Pi Network (PI) briefly climbed to $0.20 on Feb. 15, marking a four-week high, before giving back part of the move and trading near $0.17 at the time referenced in the source. Even with that pullback, the token was still up about 20% over seven days.
The rally itself was sharp. PI had surged nearly 54% before profit-taking cut into the advance. Attention has centered on upcoming upgrades planned for the next few months, especially changes affecting mainnet node operators. The project is moving from version 19 to version 22 of the Stellar network, with the stated goal of pushing its ecosystem toward greater decentralization while improving performance, security, and scalability.
Mainnet anniversary and upgrade narrative lift sentiment
Traders have also focused on Feb. 20, the first anniversary of Pi Network’s mainnet launch. Milestone dates often attract speculative buying, and that pattern appears to have fed into PI’s recent move. The anniversary theme has become one of the main short-term narratives around the token.
Derivatives data added another signal. According to the source, PI’s funding rate flipped from negative to positive, pointing to a shift in trader positioning from bearish to bullish. That change does not settle the trend on its own, but it does show improving sentiment in the leveraged market.
There is also heavy community discussion around a possible Kraken listing later this year. The material does not cite an official confirmation or timeline. Even so, the listing speculation has become part of the current market story around PI.
Daily chart breakout puts $0.20 back in focus
On the daily chart, PI has confirmed a breakout above a descending trendline that had acted as dynamic resistance since late November. That break changed the short-term technical picture. Price is no longer trading under the same ceiling, and bulls have regained control of momentum for now.
Other indicators in the source support that view. The MACD lines have turned upward, indicating a positive momentum crossover. The Aroon readings also lean strongly bullish, with Aroon Up at 92.86% versus Aroon Down at 28.5%. Those figures suggest buyers are driving the current phase of price action.
In the near term, the key level remains $0.20, the high reached on Feb. 15. If momentum holds, the source says PI could extend toward $0.28, the Nov. 28 high, which stands 64% above the current price level cited in the article. For now, though, the token has already pulled back from its peak, so the next test is whether the breakout can produce another push through that psychological barrier.