Smart contract rollout and technical barriers

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Pi drops 8.00% today to $0.1948

Highlights

Pi Network's mainnet v23.0 upgrade activated smart contracts, enhancing on-chain development capabilities across the ecosystem.
A new Launchpad on Testnet enables token creation linked to user growth, with validator rewards now limited to KYC-verified accounts.
PI trades within a $0.1750–$0.2100 range under short-term pressure, with technical indicators showing a high likelihood of downside consolidation.

Smart contracts roll out as mainnet upgrade drives ecosystem expansion

On March 14, Pi Network launched its mainnet v23.0 upgrade and officially enabled smart contracts. The Node infrastructure was upgraded to version 20.2 on March 12 to prepare for expanded Web3 functionality. Additional developments include the rollout of an ecosystem Launchpad on Testnet for token creation tied to user acquisition and product utility, with proceeds supporting liquidity pools, and validator rewards are now distributed to KYC-verified accounts across the network.

Mixed momentum persists as bullish signals face oversold oscillators

Technical analysis shows PI trading near $0.1948, just under the SMA-20 ($0.1952) but comfortably above the SMA-50 ($0.1754), maintaining a positive medium-term structure. However, it remains well below the SMA-200 ($0.2286), and resistance is marked by the Ichimoku Kijun at $0.2270. Momentum indicators are mixed: daily MACD and ADX suggest underlying buy signals, while RSI and CCI hover near neutral-to-buy levels. Stoch RSI is in oversold territory, and Bull/Bear Power (BBP) is positive, highlighting a divergence between oversold oscillators and persistent, though pressured, bullish momentum.

Sideways consolidation favored as breakout odds remain limited

Over the next five trading days, PI is expected to remain in a volatility band relative to current levels, between $0.1750 and $0.2100. The probability of a price increase is low (under 20%), with weekly MACD and RSI both indicating a strong downward bias. Price action is likely to consolidate sideways within this range. A move above $0.2100 would open the door for a bullish breakout, while a drop below $0.1750 would likely prompt further declines toward lower support.

Anton Kharitonov, expert at Traders Union, sees PI facing technical pressure as short-term indicators weaken while the broader trend remains intact. He notes the mainnet upgrade and smart contract activation are positives but have failed to shift price sentiment in the near term. The analyst remains cautious given low probability for immediate recovery and prevailing downside risk below $0.1750. "Until PI reclaims $0.2100 with momentum, I view any upside as limited and prefer to stay defensive."

Earlier, analysts noted that Pi Network was experiencing heightened volatility and conflicting momentum signals amid increased liquidity and ongoing technical developments. The latest round of upgrades and mixed technical signals reinforce the prevailing uncertainty, so traders should remain alert for a decisive move beyond the $0.2100 resistance or below the $0.1750 support to gauge the next directional shift.

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.