Pi Network’s PI token climbed into the green this week, trading around $0.1770 on Friday after a 4.5% gain in 24 hours — outpacing much of the broader crypto market. The move comes as the Pi Core Team (PCT) pushes a series of mainnet upgrades designed to unlock smart-contract functionality, a development that many investors view as a potential longer-term price catalyst.
Why the surge? PCT set an April 27 deadline for all mainnet nodes to complete required steps to remain connected as part of the Stellar Protocol v22 upgrade. The update will require a brief ~15-minute downtime for internal data transfer but is intended to pave the way for subsequent improvements. The team has also scheduled a full upgrade to Protocol v26 on June 22, ahead of Pi2Day on June 28 — a sequence of milestones that keeps attention on PI heading into summer.
Technical picture
- Short-term action: The 4-hour chart shows a bearish bias overall, but PI has bounced to trade around $0.1770.
- Moving averages: The token remains below its 50-, 100- and 200-day EMAs, underscoring that the broader trend is still negative.
- Resistance levels: $0.1785 (50-day EMA), $0.1865 (100-day EMA), and $0.2334 (200-day EMA).
- Support levels: Immediate support sits at $0.1556 (near the February 23 low); a deeper break could expose $0.1310.
- Momentum indicators: RSI is at about 71, moving into overbought territory, while MACD has crossed above its signal line — signaling growing short-term bullish momentum despite the longer-term downtrend.
Outlook
Investors will likely watch how the node deadline and subsequent protocol upgrades play out. If the upgrades proceed smoothly and smart-contract functionality arrives without major disruption, PI could find fresh buyers and test the EMA resistance levels. Conversely, failure to sustain gains or negative market reaction to downtime could send the token back toward key support zones.
Bottom line: PI’s recent pop reflects optimism around upcoming protocol milestones, but technicals show the token still has work to do to reclaim a bullish longer-term posture.
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