What triggered Pi Network latest price surge

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Pi Network surges 32.64% today

Highlights

Pi Network is requiring mainnet-bound users to enable two-factor authentication via trusted email to enhance account security for those post-KYC but pre-migration.
All Pi Network nodes must upgrade to version 19.6 by February 15 to strengthen system stability as mainnet deployment progresses.
PI trades at $0.201 above MA-20 and MA-50 but below MA-200, with the $0.1639 Ichimoku Kijun as critical support and the MA-50 as key resistance.

System upgrades and migration drive heightened security focus for mainnet rollout

Pi Network has required users completing mainnet migration to enable two-factor authentication by adding a trusted email address, specifically targeting those who have passed KYC but not yet moved to mainnet. Additionally, the project set a February 15 deadline for all nodes to upgrade to version 19.6 to strengthen system stability. These actions are aimed at enhancing account security and operational reliability as the mainnet rollout continues.

Anton Kharitonov, expert at Traders Union, sees Pi Network's price surge as technically fragile. He notes that despite outpacing the short- and medium-term moving averages, the asset remains capped under its MA-200 at $0.2543. Critical momentum indicators present conflicting signals, while overbought conditions and a bearish MACD increase downside risks. Kharitonov questions the depth of fundamental support, highlighting reliance on short-term buyers amid system upgrades and mainnet transition requirements. "The rally looks unsustainable with weak weekly momentum and considerable downside if $0.1639 fails," he concludes.

Viktoras Karapetjanc, expert at Traders Union, takes an optimistic macro-fundamental view. He notes that the security and infrastructure steps, such as mandatory 2FA and the node upgrade deadline, lay groundwork for further adoption. The recent price action signals growing demand and strong buyer interest, with the bullish structure remaining intact above key support. Karapetjanc emphasizes that market confidence is underpinned by operational progress and resilient inflows. "Further growth is expected as network upgrades drive institutional and retail participation," he asserts.

Mixed momentum signals as short-term strength clashes with resistance zones

The current price of PI at $0.201 is trading above the MA-20 ($0.1552) and MA-50 ($0.1829), but remains below the MA-200 ($0.2543). This suggests a strong short-term uptrend, a medium-term recovery attempt, and ongoing long-term resistance, with dynamic support now at the Ichimoku Kijun level ($0.1639) and MA-50 acting as the next resistance.

Momentum readings are mixed: the daily MACD signals a strong sell, while the ADX indicates firm trending conditions, though with a bearish daily signal. Oscillators highlight overbought conditions—Stoch RSI is at its upper extreme and both RSI and CCI lean bullish—though a divergence exists as MACD is bearish versus bullish BBP and RSI. The daily session shows a sharp 32.64% jump after a small opening gap, with price now near session highs and volatility elevated. The tone clearly favors buyers, with sustained strength toward intraday peaks, reinforcing the prevailing upward momentum despite conflicting medium-term signals.

Last time, analysts noted that Pi was trading above its short- and medium-term moving averages, signaling strong momentum despite remaining below the longer-term MA-200 and facing resistance. Technical indicators show buyers hold near-term dominance with elevated RSI and overbought readings, though mixed signals and volatility suggest a likelihood of sideways consolidation between key support and resistance levels.

Source of Data: PI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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