▲ Pi (PI) / ChatGPT-generated image

Pi Network (PI) is maintaining its bullish momentum ahead of Pi Day on March 14, defending the $0.21 level.

According to a report by FXStreet on March 9 (local time), Pi Network’s price rose about 3% during Monday’s intraday session, trading above $0.21. After posting a sharp rally of nearly 25% last week, Pi Network has shown solid support despite short-term profit-taking. Data from PiScan indicates that approximately 3.34 million PI were deposited to major centralized exchanges (CEX) over the past 24 hours, suggesting that some investors have begun locking in gains.

Technical indicators continue to flash positive signals. Pi Network is currently holding steady above the 100-day Exponential Moving Average (EMA) formed at $0.1973. Market analysts suggest that if the price breaks above last Friday’s high of $0.2396, it could extend its rally toward the 200-day EMA near $0.2854. Trend momentum indicators on the daily chart are also reinforcing a bullish bias.

Anticipation surrounding the upcoming Pi Day on March 14 is serving as a key driver of demand. Analysts note a strong possibility that the price pattern seen ahead of the Open Network anniversary on February 20 could repeat itself. If current buying pressure is sustained through Pi Day, Pi Network may attempt further price recovery within the week. The community is closely watching for additional announcements related to the mainnet transition and ecosystem expansion.

This rebound is particularly notable as it follows a 10% short-term correction recorded last Sunday, with prices quickly recovering. Although profit-taking pressure among users is increasing, the psychologically important $0.20 level has been firmly defended, effectively offsetting downward pressure. Changes in exchange balances and new updates related to Pi Day will be key variables determining Pi Network’s short-term direction.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The publisher is not responsible for any losses incurred based on this information.

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