Pi Coin surged 75% ahead of Pi Day! Will this upward trend continue?

Pi Coin is attracting renewed attention as the network prepares to reach two significant milestones. In the last 24 hours, the Token has surged approximately 5%, and over the past week, it has increased by about 24%. However, the more noteworthy story lies in the longer-term trend: In the last 30 days, Pi Coin has risen nearly 75%, outperforming Pi Day on March 14th – the annual community event of the Pi Network.

The upward trend continues as Pi Network's protocol upgrade date approaches on March 12th, bringing renewed attention to the ecosystem. The momentum was further boosted after PI broke out of a bullish continuation pattern earlier this week. With technical signals combined with expectations from upcoming events, investors are watching to see if this upward trend will continue.

Pi Day, the upgrade deadline, and the EMA signal trigger a breakout momentum for Pi.

Pi Coin's latest uptrend accelerated when the price broke out of a "flag-and-pole" pattern on March 10th, a continuation pattern that often appears when the market takes a short break before resuming the trend. The Token price then pushed up to the $0.245 area – currently the nearest resistance zone. On the final day of the "Protocol Upgrade," buyers were trying hard to push the price above this level.

Simultaneously, a bullish signal from the moving Medium is also forming. The 20-day Exponential Moving Average (EMA) – an indicator that tracks short-term momentum – is approaching a Golden Cross with the 100-day moving Medium . This is typically a sign that the upward momentum is continuing to strengthen.

A similar signal appeared earlier when the 20-day EMA crossed above the 50-day Medium , after which Pi Coin surged by another 22%. Therefore, many traders are closely watching this new crossover development.

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This breakout above resistance occurred just as the network was nearing its protocol upgrade deadline and coinciding with Pi Day , combining technical momentum and expectations from the event to fuel the recent price surge.

The inflow of Capital indicates that large sums of money are supporting the upward trend.

Cash flow indicators suggest that buyers remain actively behind the rally.

One important indicator is the CMF (Chaikin Money Flow) indicator – often used to measure the large flow of money into the market.

PI's CMF briefly stalled in mid-February but quickly recovered and maintained an upward trend. Compared to February levels, the CMF continued to reach new highs until the price breakout in March – indicating buying pressure accompanying the price increase.

Currently, this indicator is approaching the 0.22 region – a breakout above this level would confirm continued strong buying pressure. If the CMF rises above this mark, it would indicate that Capital inflows are still strong enough to support a new price surge for Pi Coin .

However, if the CMF reverses downwards, this would indicate weakening buying pressure and could lead to a slight price correction in the short term.

Smart money remains optimistic, but momentum is showing minor warning signs.

Another indicator of trading position suggests optimism among experienced traders.

The Smart Money Index – an indicator reflecting the actions of professional traders – has been steadily rising since March 3rd. Recently, the index surpassed its previous peak on March 7th, suggesting that savvy investors are still betting on a continued uptrend.

However, a momentum indicator gave a slightly cautious signal.

The Bull-Bear Power indicator – which measures the strength of buyers versus sellers based on price movement above/below the Medium – shows that upward momentum peaked around March 7th. Since then, the height of the upward bars has been decreasing even though the price continues to climb, meaning that the higher the price goes, the less strong the buying pressure is. This usually happens when buying pressure begins to slow down.

This doesn't necessarily mark the end of the bull run. However, it could be a sign that the market will temporarily pause or consolidate before continuing its upward trend. Nevertheless, a recent listing rumor could help mitigate downside risk.

Key Pi Coin price levels for the price surge.

The most important resistance zone currently lies between $0.245 and $0.247, where the PI has just experienced strong selling pressure.

If buyers can push the price above this zone, the next Pi Coin price levels that traders should watch could be near $0.261 and $0.279. The latter represents an increase of approximately 15% from the current price and also coincides with the 100% Fibonacci extension of the established trend.

If buying pressure remains strong, the forecast after a breakout is that the PI price will be pushed up to around $0.332.

Conversely, several support zones could determine whether the uptrend is sustained. The first support zone is around $0.227, followed by the level around $0.215.

If PI falls below $0.195, the previous breakout pattern will weaken and the risk of a deeper correction will increase. However, Pi Coin is currently still supported by strong upward momentum, large Capital inflows, and expectations surrounding the Pi Da event. Traders are closely watching to XEM if this rally can overcome the $0.245 resistance zone.