What triggered Pi Network price latest price pullback

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Pi Network slides 10.38% today

Highlights

Pi Network advanced its protocol with a v20.x upgrade and initiated Batch 2 Mainnet migration, allowing verified users incremental balance transfers on Mainnet.
Smart contract functions and the Pi Launchpad debuted on Testnet, while a new PiRC1 token standard is under review to strengthen ecosystem growth.
Pi trades under key moving averages with increased volatility, likely remaining bearish below $0.2270 and at risk of further declines if $0.1760 breaks.

Active ecosystem upgrades as price remains under selling pressure

Pi Network launched its Batch 2 Mainnet migration, rolling out the v20.x protocol upgrade that allows verified users to access incremental balance transfers and live-chain balances in a Mainnet environment. On March 15, smart contract capabilities were activated and an early version of the Pi Launchpad debuted as a Pi App on the Testnet, letting users test new token launch processes ahead of a future Mainnet deployment. The network is also proposing the PiRC1 token standard through community review to enhance ecosystem activity and support decentralized app and governance initiatives, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, highlights sustained selling pressure on Pi Network as its price remains below key moving averages. He sees little relief from recent fundamental developments, noting that the launch of new protocol features has failed to provide upward momentum. Technicals reflect dominance from sellers, with oscillators flashing oversold signals that do not yet translate into buying strength. The risk of a further breakdown is elevated, particularly if PI falls under support at $0.1760. "Despite incremental protocol upgrades, I see no convincing technical or fundamental catalyst for a reversal — caution is warranted as the bears remain firmly in control."

Viktoras Karapetjanc, expert at Traders Union, acknowledges the current price pressure but focuses on ongoing ecosystem growth from the v20.x protocol upgrade and early Launchpad access. He views the rollout of smart contracts and the community-driven PiRC1 standard as strategic steps to foster adoption and network value. Karapetjanc maintains that the broader development outlook remains bullish, with fresh opportunities for engagement and innovation. "While volatility is high, the Pi ecosystem's accelerating progress sets the stage for renewed optimism and future upside."

Mixed momentum signals as sellers drive price to oversold zone

PI is trading below the SMA-20 at $0.1986, between the SMA-50 at $0.1761 and well under the SMA-200 at $0.2271. This setup indicates continued short-term and long-term seller pressure, with possible medium-term support in the $0.1760 — $0.1980 zone and the Ichimoku Kijun at $0.2270 acting as the next major resistance. Momentum signals present a mixed picture: D1 MACD shows strong buying potential, while D1 ADX confirms a solid trend. However, most oscillators point to oversold territory — D1 RSI reads 50.05, and Stoch RSI hovers near its lows — reflecting exhaustion from sellers, while CCI is essentially neutral. BBP points to sellers controlling intraday dynamics. The current price at $0.1827 marks a steep 10.38% fall for the day, with no significant gap at the open, and now sits near the session low of $0.1818. Intraday volatility is high and the tone remains under pressure after the open, as downside momentum dominates. There is a clear divergence between strong daily momentum and several oversold oscillators, highlighting the risk of a technical rebound even as sellers stay in control.

Earlier, analysts noted that Pi Network was mired in conflicting technical signals and persistent uncertainty amid ecosystem upgrades and mixed market momentum. The latest developments reinforce this dynamic, with persistent seller control and elevated volatility putting focus on whether PI can defend support at $0.1760 or risks a deeper technical breakdown in the sessions ahead.

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

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