As the Pi2Day celebration approaches, interest in Pi cryptocurrency is rising. Expectations of updates and strong technical indicators are shaping market trends.
Expectations from Pi2Day
The Pi2Day event is said to trigger rising interest in the project. The community is anticipating announcements related to enhanced KYC processes, mainnet development, and AI integration initiatives, according to Pi Network News.
Technical Indicators and Growth Potential
Pi recently broke above $0.5868, the upper Bollinger Band on the 4-hour chart, registering a Relative Strength Index (RSI) of 80.38, indicating overbought conditions. Price action is now testing the $0.65 Fibonacci extension level, derived from June’s prior swing move. Traders are closely monitoring the 50-day EMA at $0.66 for confirmation of a broader trend reversal and continuation to higher targets.
Support from Institutional Investors
On-chain data shows a 42% increase in non-exchange wallets since Q2, reflecting growing retail interest. Meanwhile, institutional participation has surfaced, with Banxa acquiring 10 million PI tokens following KYC clearance, highlighting increasing confidence in Pi Network’s infrastructure.
Accumulated data and expectations for updates create a positive backdrop for Pi cryptocurrency. With Pi2Day approaching, traders are positioned for potential upside, considering the current technical and institutional signals.
