PI has been in a persistent downtrend since reaching an all-time high of $3 on February 26. In fact, it has traded below a descending trendline since April 12, highlighting the negative bias against the altcoin.
However, the tide may finally be turning. Technical indicators now point to a potential bullish resurgence, hinting at a PI rebound in the short term.
PI’s Quiet Accumulation Phase Could Trigger a Rally
BeInCrypto’s assessment of the PI/USD one-day chart suggests that the altcoin may be preparing for a bullish breakout. For example, its on-balance volume (OBV) has spiked over the past two days, showing early signs of accumulation.
The OBV indicator uses trading volume to predict price movements, adding volume on up days and subtracting it on down days. When its value rises like this, it suggests a surge in buying pressure.
OBV is considered a leading indicator, meaning it often moves ahead of price action and can signal shifts in market sentiment before they are reflected in the asset’s price. Therefore, PI’s rising OBV indicates that buyers are quietly accumulating the token, even as its price remains subdued.
This divergence signals that bullish momentum is building, increasing the likelihood of a PI breakout once broader market sentiment aligns.
Furthermore, the red bars forming PI’s BBTrend indicator have gradually shrunk. This reduction suggests that selling pressure is weakening, serving as an early signal that the current downtrend may be losing steam.
In technical analysis, a contraction in the BBTrend histogram is a precursor to a potential trend reversal, especially when accompanied by rising volume and other bullish indicators.
As the bars shorten, it indicates that volatility is stabilizing in the PI market and that a bullish shift in price is increasingly likely.
PI for Reversal as Bullish Signals Point to $1 Breakout
PI currently trades at $0.591, resting below its descending trend line, which forms resistance above it at $0.605. If bullish pressure strengthens and PI demand rockets, it could flip this price point into a support floor and climb toward $1.01.
TAO, the altcoin that powers Bittensor’s decentralized machine learning network, has soared 10% in the past 24 hours. It has outperformed major cryptocurrencies like Bitcoin (BTC), which has seen a modest gain of 0.13%, and Ethereum (ETH), whose value has dipped by 1.3% over the past day.
With technical indicators hinting at growing bullish pressure, TAO could extend its double-digit rally in the short term.
TAO Flashes Bullish Signal
TAO’s price has broken above its 20-day Exponential Moving Average (EMA), an indicator that suggests a strong bullish trend in its spot market.
The 20-day EMA measures an asset’s average price over the past 20 trading days, giving more weight to recent prices. When an asset’s price breaks above this key moving average, it signals a shift in momentum toward a bullish trend. Traders view it as a short-term signal that the asset may continue to rise.
This crossover confirms TAO’s growing buying pressure and renewed investor confidence. It also hints at a sustained price rally as long as the 20-day EMA remains below the token’s price, to offer a dynamic support floor against any significant price dips.
Additionally, the altcoin’s rising Relative Strength Index (RSI) further supports the demand spike, reinforcing the likelihood that TAO’s upward trend could continue. At press time, this is at 54.86.
This indicator ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound
TAO’s RSI confirms that bullish momentum is building gradually. It indicates growing buying interest, with room for further upside before reaching overbought conditions above 70.
TAO Eyes $279.70 Breakout as Bullish Momentum Builds
TAO currently trades at $255.20. With strengthening bullish pressure, the altcoin could extend its gains and break above $279.70, its next major resistance level. A successful breach of this price spot could propel TAO’s price to $366.10.
However, a spike in profit-taking activity will invalidate this bullish outlook. If demand wanes and TAO sellers regain market control, they could force the token’s price below its 20-day EMA, which forms dynamic support at $237.30.
If this happens, the TAO token price could fall further to $163.70.
For years, crypto in Africa was synonymous with Bitcoin (BTC). Today, that narrative has flipped, with companies like Yellow Card, a crypto exchange operating in Africa, clearly reflecting this shift.
In an exclusive with BeInCrypto, Yellow Card co-founder and CEO Chris Maurice reveals how it is building a pan-African stablecoin network to leapfrog traditional finance (TradFi). This is amid growing regulatory clarity, collapsing fiat systems, and a remittance revolution.
Stablecoins Are Transforming Africa’s Financial Scene
The pan-African exchange operates in over 20 markets, and Maurice says stablecoins now account for over 99% of its transactions. This makes Yellow Card a bellwether for what might be the most transformative trend in emerging markets finance.
“When we first launched Yellow Card in 2019, people were exclusively buying Bitcoin. Now, the most popular asset is Tether (USDT),” Maurice told BeInCrypto.
As it happened, necessity, not speculation, has driven this evolution. Africa leads the world in peer-to-peer (P2P) crypto trading volume. However, unlike global crypto hubs chasing volatile returns, Africans are choosing stablecoins out of financial survival.
Local currencies are eroding under inflationary pressure in countries like Nigeria, which ranks second globally in crypto adoption (per Chainalysis). Stablecoins offer a reliable store of value and seamless means of cross-border payments.
