The past several days have been quite successful for Pi Network’s PI, whose price spiked to a three-month high.While some market observers believe the asset could post additional gains in the short term, certain indicators suggest it might be time for a sharp pullback.<h2 id="back-to-red-territory">Back to Red Territory?</h2>PI is the best-performing cryptocurrency (at least in the top 100) over the past week, with its valuation rising 30% during the period. A few days ago, it surpassed $0.23 for the first time since December last year, while it currently trades at around $0.21 (per CoinGecko’s data).Its rally follows the latest updates announced by the Core Team.&nbsp;Recently, the protocol v19.9 migration was successfully&nbsp;<a href="https://cryptopotato.com/pi-networks-pi-price-jumps-8-5-after-latest-updates-details/" rel="noopener noreferrer nofollow">completed,</a> while the next version, v20.2, is scheduled for release around March 12 (just two days before Pi Day 2026). Another catalyst might have been the newly revealed case study <a href="https://cryptopotato.com/pi-networks-pi-price-soars-16-again-as-team-reveals-distributed-ai-computing-plans/" rel="noopener noreferrer nofollow">showing</a> that Pi Nodes could be used for distributed AI computing and model training.However, two important factors suggest that the ascent may soon be replaced by a correction. Data shows that more than 6.2 million PI have been transferred to exchanges in the past 24 hours alone, thus bringing the total figure to almost 450 million. The majority of the coins (53%) are stored on Gate.io, whereas Bitget ranks second with approximately 148.8 million. This development doesn’t guarantee a short-term price decline but is often considered a pre-sale step.<figure id="attachment_1430849" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/03/PI-Exchange-Supply-2.png" rel="noopener noreferrer nofollow"><img class="wp-image-1430849 size-full" src="https://cryptopotato.com/wp-content/uploads/2026/03/PI-Exchange-Supply-2.png" alt="PI Exchange Supply" width="1688" height="622"></a><figcaption id="caption-attachment-1430849" class="wp-caption-text"> PI Exchange Supply, Source: piscan.io </figcaption></figure>Next on the list is PI’s Relative Strength Index (RSI). It measures the speed and magnitude of recent price changes to help traders gauge whether the asset is on the verge of a turning point. The tool ranges from 0 to 100, with ratios above 70 indicating that PI has entered overbought territory and could be due for a pullback. Currently, the index stands at around 71.<figure id="attachment_1430852" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/03/PI-RSI-1.png" rel="noopener noreferrer nofollow"><img class="wp-image-1430852" src="https://cryptopotato.com/wp-content/uploads/2026/03/PI-RSI-1.png" alt="PI RSI" width="1256" height="400"></a><figcaption id="caption-attachment-1430852" class="wp-caption-text"> PI RSI, Source: RSI Hunter </figcaption></figure><h2 id="more-gains-ahead">More Gains Ahead?</h2>Contrary to the worrying factors mentioned above, some X users remain optimistic that PI could be gearing up for an additional rally in the near future. The analyst, who goes by the moniker Vuori Trading, <a href="https://x.com/VuoriTrading/status/2030224205766091028" rel="noopener noreferrer nofollow">predicted</a> a potential increase to $0.64, while ALTS GEMS Alert <a href="https://x.com/hami8040/status/2030352324246540624" rel="noopener noreferrer nofollow">forecasted</a> an ascent to as high as $0.30.The upcoming protocol update scheduled for later this week may give PI another boost, though there’s always the risk of a classic “sell-the-news” reaction, which investors should keep in mind.The post <a href="https://cryptopotato.com/pi-networks-price-skyrockets-30-weekly-can-v20-2-protocol-update-push-pi-to-0-30/" rel="noopener noreferrer nofollow">Pi Network’s Price Skyrockets 30% Weekly: Can v20.2 Protocol Update Push PI to $0.30?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Pi Network’s Price Skyrockets 30% Weekly: Can v20.2 Protocol Update Push PI to $0.30?

Table of Contents

CryptoPotato_News

Other articles published on Mar 9, 2026

Bitcoin faces pressure as US-Iran tensions lift gold

India Gold Price Today Plummets: Bitcoin World Data Reveals Market Shift

Hyperliquid HIP-3 Hits ATH Open Interest as HYPE Token Surges 5.5% on Commodity Boom

Bitcoin Momentum Indicator Flashes Worst Reading Since 2022

Real-time settlement is the missing infrastructure layer in distributed energy | Opinion

Ethereum Price Prediction: ETH Hits Resistance Despite Whale Buying

Join our free newsletter for daily crypto updates!