-8.81% for Pi — unstable price action amid hackathon and upgrade news

Traders Union
All News
Crypto
Pi drops 8.81% today to $0.151

Highlights

Pi Network initiated a mandatory node upgrade on February 15 and unlocked 59.4 million PI tokens, testing the platform's stability and utility.
The mainnet's 19.6 node update targets improved infrastructure reliability and scalability, while the ongoing Pi Network Hackathon sustains developer engagement.
PI trades at $0.151, below key moving averages; support lies at $0.1450 and resistance at $0.1651, with a bearish outlook dominating weekly indicators.

Node upgrade and token unlock test network stability amid developer focus

Pi Network recently announced a mandatory node upgrade and began unlocking 59.4 million PI tokens, marking a significant test for the project's stability and utility. The mainnet's 19.6 node update, first scheduled for February 12 but postponed to February 15, is designed to improve infrastructure reliability and scalability. Ongoing activity surrounding the Pi Network Hackathon has also sustained developer engagement and furthered decentralized application development within the ecosystem.

Bearish bias holds as technical boundaries and indicators conflict

PI is currently positioned below all major moving averages, reflecting continued selling pressure across the daily and weekly timeframes. The nearest technical resistance is at the Ichimoku Kijun level of $0.1651, while minor support is nearby at $0.1450. Daily momentum indicators show mixed signals: MACD and RSI suggest bearish pressure, ADX confirms a strong trend, and Stochastic RSI indicates the asset is overbought. Bull/Bear Power signals ongoing buyer activity, but overall, oscillators and trends diverge, with intraday bullishness clashing with broader bearish momentum.

Downside favored as resistance limits rebound within volatility range

For the week ahead, PI is expected to move within a typical volatility band of $0.1450 to $0.1580. The likelihood of a price increase remains low (under 20%), as a decrease is favored due to prevailing bearish signals from moving averages, MACD, and RSI. The central scenario is for the price to consolidate between $0.1450 and $0.1580. A break above $0.1651 (Ichimoku resistance) could lead to upward momentum, while a drop below $0.1450 may result in further downside toward early February lows.

Anton Kharitonov, expert at Traders Union, sees ongoing downside pressure on Pi as it sits under all major moving averages. Kharitonov notes that the recent node upgrade and token unlock add uncertainty and could weigh on sentiment. He believes that the balance of technical signals points to a likely consolidation, with bearish momentum dominating. "Base case remains a move between $0.1450 and $0.1580 — I stay defensive until we see a clear break above $0.1651."

Previously it was reported that Pi Network remains under bearish pressure, with the price trading below all key moving averages and technical indicators such as MACD and ADX confirming a downward trend despite a recent sharp rebound. Oversold signals from RSI and CCI, along with high intraday volatility and resistance at the Ichimoku Kijun level, suggest the latest uptick may be corrective rather than a sign of sustainable reversal.

Source of Data: PI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.