PI bulls have managed to defend their recent gains as they aim higher.

PI Network (PI) Price Predictions: Analysis

Key support levels: $0.15

Key resistance levels: $0.20

PI Breakout Continues

After the PI price broke above its downtrend, buyers managed to defend the price above $0.15 and push it higher despite a recent pullback. This shows bulls are determined to stop the downtrend and begin recovering some of the most recent losses.

As long as the support at 15 cents holds, PI’s price action is bullish, which opens the way to test the resistance at 20 cents. If that breaks later as well, the price could spike higher fast and aim for 30 cents next.

Pullback was Succesful

The recent pullback bounced exactly off the breakout trendline, confirming a bullish bias. Moreover, PI has been green in the past two weeks, which increases confidence in the continuation of this price action.

Since sellers dominated for months in a row, it would not be surprising to see this cryptocurrency finally have a sustained relief rally as it aims to reclaim a price above 20 cents and beyond.

You may also like:

Spike in Buy Volume Confirms Reversal

The spike in buy volume on 15th February was significant and confirmed a major bullish reversal. The fact that this was followed by sustained buy pressure and higher lows demonstrates that bulls are returning. The only unknown is how long they can sustain this.

For this reason, watch closely how the price reacts at the 20-cent resistance, since that will be a decisive level for where PI goes next. Hopefully, buyers can turn it into a support that will allow them to aim much higher.

South Korea’s government and ruling party have reportedly agreed on a plan to cap the ownership stakes of major shareholders in domestic crypto exchanges at 20%.

The Democratic Party of Korea’s digital asset task force and the Financial Services Commission (FSC) agreed to set the maximum shareholding limit at 20% after discussions, according to a Wednesday report by local media outlet Herald Economy.

However, regulators may allow exceptions of up to 34% for new businesses through an enforcement decree. The threshold references the Commercial Act’s 33.3% veto threshold in general shareholders’ meetings, per the report.

Under the proposal, exchanges would reportedly have three years from the law’s enforcement to adjust their ownership structures. Smaller exchanges may receive an additional three-year grace period. Larger platforms like Upbit and Bithumb, which together control roughly 90% of the local market, would be required to reduce major shareholder stakes within the initial three-year period.

Related: Korea halts trading as key indexes drop 10% on Middle East crisis

Major Korean exchanges exceed proposed ownership cap

Current ownership levels across South Korea’s major exchanges exceed the proposed cap. Upbit chairman Song Chi-hyung holds about 25.52%, while Bithumb Holdings owns roughly 73.56% of Bithumb. Coinone chairman Cha Myung-hoon controls about 53.44%, Mirae Asset Consulting is set to hold around 92.06% of Korbit following an acquisition, and Binance owns about 67.45% of GOPAX.

The proposal, which has received some backing among regulators, faces a lengthy legislative process. A member of the National Assembly is expected to introduce the bill, though the sponsor has not yet been determined. Passage may prove challenging, as some lawmakers, including members of the ruling party, have raised concerns about restricting ownership in the sector.

An industry insider warned that the measure could have broader implications for competition. “This is unprecedented worldwide and has low global consistency. If it is excessively introduced, it could have serious negative effects such as limited competition, slowed innovation, and strengthened barriers to entry,” they reportedly told the outlet.

Related: South Korea orders cross-agency probe after repeated crypto custody failures

South Korea tightens crypto licensing rules

In late January, South Korea’s National Assembly approved changes to the country’s crypto licensing framework, introducing stricter entry requirements for virtual asset service providers (VASPs). The updated rules allow authorities to examine executives and major shareholders for a wider range of potential violations, including drug trafficking, tax evasion, fair-trade breaches and serious economic crimes.