Pi Network Price Forecast: PI maintains bullish momentum above $0.20

• Pi Network is up nearly 3% on Monday, holding above $0.2100 after a 25% rally last week.
• PiScan data shows a short-term profit-booking phase, with exchanges recording over 3 million PI token deposits in 24 hours.
• The technical outlook for PI remains broadly bullish as it holds above the 100-day EMA.

Pi Network (PI) edges higher by 3% at press time on Monday, holding ground above $0.2100 after last week’s 25% rally. Data shows that retail demand is shifting toward profit-taking, as evidenced by massive deposits of over 3 million PI tokens over the last 24 hours. The technical outlook for PI remains bullish, with demand expected to sustain ahead of Pi Day on March 14.

Could retail demand sustain PI above $0.20 ahead of Pi Day?

Retail investors are moving forward to book short-term profits after last week’s recovery run. PiScan data shows 3.34 million PI tokens deposited on supporting Centralized Exchanges (CEXs), which typically reflects reduced confidence in the rally and often signals a local top.

However, the demand spike for PI aligns with the upcoming Pi Day on March 14, repeating a behavior seen a week before its Open Network anniversary, which was on February 20. Considering the demand holds till Pi Day, the PI token could extend its recovery this week.

Technical outlook: Will PI Network rally hit the 200-day EMA?

Pi Network is inching closer to $0.2200 at press time on Monday, recovering after Sunday’s 10% dip, which aligned with short-term profit-taking by mainnet users. Still, the near-term tone for PI remains bullish as it sustains above the 100-day Exponential Moving Average (EMA) at $0.1973.

To extend recovery to its 200-day EMA at $0.2854, PI should exceed its Friday high at $0.2396.

The technical indicators on the daily chart suggest that the trend momentum is reinforcing an upside bias. The Moving Average Convergence Divergence (MACD) rises above its signal line, while the Relative Strength Index (RSI) at 64 hovers close to the overbought threshold, indicating continued bullish pressure.

On the downside, the immediate support cluster is the $0.2000 psychological level and the 100-day EMA at $0.1973, followed by the 50-day EMA at $0.1813.

(The technical analysis of this story was written with the help of an AI tool.)