The Pi Network (PI) has shown a significant rebound from a key support level in recent days, having increased by more than 3% over the last 24 hours.
As selling pressure begins to ease, some traders are now viewing this rebound as a sign of the start of the next upward move.
Popular cryptocurrency trader Xia, followed by over 135K on X, noted that PI has just surpassed the $0.63 barrier with significant volume, indicating bullish momentum accumulation.
The pseudonymous user further pointed out that, given 1.8 million active participants at the last Pi Fest, indicating strong community support, people's interest in Pi is robust.
Similarly, crypto researcher Dr. Altcoin believes that Pi could recover some of the lost ground during the current sell-off frenzy if more exchanges list the coin.
Major cryptocurrency exchanges like Binance have so far postponed the listing of PI in response to compliance and verification issues.
The Pi Network has officially requested Binance to substitute the formal Know Your Business (KYB) verification for the regular Know Your Customer (KYC) checks.
However, according to Dr. Altcoin, increasing demand could finally push major exchanges to comply in order to capture the growing trading volumes of PI.
Higher lows are continuously developing in the price action, indicating positive pressure building beneath the surface.
Reflecting increasing strength without entering overbought territory, the RSI is progressing and currently stands at 54.5.
The MACD momentum has also moved somewhat positively; the histogram bars have turned green, indicating a probable bullish crossover ahead.
With over 10% potential in the short term, a break above $0.6375 could trigger a rapid advance above $0.72.
With long-term goals as high as $10, the optimistic framework has some analysts wondering if PI could be gearing up for a much more significant move.
A new AI agent token called MIND from Pepe (MIND) has quietly gained popularity and attracted millions in its presale while PI is still stabilizing.