Top Crypto Gainers: Pi Network, Kaia, Virtual Protocol extend midweek rally

• Pi Network is up over 2% on Wednesday, after a 5% jump on the previous day.
• Kaia rebounds from a crucial support level, extending gains for the third consecutive day and testing a key resistance trendline.
• Virtual Protocol hovers above the 50-day EMA after a 6% rise on Tuesday.

Pi Network (PI), Kaia (KAIA), and Virtuals Protocol (VIRTUAL) extend their rally this week for the third consecutive day as Bitcoin (BTC) struggles to hold ground above $70,000. The technical outlook for PI, KAIA, and VIRTUAL focuses on immediate resistance levels as buying pressure resumes. 

Bitcoin recovery stagnates near $70,000

Bitcoin struggles to break out of the ongoing consolidation range, while a descending trendline connecting the highs of January 14 and 28 adds to the downside pressure. The mixed signals coming from the US-Iran war keep the global financial and cryptocurrency markets on their toes. 

Stabilizing oil prices and resolving conflicts in the Middle East could almost certainly boost demand for high-risk assets such as Bitcoin. The West Texas Intermediate (WTI) crude oil price is down to $82 during the early Asian session, from a peak of $112 on Monday, reflecting a cooldown amid the International Energy Agency (IEA) proposing its largest-ever crude oil reserve release. 

A decisive close above the February 5 high at $73,165 would confirm the breakout of the descending trendline and consolidation range to the upside. A bullish exit could extend the BTC rally toward $80,000.

On the flip side, a bearish close to the day would confirm the reversal from the overhead trendline, risking a pullback to the February 5 low at $62,345.

Pi Network rally eyes the 200-day EMA

Pi Network is up 2% at press time on Wednesday, extending gains to over 10% so far this week with three consecutive days of recovery. PI extends its breakout from a long-standing descending trendline resistance above the 100-day Exponential Moving Average (EMA) at $0.1984. The upward-sloping 50- and 100-day EMAs skew the near-term bias bullish despite the falling 200-day EMA at $0.2843.

Looking up, the immediate resistance for PI remains at Saturday's high at $0.2396, with a break opening the way toward the 200-day EMA at $0.2843.

The technical indicators on the daily chart suggest an increase in the upside momentum. The Moving Average Convergence Divergence (MACD) line sits above its signal line in positive territory with a modestly positive histogram, while the Relative Strength Index (RSI) at 69 shows strong but extended bullish momentum.

However, a reversal from $0.2396 could retest the 100-day EMA at $0.1984, near the broken trendline.

Kaia's rebound approaches a key resistance trendline

Kaia shows a steady recovery from the $0.05000 psychological support level, testing a short-term descending trendline near its 50-day EMA at $0.05745. Near-term bias stays cautiously bullish as the descending resistance trendline caps the roughly 12% rebound so far this week.  

KAIA holds below the 50-, 100-, and 200-day EMAs, keeping the broader trend under bearish pressure despite recent stabilization. A daily close above the 50-day EMA would expose the 100-day EMA at $0.06599. 

The MACD has turned marginally above its signal line near the zero line, hinting at tentative recovery momentum rather than a confirmed reversal. The RSI at 51 reinforces this stance, reflecting balanced but still fragile demand after the bounce from $0.0500.

On the downside, immediate support aligns near the $0.05000 psychological support level.

Virtuals Protocol recovery gains strength

Similar to Kaia, Virtuals Protocol recovery approaches its 50-day EMA at $0.7042, which acts as a short-term barrier. At the time of writing, VIRTUAL extends gains on Wednesday for the third consecutive day after a 6% rise the previous day.

A daily close above $0.4042 could target the 100-day EMA at $0.7852, while the broader trend remains corrective due to the descending 200-day EMA.

The MACD hovers marginally above its signal and near the zero line, while the histogram has turned slightly positive, suggesting modest upside pressure. The RSI around 53 supports a neutral-to-positive tone rather than an extended rally.

On the downside, immediate support is seen at the rising trendline now crossing the $0.6600 area, with a break there exposing the prior reaction low at $0.6315 from December 18.

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