Pi Network edges higher as unlocks, listings shape liquidity

• Lyla Velez
• February 18, 2026
• News
• 0 Comments

Key Points:

• Rally likely short-lived without resistance breakout and easing token supply.
• Sustained upside requires breaking resistance while supply pressures diminish.
• Price momentum fades unless resistance clears and circulating supply contracts.

Pi Network’s rebound has extended into midweek, but the bigger test is still ahead. Whether momentum endures will likely hinge on clearing resistance and absorbing fresh supply.

This analysis reviews the immediate technical setup, then examines migration dynamics, exchange inflows, and their effect on circulating supply across centralized venues.

Near term, the rally appears tactical rather than structural. If buyers fail to force a decisive breakout, gains tend to fade as participants realize profits into strength.

Supply remains the principal headwind. As reported by Cryptopotato, an overhang from upcoming token unlocks and muted external demand has been stifling momentum, with few large capital inflows to offset issuance.

Limited utility visibility and constrained listings also weigh on durability. Without deeper liquidity and more venues, incremental sellers can exert outsized pressure during risk-off stretches.

Technical drivers: momentum, resistance near $0.28–$0.30, supports and signals

At the time of this writing, Pi Network (PI) trades around $0.1900 and is up nearly 8% week over week, as reported by FXStreet. Recent strength has tracked pre-anniversary optimism and improving sentiment.

Technicians are watching a resistance band near $0.28–$0.30. Unless price closes above that zone on convincing volume, the setup risks stalling, with initial support clustered around short-term moving averages.

“The next leg depends upon new news, such as exchange listings and merchant partnerships,” said Kim H Wong, contributor at CoinCentral.

Migration pause, exchange inflows, and circulating supply on CEX

Based on data from CoinStats, approximately 2.90 million PI have been deposited on centralized exchanges following the bounce, a pattern consistent with profit‑taking as liquidity returns.

Earlier in February, migration volumes were substantial, 71.18 million PI on February 6 and 58.33 million on February 2. The figures indicate more supply reaching venues where it can be sold.

Absent a slowdown in these flows or a broadening of listings that deepens order books, elevated circulating supply on CEX can cap rallies and magnify retracements. That supply‑demand balance will likely define the next phase.