This is especially critical in a continent with $48 billion annual remittances and persistent banking limitations.
“Stablecoins are solving practical financial services challenges in Africa. People aren’t in love with the tech. They need faster, cheaper ways to move money to survive and thrive,” Maurice added.
Infrastructure Built for the Unbanked
Yellow Card has gone beyond trading services. Its infrastructure integrates mobile money systems (like M-Pesa in Kenya) and local fiat currencies such as the Nigerian naira and Ghanaian cedi. According to the firm’s CEO, this helps onboard users without bank accounts.
By managing compliance, currency exchange, and payments internally, the firm enables businesses to operate without battling unreliable local rails.
“Our mission is to let companies invest, hire, and grow in emerging markets without needing to stress over infrastructure. We’ve built the back office [meaning] cybersecurity, AML, [and] data protection, so they can focus on growth,” he articulated.
The Regulatory Dam Has Broken
Maurice also observed that African regulators kept crypto in limbo for years. In Yellow Card’s view, 2024 marked a tipping point.
“There is regulatory momentum in Africa that is only accelerating. The dam has broken,” he said.
South Africa now classifies crypto as a financial product. It has licensed major exchanges like Luno and VALR. Countries in the Central African Economic and Monetary Community (CEMAC), Mauritius, Botswana, and Namibia have followed suit with licensing regimes.
Meanwhile, regulatory incubators are emerging in Kenya, Nigeria, Rwanda, and Tanzania. Against this backdrop, Maurice says Yellow Card has actively helped draft legislation in Kenya and supports crypto frameworks in Morocco.
Fighting the Informal Market
Still, challenges remain. In countries like Ethiopia, Cameroon, and Morocco, outright bans have driven users underground into high-risk P2P networks. Yellow Card pushes for frameworks that level the playing field for compliant players.
“We face a lot of competition from companies that don’t maintain high AML standards…A level playing field is all we seek,” he said.
With $85 million in venture funding, Yellow Card is deploying capital into compliance and partnerships. With this, the company positions itself as the go-to infrastructure provider for global firms looking to tap African markets.
From Africa to Emerging Markets Everywhere
Cross-border payments are perhaps Yellow Card’s most powerful use case. The company’s co-founder says its stablecoin-powered rails are helping businesses reduce working capital needs, expand to new regions, and hire faster.
“We’ve had clients tell us we’ve enabled them to scale into new countries and reduce their costs dramatically. That’s real economic impact,” said Maurice.
The company is not stopping at Africa. Its infrastructure extends into other frontier markets, with a wave of strategic partnerships expected in 2025.
“Yellow Card has built a series of easy buttons for developed world companies to expand into complicated, high-growth markets,” he noted.
“Stablecoins are already a standard part of the financial infrastructure in Africa. CFOs and treasurers in traditional industries are now routinely using them to store and transfer value,” he added.
Africa’s crypto market is still small compared to global giants. Nevertheless, as the world shifts from speculation to utility, the continent’s fragmented financial systems may offer a glimpse into crypto’s most impactful use case: economic empowerment. For Yellow Card, the mission is clear and increasingly urgent.
“We’ve built a company for longevity and scale. Crypto adoption in Africa is stablecoin adoption,” Maurice concluded.
Binance Futures is launching LDUSDT, a reward-bearing margin asset based on Tether’s popular stablecoin. This product will focus on offering flexibility to the user, who can trade LDUSDT while reaping APR rewards.
This is the second product of this nature that Binance Futures has offered following its BFUSD launch last November. LDUSDT is scheduled to launch this month, and its success may encourage similar margin offerings in the future.
Binance Futures added another such asset today: LDUSDT, a reward-bearing margin asset that lets users earn APR rewards from Simple Earn USDT Flexible Products.
“After the launch of our first reward-bearing margin asset BFUSD was positively received by users, we are pleased to introduce yet another product to bring more utility to our users. LDUSDT increases capital efficiency for users and lets users put their assets to work for them,” Jeff Li, VP of Product at Binance, said in an exclusive press release shared with BeInCrypto.
Binance’s new asset is based on Tether’s USDT, the world’s leading stablecoin, but LDUSDT is a totally different asset. Its main focus is on giving Binance users more flexibility, as they can trade this asset while continuing to reap passive income from APR.
This option is available to all users that have USDT on Binance Earn’s Simple Earn Flexible Products. LDUSDT is Binance’s second reward-bearing non-stablecoin margin asset, following BFUSD, which was launched last November.
Although the firm recently delisted USDT from its European operations due to regulatory concerns, this product is centered around the popular stablecoin.
According to the announcement, the exchange will launch LDUSDT “soon” without a specific release date. The exclusive press release claimed that the asset will be released sometime this April.
The company did not indicate whether it would offer more margin assets like this in the future. However, LDUSDT gives Binance Futures’ users a huge level of flexibility, which will hopefully encourage users to experiment.
A success here could encourage the firm to follow this up with similar products in the future.
