Top Crypto Gainers: Pi Network, Kaia, Virtual Protocol extend midweek rally

Pi Network (PI), Kaia (KAIA), and Virtuals Protocol (VIRTUAL) extend their rally this week for the third consecutive day as Bitcoin (BTC) struggles to hold ground above $70,000. The technical outlook for PI, KAIA, and VIRTUAL focuses on immediate resistance levels as buying pressure resumes. 

Bitcoin recovery stagnates near $70,000

Bitcoin struggles to break out of the ongoing consolidation range, while a descending trendline connecting the highs of January 14 and 28 adds to the downside pressure. The mixed signals coming from the US-Iran war keep the global financial and cryptocurrency markets on their toes. 

Stabilizing oil prices and resolving conflicts in the Middle East could almost certainly boost demand for high-risk assets such as Bitcoin. The West Texas Intermediate (WTI) crude oil price is down to $82 during the early Asian session, from a peak of $112 on Monday, reflecting a cooldown amid the International Energy Agency (IEA) proposing its largest-ever crude oil reserve release. 

A decisive close above the February 5 high at $73,165 would confirm the breakout of the descending trendline and consolidation range to the upside. A bullish exit could extend the BTC rally toward $80,000.

On the flip side, a bearish close to the day would confirm the reversal from the overhead trendline, risking a pullback to the February 5 low at $62,345.

Pi Network rally eyes the 200-day EMA

Pi Network is up 2% at press time on Wednesday, extending gains to over 10% so far this week with three consecutive days of recovery. PI extends its breakout from a long-standing descending trendline resistance above the 100-day Exponential Moving Average (EMA) at $0.1984. The upward-sloping 50- and 100-day EMAs skew the near-term bias bullish despite the falling 200-day EMA at $0.2843.

Looking up, the immediate resistance for PI remains at Saturday's high at $0.2396, with a break opening the way toward the 200-day EMA at $0.2843.

The technical indicators on the daily chart suggest an increase in the upside momentum. The Moving Average Convergence Divergence (MACD) line sits above its signal line in positive territory with a modestly positive histogram, while the Relative Strength Index (RSI) at 69 shows strong but extended bullish momentum.

However, a reversal from $0.2396 could retest the 100-day EMA at $0.1984, near the broken trendline.

Kaia's rebound approaches a key resistance trendline

Kaia shows a steady recovery from the $0.05000 psychological support level, testing a short-term descending trendline near its 50-day EMA at $0.05745. Near-term bias stays cautiously bullish as the descending resistance trendline caps the roughly 12% rebound so far this week.  

KAIA holds below the 50-, 100-, and 200-day EMAs, keeping the broader trend under bearish pressure despite recent stabilization. A daily close above the 50-day EMA would expose the 100-day EMA at $0.06599. 

The MACD has turned marginally above its signal line near the zero line, hinting at tentative recovery momentum rather than a confirmed reversal. The RSI at 51 reinforces this stance, reflecting balanced but still fragile demand after the bounce from $0.0500.

On the downside, immediate support aligns near the $0.05000 psychological support level.

Virtuals Protocol recovery gains strength

Similar to Kaia, Virtuals Protocol recovery approaches its 50-day EMA at $0.7042, which acts as a short-term barrier. At the time of writing, VIRTUAL extends gains on Wednesday for the third consecutive day after a 6% rise the previous day.

A daily close above $0.4042 could target the 100-day EMA at $0.7852, while the broader trend remains corrective due to the descending 200-day EMA.

The MACD hovers marginally above its signal and near the zero line, while the histogram has turned slightly positive, suggesting modest upside pressure. The RSI around 53 supports a neutral-to-positive tone rather than an extended rally.

On the downside, immediate support is seen at the rising trendline now crossing the $0.6600 area, with a break there exposing the prior reaction low at $0.6315 from December 18.

(The technical analysis of this story was written with the help of an AI tool.)