Testnet V20.2 release and KYC extension drive gains

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Pi jumps 15.38% to $0.2015 today

Highlights

Pi Network advanced its platform with the Testnet V20.2 release and set its Open Network launch target for Pi Day.
The KYC deadline has been extended to November 30, 2024, facilitating broader mainnet migration and ecosystem participation.
PI remains in a bullish short-term trend near $0.2015, but technicals show increasing overbought signals with anticipated rangebound action between $0.1810 and $0.2210.

Ecosystem expansion accelerates with Testnet updates and KYC extension

Pi Network has completed its latest major update, with the Core Team confirming that the next major development is targeted for Pi Day. The platform has introduced Testnet V20.2, featuring desktop validation and enhanced reliability testing with the Stellar Consensus Protocol and mobile security circles. The community is preparing for the Open Network launch with a KYC deadline extension to November 30, 2024, supporting expanded mainnet migration and ecosystem progress.

Bullish momentum persists amid overbought signals and key support

At $0.2015, PI is trading above both its MA-20 ($0.1711) and MA-50 ($0.1700), while remaining below the longer-term MA-200 ($0.2354). This suggests the short- and medium-term trends are bullish, but with lingering long-term resistance from higher levels; the Ichimoku Kijun at $0.1693 now acts as immediate support. Momentum signals on the daily timeframe are positive, with both MACD and ADX indicating strengthening upward momentum. The RSI sits in bullish territory but is not yet overbought, while the Stochastic RSI and Commodity Channel Index flag overbought conditions. Bull/Bear Power shows buyers dominating intraday sentiment, and the Awesome Oscillator also aligns with ongoing strength. PI gained 15.38% since the previous close and opened slightly higher without a notable price gap, currently trading near the session high of $0.2042 within a volatile and upward session marked by persistent bullish pressure after the open. There is some divergence as several oscillators highlight overbought conditions, signaling potential caution despite strong momentum and buyer dominance.

Downside risk rises as overbought conditions weigh on outlook

For the next five trading days, the expected price range is $0.1810 to $0.2210, a volatility band relative to current levels. The probability of further price increase is very low (less than 20%), making a decline the more likely movement in the short term. In the baseline scenario, PI remains in a sideways corridor near current levels. In a bullish scenario, the price breaks above $0.2210 with renewed momentum, while in a bearish scenario, a retracement below $0.1810 exposes the asset to further weakness, especially if overbought signals trigger a correction.

Viktoras Karapetjanc, expert at Traders Union, sees PI’s sharp rally and ongoing technical upgrades boosting both sentiment and fundamental adoption. He notes that strong short- and medium-term momentum is supported by positive community developments and a clear roadmap. However, overbought signals and long-term resistance cap immediate upside, prompting a balanced tactical stance. Karapetjanc believes the news-driven optimism may support higher consolidation as long as support levels hold. "Momentum and fundamentals are aligning, so I remain constructive while watching for a breakout above $0.2210 or a healthy pullback to reset the trend."

Previously it was reported that Pi Network (PI) is trading near multi-month lows after a prolonged correction, with moderate liquidity and persistent weakness reflecting diminished speculative interest. Key technicals highlight high volatility, limited support, and continued susceptibility to supply-driven downside, with momentum indicators remaining weak.

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.