Why is Pi falling today? Testnet for Protocol 27 and mainnet deployment pressure support levels

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Pi drops 7.35% today to $0.0902

Highlights

Pi Network began deploying Protocol 27 on its Testnet, introducing smart contract authentication and advancing its technical roadmap.
Protocol 26 remains active on Mainnet as incremental upgrades continue, but price action has faced sustained selling pressure.
PI/USD trades below key moving averages with all major momentum indicators bearish, projecting a range of $0.0873 to $0.0931 and limited prospects for a bullish reversal.

Protocol 27 Testnet milestone as selling pressure persists

Pi Network launched the Testnet for Protocol 27 and began deploying on Testnet 1 as of August 21, 2026, according to Kucoin. This marks a substantial technical milestone in the network's planned upgrade sequence, allowing developers and node operators to evaluate new features such as smart contract authentication ahead of Mainnet transition. Coinpedia has reported that Protocol 26 was already live on Mainnet, providing a backdrop of recent, incremental improvements, though price action has remained under broader selling pressure.

Bearish momentum dominates as resistance holds and signals align lower

PI/USD is trading below MA-20 at $0.0931 and MA-50 at $0.0941 on the H1 chart, while long-term resistance remains at MA-200, set at $0.1451. The Ichimoku Kijun stands at $0.0994, serving as a critical resistance barrier. Momentum indicators are decisively negative: MACD and ADX both signal sell, RSI prints at 42.169 alongside CCI on sell, and Bull/Bear Power confirms strong seller momentum intraday. Awesome Oscillator aligns lower, while Stoch RSI signals a neutral, non-oversold state. Price action shows intensified volatility near session lows with no opening gap.

Downside favored as support threatens to break amid weak outlook

Over the next two to three trading days, price is expected to move within a volatility band from $0.0873 up to $0.0931. Downside risk is pronounced, as the probability of a bearish scenario sharply outweighs a bullish reversal. If support at $0.0873 fails, additional downside could accelerate. A bullish case would require the price to break above resistance at $0.0994, though current signals render this outcome unlikely in the short term.

Anton Kharitonov, expert at Traders Union, believes downside risks remain dominant for Pi (PI). Technical signals confirm persistent selling, with price action stalled well below resistance at $0.0994. He notes that even with Protocol 27 testing underway, market sentiment is decidedly bearish. "Until Pi reclaims short-term resistance or sentiment shifts on completed Mainnet upgrades, I see no tactical case for reversing my defensive outlook."

Earlier, analysts noted that although Pi Network's recent partnerships and network developments had supported the token, technical pressures continued to constrain its upward momentum. This view is reinforced by the current breakdown below key moving averages and the dominance of negative indicators, making the $0.0873 support level crucial for traders monitoring potential further downside.

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.