PI Surges 40% As Mainnet Migration Halts And Supply Pressure Drops

• Pi Network rallies 40% from $0.1326 lows as mainnet migration halts since Friday, cutting supply to exchanges.
• Price reclaims all major EMAs for first time since January with Supertrend flipping bullish at $0.1719.
• Inverse head and shoulders pattern projects $0.21-$0.22 target as RSI approaches overbought at 68.65.

Pi Network price today trades near $0.1928, up 0.52% in the past 4 hours as the token extends its sharp recovery from the $0.1326 February low. The move comes as PiScan data shows mainnet migration has been inactive since Friday, eliminating one of the primary sources of selling pressure on centralized exchanges.

PI Reclaims All Major EMAs For First Time Since January

On the 4-hour chart, Pi Network has reclaimed all major moving averages for the first time since late January. The 20-day EMA sits at $0.1771, the 50-day at $0.1659, the 100-day at $0.1628, and the 200-day at $0.1703. Price now trades above all four EMAs, a decisive shift in structure after weeks of trading below these levels.

The chart shows:

• Supertrend flipped bullish at $0.1719, confirming momentum shift
• Price reclaiming all major EMAs after sustained downtrend
• Clean breakout above descending trendline from January highs
• $0.1385 support now acting as base if correction occurs

Pi Network dropped from above $0.21 in mid-January to $0.1326 by February 11, marking a 37% correction. The recent rally represents a 45% recovery from those lows and the first time since the January peak that PI has broken above the full EMA stack.

A close above $0.20 would place PI back at levels not seen since early February and confirm the trend reversal is gaining momentum. The Supertrend flip to $0.1719 signals that buyers have taken control of the daily structure for the first time in over a month.

Mainnet Migration Halt Cuts Supply To Exchanges

According to PiScan data, Pi Network’s mainnet migration, which allows users to deposit PI tokens from testnet after completing KYC verification, has been inactive since Friday. The last daily migration recorded was 259,397 PI tokens, but no new tokens have entered the mainnet since that date.

The halt in migration reduces pressure on PI token supply for centralized exchanges, as testnet users can no longer move tokens to tradable wallets. This supply shock has supported the recent demand spike and aligns directly with the short-term recovery in price. When migration is active, newly unlocked tokens typically flow to exchanges and create selling pressure from users who held through KYC completion.

The timing of the migration halt coincides with the 40% rally from the $0.1326 low to the current $0.1928 level. Without fresh supply entering exchanges, buyers have been able to push price higher without absorbing constant selling from newly migrated tokens.

Inverse Head And Shoulders Pattern Forms On Lower Timeframes

The 30-minute chart shows PI forming an inverse head and shoulders pattern, a classic reversal structure following the February lows. The left shoulder formed around $0.17, the head at $0.1326, and the right shoulder near $0.17. The breakout above the neckline at $0.1850 triggered the acceleration toward $0.1928.

RSI sits at 68.65, approaching overbought territory but still with room to run before hitting extreme levels. MACD remains positive with both lines trending upward and the histogram printing green bars, confirming the bullish momentum.

The structure shows:

• Inverse head and shoulders pattern with neckline break at $0.1850
• Higher highs and higher lows forming since February 12
• Strong volume accompanying the breakout

The inverse head and shoulders pattern projects an upside target measured by adding the distance from the head to the neckline to the breakout point. In this case, the pattern suggests PI could target $0.21 to $0.22 if the momentum continues.

A pullback to retest the $0.1850 neckline as support would be healthy and provide confirmation that the breakout is sustainable. A breakdown below $0.1850 would invalidate the pattern and send price back to test the $0.1771 support at the 20-day EMA.

Outlook: Will Pi Network Go Up?

The next move depends on whether PI can hold above the Supertrend at $0.1719 and break above $0.20 resistance.

• Bullish case: A sustained move above $0.20 with continued migration inactivity would place $0.21 and eventually $0.22 in range, confirming the inverse head and shoulders pattern target. Holding above all major EMAs signals trend reversal.
• Bearish case: If migration resumes with heavy volume, the resulting supply pressure could push price back below $0.1850 and retest $0.1771 support. Losing $0.1719 would flip the Supertrend bearish and invalidate the recovery.