Pi Network: Will It Dance Back to $0.20 or Trip Over Its Own Hype?

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In the dusty plains of the crypto market, where fortunes rise and fall like the sun over the Salinas Valley, Pi Network’s price shot up like a startled jackrabbit, bounding more than 50% to $0.20 last week. But, as is often the case with such sudden bursts of energy, it stumbled, shedding some of its gains and settling back into the familiar rhythm of the land. Now, the question lingers in the air like a stubborn fog: Can it reclaim that key psychological figure, now that it’s supposedly broken free from a multi-month trendline resistance? Or will it, like so many before it, get lost in its own dust?

  • Pi Network price briefly rallied to a four-week high of $0.20 last week, a moment of glory in its otherwise unremarkable journey.
  • Pi price action has confirmed a breakout from a multi-week descending trendline support on the daily chart, though whether this means anything more than a fleeting victory remains to be seen.

According to the scribes at crypto.news, Pi Network (PI) price rose nearly 54% to a four-week high of $0.20 on February 15, before profit-taking sent it scurrying back to $0.17 at the time of writing. Yet, it clings to a 20% gain over a seven-day period, like a farmer holding onto a scrap of land in a drought.

The rally, if it can be called that, came amid investor hype surrounding the project’s upcoming key upgrades. These upgrades, aimed at building the ecosystem towards a more decentralized network, are part of its transition from version 19 to 22 of the Stellar network. A noble goal, no doubt, but one wonders if it’s enough to sustain the momentum, or if it’s just another mirage in the desert of crypto promises.

Another catalyst, if you can call it that, is the hype surrounding the first anniversary of its mainnet launch on Feb. 20. Investors, ever the sentimental bunch, tend to celebrate such milestones by buying more tokens, which can often drive speculative rallies. But as any seasoned farmer knows, a single rain doesn’t make a harvest.

Against this backdrop, derivatives data show that the Pi Network token’s funding rate has shifted from negative to positive at press time. This reversal suggests that traders are rotating from bearish to bullish positioning, a shift as sudden as a summer storm. Whether this will uplift market sentiment or simply leave everyone drenched and disappointed remains to be seen.

And then there’s the community chatter, always a reliable source of both hope and hysteria. Rumors abound that the token could be listed on crypto exchange Kraken later this year. Getting listed on a major exchange like Kraken, with its millions of customers, could provide a significant boost to its price and overall liquidity. Or it could be just another pipe dream, like the one about the endless fields of gold in the next valley over.

Pi Network price analysis

On the daily chart, Pi Network price has confirmed a breakout of a descending trendline that had been acting as dynamic resistance since late November last year. Breaking above this long-standing pattern indicates that bulls are reclaiming market dominance, though whether they’ll hold onto it is another matter entirely. After all, even the strongest bull can be led to the slaughter.

Evidence of a burgeoning uptrend is visible across several oscillators, with the MACD lines turning upward to indicate a positive crossover in momentum. This is typically interpreted as a sign that the period of distribution is ending and accumulation has begun. But as any old-timer will tell you, signs can be deceiving, especially in a market as fickle as this one.

Validating this transition, the Aroon Up at 92.86% vastly outpaces the 28.5% Down reading, confirming that the bulls have successfully seized control of the price discovery process. For now. Because in the end, it’s not the bulls or the bears that decide the fate of a token, but the cold, hard reality of supply and demand.

Hence, Pi Network is well-positioned to see a potential rebound to its Feb. 15 high of $0.20. If bullish momentum persists, the rally could extend to its Nov. 28 high of $0.28, which lies 64% above the current price level. But then again, it could just as easily collapse under its own weight, leaving investors to pick through the wreckage like crows in a cornfield.

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2026-02-16 13:14