Pi Network (PI) has experienced a slight increase, approaching the $0.1800 USD mark at the time of Friday’s update, amid the mainnet upgrade to Protocol Version 20 paving the way for smart contract deployment across the ecosystem. However, PI’s technical outlook still leans toward a downtrend, as the early-week correction indicates selling pressure remains dominant.
Latest Pi Network Upgrade Could Boost Development and Adoption
The Pi Core Team announced the successful upgrade of the mainnet to Version 20, marking a significant step forward by integrating smart contract deployment capabilities into the Pi ecosystem for the first time. Built on the Stellar blockchain platform, this upgrade is expected to open new opportunities for decentralized applications (dApps) and various new services, thereby accelerating ecosystem expansion and increasing adoption levels.
Technical Outlook: Can PI Token Return to $0.20?
Pi Network is currently trading below the descending resistance zone previously broken around $0.1948 USD and below the 50-day EMA — signals that upward momentum is weakening. Additionally, the 100- and 200-day EMAs continue to exert downward pressure, restraining a recovery in price.
Technical indicators also favor a bearish scenario. The MACD has crossed below the signal line and moved into negative histogram territory, reflecting renewed selling pressure. Meanwhile, the RSI has fallen to 45 after leaving the overbought zone, further supporting the possibility of a short-term correction.
Daily PI/USDT chart | Source: TradingView
On the downside, the nearest support zone is identified at $0.1736 USD — a previous resistance area — which could temporarily limit the decline and prevent the price from falling further to $0.1533 USD if selling pressure persists.
Conversely, as long as PI remains below the $0.1950–$0.2000 USD range, rebounds are likely to face selling pressure again when approaching resistance. Only if the price can close above this zone on the daily timeframe will the bullish outlook be reinforced, opening the possibility of retesting the March 7 high at $0.2396 USD.
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