Pi Network Price Forecast: PI extends gains as mainnet blocks confirm Protocol v27 upgrade
- Pi Network ticks higher on Wednesday, extending its mild recovery above $0.090.
- Pi Block Explorer data shows that new blocks on the Pi mainnet are added with the v27 protocol upgrade.
- Momentum indicators remain neutral as price struggles to reclaim the 50-day EMA at $0.0923.
Pi Network (PI) is trading in the green above $0.090 on Wednesday, maintaining a mild constructive tone so far this week. Pi Block Explorer data suggests a potential mainnet rollout of the v27 protocol upgrade. Pi Network must reclaim the $0.1000 psychological threshold to sustain its upward trend.
Pi Network’s v27 upgrade rolls out to the mainnet
Pi Network recently completed the final testnet step for Protocol v27, making it ready for mainnet deployment. The new upgrade will introduce more flexible and secure smart-contract authentication. At the same time, the Pi Testnet has begun operating on Protocol v28, testing a higher-version environment than Mainnet.
The protocol upgrade could lift retail sentiment, improving recovery odds as capital rotates into altcoins across the broader cryptocurrency market.
Technical outlook: Pi Network remains capped below its 50-day EMA
Pi Network trades around $0.0913 at press time on Wednesday, extending a recovery from the September 16 low around $0.0801. Still, PI remains capped by the short-term 50-day Exponential Moving Average (EMA) at $0.0923 and well under the 100-day and 200-day EMAs at $0.1022 and $0.1310, respectively, which keeps the near-term bias bearish.
The Relative Strength Index (RSI) hovering just above 51 hints at stabilizing momentum, but the Moving Average Convergence Divergence (MACD) stays marginally below the zero and signal lines, with a shallow negative reading, suggesting upside attempts are vulnerable.
On the topside, initial resistance is seen at the 50-day EMA near $0.0923, followed by the 100-day EMA at $0.1022, reinforced by the 50% retracement of the broader decline from $0.1341 to $0.0704 at $0.1049, where sellers could reassert control if the recovery extends.
On the downside, the first support appears at the 23.6% Fibonacci retracement level around $0.0866, ahead of the structural Fibonacci anchor near $0.0704, which marks a more significant floor if bearish pressure resumes.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Author
Vishal Dixit
FXStreet
Vishal Dixit holds a B.Sc. in Chemistry from Wilson College but found his true calling in the world of crypto.
