Symmetrical Triangle Breakout Signals Major Upside Potential for Pi Coin

Pi Network’s native cryptocurrency, PI, has formed a symmetrical triangle on multiple timeframes, signaling a potential breakout. Here are the latest Pi price predictions.

Pi Network was trading at around $2.84 at press time. Source: TradingView

One of the prime drivers of this rally appears to be speculation surrounding a potential Binance listing. The exchange with over 200 million users is currently polling on whether to list PI and has garnered almost unanimous support from the community. A Binance listing would arguably contribute to liquidity and market exposure, generating pressure on other large exchanges like Coinbase and Kraken to list as well.

Additionally, the upcoming Know Your Customer (KYC) grace period deadline of February 28 has fueled demand. From and subsequent to this date, only PI mined within the last six months will be eligible for migration onto the mainnet, limiting supply and potentially pushing further price appreciation.

Will Pi Coin Reclaim the $5 Level?

As PI continues to gain traction, analysts are eyeing a return to the $2 mark. The coin had previously rallied to $2 before experiencing a sharp sell-off to drop as low as $0.61. It has since bounced back hard, and technical forecasts point to further upside.

In spite of doubts, PI is still traded on major exchanges such as OKX, HTX, Bitget, and Gate.io, which supports investors’ confidence. If momentum persists and a Binance listing occurs, PI can experience more upside, possibly beyond its prior highs.

Final Thoughts

A confirmed breakout from the symmetrical triangle could see PI rally past $2..96, with the possibility of testing the $2 mark in the near future. However, failure to hold above $2.56 may signal downside risk, potentially leading to another correction.

As PI continues to capture market interest, investors will be closely watching for key technical signals and exchange listing updates that could drive the next major price move.