≈ π), is an important cultural event for the Pi Network community, often accompanied by ecosystem activities, announcements, or user growth milestones. Similar to the first anniversary of network launch, Pi Day tends to boost user and investor attention in the lead-up, driving short-term demand and trading activity, resulting in event-driven short-term rallies.
An increase in CEX deposits (tokens transferred into exchanges) is often interpreted as potential selling pressure, since tokens entering exchanges are usually for sale. However, during an event-driven rally, such deposits may also reflect active participation by traders rather than purely bearish intent. Combined with PI holding above the 100-day EMA and MACD remaining bullish, the current technical structure suggests that selling pressure has not yet dominated the market.
PI needs to first break above and sustain above last Friday’s high of $0.2396 to confirm ongoing short-term upward momentum. Then, with volume support, it must continue climbing to reach the 200-day EMA at $0.2854. During this process, the current consolidation zone around $0.2200 must turn into effective support rather than resistance.