Pi Network price has jumped by double digits in the past month, and this recovery may continue this week now that Kraken has confirmed the potential listing. It was trading at $0.2310 on Thursday, up by over 78% from its all-time low.
Kraken to list Pi Network on March 13
One of the most important catalysts for the Pi Network price is that Kraken, one of the biggest crypto companies in the world, has confirmed that it will list the token on Friday this week. This is an important period as it comes ahead of Pi Day, which happens on Saturday.
In an X post, the company said that trading will start on Friday, March 13. This will be a major milestone as the token has struggled to gain any major exchange listings since its mainnet launch in February last year.
The listing is also important as the token has largely been unavailable in the United States. It is currently listed in some major companies like OKX, MEXC, and Gate, which have a smaller market share in the United States.
Additionally, the listing may move more crypto exchanges to list it soon. The most notable ones are companies like Coinbase, Binance, HTX, and Upbit. These listings will make it available to a wider pool of traders, including those from South Korea and China.
READ MORE: PI defies market trend, surges another 6%: Check forecast
The upcoming Kraken listing comes as the Pi Network price is gaining momentum and beating Bitcoin, Ethereum, and XRP. This is happening as the ongoing network upgrade continues and as the developers have shared future plans.
Some of the top priorities in the future are a feature that will make it possible for people and developers to launch tokens. It will also launch a decentralized exchange (DEX) and automated market maker (AMM) feature soon.
At the same time, the developers are working on accelerating the pace of the KYC process. After that, using the knowledge they have gathered, they hope to launch a KYC-as-a-Service solution that will rival Worldcoin and Humanity Protocol.
Meanwhile, Pi Network price is doing well as traders anticipate the upcoming Pi Day event, where the developers will likely share more details about the priorities for the year.
Pi Network Coin price technical analysis
Pi Coin price chart | Source: TradingView
The daily timeframe chart shows that the Pi Network price has done well in the past few weeks, a trend that may continue in the coming days.
It has already turned the Supertrend indicator from red to green, a rare situation that often leads to more upside.
The coin has jumped above the 50-day and 100-day Exponential Moving Averages (EMA), further confirming the bullish outlook.
It has also formed a bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle pattern. It moved above this triangle this week, meaning that it may keep going upwards in the foreseeable future.
Therefore, the most likely Pi Network price prediction is bullish, with the next key target being the resistance at $0.30, its highest point in October last year. A move above that level will raise the possibility of the coin rising to $0.50.
The risk, however, is that, after the upcoming rally, the coin may retreat as investors sell the news.
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