The crypto ecosystem has a new protagonist on investors’ radars. PI has awakened from a long bearish slumber, posting an impressive 16.94% increase in the last 24 hours to trade at $0.264. This move is no coincidence: veteran U.S. exchange Kraken confirmed that PI trading will begin this March 13, 2026, news that injected a massive dose of adrenaline and regulatory credibility into the project.
Technical Analysis: From Agony to Bullish Climax
The behavior of PI on the daily (1D) chart reveals a fascinating technical metamorphosis. After a seemingly endless narrow bearish channel phase, the price executed a textbook reversal.
Bars 1 & 2 (The Floor): A Double Bottom was established where sellers lost the momentum to break previous lows, marking the end of the bleeding.
Bars 3 & 4 (The Awakening): The price crossed above the moving average (EMA 20) after 27 days of darkness, shifting the narrative from “sell the rips” to “buy the dips.”
Bars 8 to 10 (Confirmation): After a period of congestion or “barbed wire,” Bar 8 triggered a buy signal (High 2). Subsequently, Bar 10 broke the $0.2070 resistance with total conviction.
Bars 11 & 12 (Bear Failure): Sellers attempted to regain control but failed. This “reversal failure” trapped the bears and served as fuel for the current liftoff.
Bar 14 (The Climax): The current session shows a violent expansion, breaking the upper channel and seeking key psychological levels.
Kraken: The Catalyst Behind the Rally
Although PI carries a heavy burden with 81% losses over the past year, the last month tells a story of redemption with cumulative gains of 88%. Kraken’s entry on March 13 not only provides liquidity but acts as a seal of validation for a community that waited years for access to top-tier regulated platforms.
Scenarios: Where is the price headed?
Price action analysis suggests that if the current inertia holds, the next target is the $0.2850 to $0.3500 range. However, experts urge caution: Bar 14 represents a “bullish climax” or a parabolic move that often precedes profit-taking. A healthy pullback toward $0.23 (EMA 20) should not be ruled out to consolidate the base before a new assault on all-time highs.
Disclaimer: This article is for informational purposes and does not constitute financial advice. Investing in crypto assets carries a high risk of capital loss.
Communications Professional. Crypto Enthusiast. Economic Journalist. Bitcoiner & Altcoiner.