Pi Network has announced that it will officially launch its Open Network at 8 AM UTC on February 20, 2025. This marks the network’s transition to the Open Network phase of Mainnet.

The network had previously confirmed its plans to launch the Open Network as soon as possible in Q1 of 2025. 

Pi’s Open Network Will Launch In February 

This launch signifies the conclusion of the Enclosed Mainnet period, which began in December 2021. Throughout this period, the Mainnet was operational but safeguarded by a firewall, limiting external connectivity.

Now, with the firewall lifted at the Mainnet launch, users will be able to connect Pi to external systems, allowing it to be used in real-world applications. Notably, this phase laid the groundwork for the transition to the Open Network, giving Pioneers the opportunity to complete their KYC and gain access to Pi on Mainnet. 

It also provided developers with the time to build and launch real-world applications and utilities within the Pi ecosystem. Meanwhile, the Core Team focused on releasing and refining various features and utilities to support the network’s growth and functionality.

Ahead of the launch, Pi Network revealed that it surpassed its original goal of 10 million Mainnet migrations, reaching an impressive 10.14 million. 

“Pi is ready to open its utilities-driven ecosystem where our now over 19 million identity-verified Pioneers can use Pi—a cryptocurrency with real-world functions and applications backing it,” the announcement read.

Moreover, following the announcement, crypto exchange OKX confirmed that it will list PI on the same day as the launch. Spot trading will be available for the PI/USDT pair.

Bitcoin price is consolidating above the $95,000 support zone. BTC is struggling and might extend losses if it stays below the $100,000 level.

• Bitcoin started a fresh decline from the $98,500 resistance zone.
• The price is trading below $96,500 and the 100 hourly Simple moving average.
• There was a break below a connecting bullish trend line with support at $96,670 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another increase if it clears the $97,600 zone.

Bitcoin Price Dips Again

Bitcoin price failed to continue higher above the $100,000 zone. It started another decline below the $96,500 zone. BTC gained bearish momentum for a move below the $96,000 and $95,500 levels.

There was a break below a connecting bullish trend line with support at $96,670 on the hourly chart of the BTC/USD pair. The price tested the $95,000 zone and recently recovered some losses. There was a move above the $95,750 level.

The price surpassed the 23.6% Fib retracement level of the downward move from the $98,442 swing high to the $94,899 low. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average.

On the upside, immediate resistance is near the $96,650 level. The first key resistance is near the $97,000 level. The next key resistance could be $97,600 or the 76.4% Fib retracement level of the downward move from the $98,442 swing high to the $94,899 low.

A close above the $97,600 resistance might send the price further higher. In the stated case, the price could rise and test the $98,500 resistance level. Any more gains might send the price toward the $100,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $97,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $95,500 level. The first major support is near the $95,000 level.

The next support is now near the $93,500 zone. Any more losses might send the price toward the $92,000 support in the near term. The main support sits at $91,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $95,500, followed by $95,000.

Major Resistance Levels – $97,000 and $98,000.

Solana (SOL) price is hovering near the $200 level, with its market cap attempting to reclaim the $100 billion mark and daily trading volume at $4 billion. Meanwhile, the number of Solana whales has been declining after reaching an all-time high of 5,167 on January 25, now sitting at 5,067.

This shift in whale activity, combined with weakening trend strength in the DMI and narrowing EMA lines, suggests that SOL is at a critical point, with both bullish and bearish scenarios still in play.

Solana Whales Are Going Down After Reaching An All-Time High

The number of Solana whales – addresses holding at least 10,000 SOL – peaked at an all-time high of 5,167 on January 25 before beginning a decline. While there was a brief recovery to 5,131 on February 4, the number has continued to decrease, now standing at 5,067.

Monitoring the activity of these large holders is crucial, as whales often play a key role in market trends. Their accumulation can signal confidence and a potential price surge, while a decline in whale addresses may indicate distribution, increasing the risk of selling pressure.

Although the current whale count remains relatively high compared to historical levels, it is nearing its lowest point in the past month. This suggests that some large holders may be reducing their exposure, which could introduce volatility if the trend accelerates.

However, the overall number is still elevated, meaning there is a significant whale presence in the market. Whether this trend continues downward or stabilizes will be a key factor in determining Solana’s next major price move.

Solana DMI Shows Selling Pressure Is Easing, But Buying Pressure Remains Weak

Solana DMI chart shows a sharp decline in trend strength, with the ADX falling to 13.5 from 31.5 over the past three days. The ADX, or Average Directional Index, measures the strength of a trend, with readings above 25 typically indicating a strong trend and values below 20 suggesting weak or nonexistent trend momentum.

With the ADX now well below 20, it signals that Solana’s recent trend has significantly lost strength, leaving the market without a clear directional bias.

Looking at the directional indicators, +DI is at 20.9 and has fluctuated between 19 and 23 in the last two days, while -DI has dropped from 27.8 to 17.2. This suggests that bearish pressure has eased considerably, but bullish momentum has not strengthened enough to establish a clear uptrend.

With both indicators converging and ADX at very low levels, Solana is currently in a phase of consolidation rather than a decisive trend. Until a stronger directional move emerges, SOL price may continue to trade sideways, waiting for a catalyst to define its next move.

SOL Price Prediction: Will Solana Test The $220 Resistance Soon?

Solana price chart indicates that its EMA lines are narrowing, suggesting decreasing momentum and the absence of a clear trend direction. If bullish momentum returns and an uptrend develops, SOL price could first test the $220 resistance level.

A breakout above this could trigger further gains, potentially pushing the price to $244, its highest level since the end of January.

On the other hand, if a downtrend emerges and strengthens, SOL price could retest its key support at $187. A break below this level would expose the price to further downside, with the potential to drop as low as $176, marking a 12.5% correction.

This scenario would indicate that sellers have gained control, increasing the likelihood of continued bearish movement. With EMA lines still converging, the market remains undecided, and the next move will depend on whether buyers or sellers take the lead.