Why is Pi Network Faring Better Than Crypto Market Despite Recession Scare

Pi Network (PI) has fared better than most of its top-ranking rivals, rising by around 2.50% in the past week compared to the latter’s 5.20% dip.

PI traders seem to have ignored the broader risk-on market selloff that concerns about the US recession have led. Instead, they have been focusing on the Pi Network’s in-house developments and updates.

Let’s examine these factors in detail and discuss whether or not PI coin can sustain its rally in the near future.

‘Pi Day’ Offsets Recession Selloff Fears

First, the anticipation surrounding Pi Day on March 14—marking the project’s sixth anniversary—has fueled optimism. This annual event has historically been a platform for major announcements.

Reports indicate that the Pi Core Team may unveil new decentralized applications (DApps) within the ecosystem, alongside progress on the mainnet transition.

With a deadline for users to migrate mined tokens from the testnet to the mainnet set for 8:00 AM UTC on March 14, the sense of urgency and excitement is palpable, boosting investor confidence.

Looking forward, events that can push $Pi price higher:

1. Major exhanges anounce listing Pi. This may happen in matter of days. Strength of the Pi price now may likely due to buyers are front running exchange listing announcement. If a major exchange greenlight listing, history… pic.twitter.com/NUPH9D7aEP

— Kim H Wong (@Time_and_Trade) February 27, 2025

Second, speculation about a potential Binance listing is amplifying the rally. A listing on one of the world’s largest exchanges could enhance liquidity and visibility, increasing PI’s price.

Although unconfirmed, the mere possibility has triggered a 20%+ increase, with prices climbing past $1.70, according to recent data. This follows a recovery from a support level of $1.20, supported by a 54% spike in daily trading volume to $720 million.

PI Technicals Suggest Breakdown Next

Pi Network (PI) appears to form a head-and-shoulders pattern, signaling a potential bearish reversal. The pattern, identified on the one-hour chart, consists of three peaks: a higher central peak (head) flanked by two smaller peaks (shoulders), suggesting a loss of bullish momentum.

This structure’s neckline support stands near $1.60, and a decisive breakdown below this level could confirm the bearish outlook. Based on the pattern’s height, the projected downside target points toward the $1.45 region, a potential 10% correction from current levels.

Technical indicators reinforce this weakening trend. The Relative Strength Index (RSI) has retreated from overbought levels, hovering around 54.24, indicating declining buying pressure.

Moreover, the 50-period Exponential Moving Average (EMA) at $1.59 and the 200-period EMA at $1.65 serve as critical resistance levels. A failure to reclaim these moving averages could further embolden sellers.

Despite this bearish setup, bulls may attempt to defend the neckline, with any strong bounce above $1.60 potentially invalidating the pattern. A successful breakout above the right shoulder (~$1.72) could shift momentum back toward the bulls, targeting $1.80 and beyond.