Pi Network rebounds 3%, with the token listing on Kraken boosting buying confidence

Pi Network (PI) rose 3% on Friday, showing initial signs of recovery after a 10% plunge earlier this week, indicating that the early profit-taking phase is cooling down. Meanwhile, PiScan confirms that Kraken and LBank have been added to the official centralized exchange (CEX) list supporting PI trading, further expanding PI’s liquidity landscape.

Interpreting the Significance of Kraken Joining the CEX List and On-Chain Data Signals

Adding Kraken and LBank to the official CEX list is a key node in expanding liquidity within the Pi Network ecosystem. Kraken is one of the most reputable and high-traffic cryptocurrency exchanges globally, and listing PI trading pairs there signifies important recognition for institutional and high-net-worth users.

On-chain data provides a more detailed market sentiment indicator than price alone:

Net inflow into CEX ( +165,044 PI ): A positive value indicates more PI is flowing into exchanges rather than being withdrawn. During previous profit-taking peaks, capital flow was typically net outflow (more PI withdrawn from exchanges to private wallets), reflecting long-term holding intentions. The recent net inflow turning positive may suggest some holders are still selling, but overall selling pressure has significantly slowed compared to earlier phases.

Signal interpretation: If net inflow later turns negative (withdrawals exceed deposits), it is generally seen as a stronger bullish signal, indicating investors prefer holding rather than selling on the market.

Technical Analysis: Key Levels and Multi-Indicator Insights

(Source: Trading View)

PI’s current technical structure shows a complex pattern: “short-term neutral leaning bearish, but with potential for rebound.” Analysts highlight the following key technical observations:

Bearish Factors (Resistance to Break Through)

• PI is trading below the 50-day exponential moving average (EMA) at $0.1885, which acts as a dynamic resistance.
• Also below the 200-day moving average, reinforcing a medium- to long-term bearish trend.
• MACD line is below the signal line and under zero, with a widening negative histogram, indicating ongoing downward momentum.
• RSI is at 47, below the midpoint of 50, suggesting that the earlier overbought condition has been digested and bullish momentum has yet to fully recover.

Technical Target Levels

Key Resistance: $0.2000 (psychological round number). Breaking this level could lead to further resistance at $0.2396 (the seller congestion zone from March 7).

Key Support: $0.1736 (recent low where buyers stepped in this week). If this support fails, a more bearish outlook is reinforced, with the next support at $0.1556 (February 23 low).

Frequently Asked Questions

Q: What is the actual impact of Kraken joining the official Pi Network CEX list on PI liquidity?
A: Kraken’s inclusion means PI holders now have access to a more reputable, compliant trading platform. This is significant for institutional investors and high-net-worth individuals, as they prioritize regulated venues. Increased listing on mainstream exchanges generally helps narrow bid-ask spreads and reduces market impact costs for large trades.

Q: Does the positive net inflow into CEX indicate that profit-taking on PI has ended?
A: The shift to net inflow is an early sign of slowing profit-taking, but it does not confirm that selling has completely stopped. The inflow of 165,044 PI is moderate and may reflect a temporary slowdown rather than a complete cessation of sell pressure. Technical analysts typically look for several consecutive days of net outflows (funds moving from exchanges to private wallets) to confirm a stronger bullish bottom.

Q: Under the current technical setup, what conditions are needed for PI to break above $0.20?
A: Breaking $0.20 requires several conditions to improve simultaneously: RSI must break above and stay above 50; MACD should turn positive with increasing bullish momentum; and PI needs to recover and hold above the 50-day moving average ($0.1885) as support. If the market environment remains stable without further deterioration, closing above $0.19 for two to three consecutive days would create more favorable technical conditions to challenge the $0.20 psychological barrier.