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This surge coincides with a remarkable spike in trading volume, which has surpassed $3 billion. The price of PI briefly reached $2.99 before settling at $2.95, defying broader market trends as Bitcoin and other major cryptocurrencies faced downward pressure.

The sharp rally has been attributed to several factors, including speculation around a potential Binance listing and increasing investor interest in the network’s development. However, technical indicators suggest a highly volatile market, with analysts split on whether PI will sustain its momentum or face a correction.

Pi Network’s Directional Movement Index (DMI) highlights a strong uptrend, with the Average Directional Index (ADX) climbing to 57.7 from 12.3 in just one day. The Positive Directional indicator (+DI) has surged to 40.9, while the Negative Directional Indicator (-DI) has dropped to 1.1, confirming the bullish momentum.

Pi Networks’s short-term chart (15 minutes) suggests potential pullbacks despite the overall bullish sentiment. Source: ArikMat on TradingView

Despite this, the Bollinger Bands Trend (BBTrend) indicator has turned negative, falling from 51.2 to -11. That indicates the rally could be overextended and that a price correction is more likely to happen. If PI does reverse, important levels to check for support are $1.70, $1.42, and $0.79.

One of the primary catalysts behind PI’s price surge is speculation surrounding a potential listing on Binance. A recent community poll on the exchange showed that 86% of participants favored listing the token. While Binance has yet to confirm an official decision, a successful listing could further fuel PI’s bullish momentum.

The majority of Binance users—86.6%—support listing PI, and Binance may soon appear on Pi Network’s KYB list. Source: Moon Jeff via X

Previously, listings on the exchange have played a very significant role in new coins with price spikes as a result of ease of accessibility and liquidity. The general concurrence of experts is that with PI being listed on Binance, the price would rush for the $4 level, while even some projections of bulls reflect an increase up to $5.

With PI breaking new all-time highs, the market is closely watching whether the token can maintain its upward trajectory. Technical indicators suggest both bullish and bearish possibilities—if buying pressure remains strong, PI could challenge the $4 resistance level and push toward $5. However, if the current rally proves unsustainable, a retracement to lower support levels is possible.

A bullish breakout above the $3.14 resistance could propel the Pi Network price to $6.28. Source: SL-Trades on TradingView

Despite the recent surge, PI Network remains controversial. Some industry participants, including Bybit CEO Ben Zhou, have labeled the project a scam over issues of its unverified circulating supply and lack of transparency in the project. Leading crypto data sites like CoinMarketCap and CoinGecko have yet to list PI in their official rankings owing to the doubts.

Pi Network price returned to $2.56 after testing the $3 resistance at press time. Source: TradingView

The Pi Network group has dismissed the allegations, bragging of its legitimacy and highlighting its six-year existence and over 60 million users. They argue that delays in the Mainnet launch were tactical in a bid to have an ecosystem that is well-matured and has solid security measures in place before rolling it out.

For now, PI’s future remains uncertain, but one thing is clear: the market’s attention is firmly on this rapidly rising cryptocurrency. Whether it continues to climb or experiences a sharp correction, PI Network has undeniably positioned itself as one of the most talked-about tokens in the crypto space today.

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