Why Pi Network, KAITO, and Ethereum Are Gaining Momentum This March

The cryptocurrency market has shown signs of recovery, adding $28 billion to its total market capitalization within the last 24 hours.

This revival has piqued interest in various altcoins, particularly Pi Network (PI), KAITO (KAITO), and Ethereum (ETH), which are among the top trending assets today.

Pi Network (PI)

The PI coin from Pi Network is currently one of the most searched cryptocurrencies. Reflecting the broader upward trend in the market, the altcoin has surged by 8% in the past day.

According to analysis of its four-hour performance, PI's price is positioned above the dynamic support level of its Super Trend Indicator. This tool assesses price direction and trend strength, changing color to reflect market conditions—green indicates an uptrend, while red signifies a downtrend.

As long as PI continues to trade above the Super Trend indicator, the outlook remains bullish. This trend suggests that buying activity is surpassing selling pressures, prompting traders to close short positions and enter long ones.

Should demand for PI increase, the price may break through its resistance at $2.05, potentially reaching its all-time high of $3.

However, if selling pressure resumes, this positive outlook may be compromised, resulting in a possible decline to $1.62.

KAITO (KAITO)

Another trending altcoin today is KAITO, an AI token currently priced at $1.96, after experiencing a 26% price increase over the last day.

Insights from the Elder-Ray Index indicate a bullish shift in market sentiment toward KAITO. Presently, this measure reflects the first positive reading since March 2, confirming a rise in buying pressure within KAITO's spot markets.

The Elder-Ray Index stands at 0.48, signaling that bulls are asserting control, suggesting strong buying momentum and upward potential for KAITO’s price.

If this trend continues, KAITO could surpass its resistance at $2.27 and reclaim its previous all-time high of $2.92.

Nevertheless, heavy profit-taking might lead to a retracement down to $1.85.

Ethereum (ETH)

The leading altcoin, Ethereum (ETH), has also gained traction, appreciating by 6% over the past 24 hours and now trading at $2,210.

On the daily chart, ETH is trading just under its resistance level of $2,224. Continued demand for Ethereum could push its price above this threshold, potentially approaching $2,500.

However, if bearish momentum takes hold, a drop below the $2,000 mark could lead ETH’s price to decline to $1,192.

As the cryptocurrency market enjoys this recovery, keep an eye on these altcoins as they demonstrate promising upward trends.