Can PI hold support as oversold levels may limit further declines?

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Pi falls 7.14% today to $0.0909

Highlights

Pi Network completed its Protocol 27 mainnet upgrade, introducing major smart contract enhancements and open API access for developers.
About 242,000 users participated in the upgrade's testing phase, showing strong ongoing community involvement in network development.
PI/USD trades under key moving averages and momentum indicators confirm strong downside risk, with price expected to consolidate in a $0.0894 to $0.0924 range and a high probability of further decline.

Mainnet upgrade boosts developer tools amid persistent selling

Pi Network has completed its Protocol 27 mainnet upgrade, incorporating significant smart contract improvements and initial frameworks for a decentralized exchange, as well as introducing open API access for developers, according to Coingabbar. These additions broaden the platform’s functionality and position it for enhanced application development, with groundwork underway to support future decentralized trading. The upgrade’s testing phase also saw participation from roughly 242,000 users, reflecting sustained community engagement in the ecosystem’s evolution, though price action has remained under broader selling pressure.

Oversold readings and resistance cap rebound potential

PI/USD is now trading beneath the MA-20 at $0.0957 and MA-50 at $0.0968 on the hourly chart, as well as below the MA-200 at $0.1374 on the daily chart. Immediate resistance is identified at the Ichimoku Kijun, set at $0.0937. Momentum indicators reinforce the prevailing weakness: both MACD and ADX signal sell, while the RSI prints a deeply oversold reading of 16.6. Oversold signals are confirmed by Stoch RSI and CCI, though neither have yet indicated a reversal pattern. Bull/Bear Power highlights continued seller dominance, and the Awesome Oscillator remains negative, mirroring the established downside momentum.

Downside risk prevails as reversal signals remain absent

Over the coming 2–3 days, PI/USD is expected to consolidate within a range of $0.0894 to $0.0924. The likelihood of an upside reversal is very low, with ongoing downside risk dominating near-term price dynamics. If the pair breaks below $0.0894, additional declines could accelerate amid persistent selling pressure. Conversely, a sustained move above $0.0937 would be required before any meaningful buying interest might emerge.

Viktoras Karapetjanc, expert at Traders Union, sees the recent Pi Network Protocol 27 mainnet upgrade as a strong signal of commitment to platform evolution and future utility. He believes that large-scale user participation in testing and new tools for developers will support medium-term ecosystem growth, even if immediate price action remains under pressure. The analyst notes that seller dominance is clear in the near term, but positive technical and fundamental shifts are building a constructive long-term picture. "While the price remains weak in the short run, I am confident that ongoing innovation and community engagement will form a base for future strength in PI," Karapetjanc says.

Earlier, analysts noted that persistent technical pressures and dominance of negative indicators were constraining Pi’s price action despite incremental network upgrades. The current analysis reinforces this bearish outlook, highlighting that continued downside risk prevails, with a possible acceleration of declines if PI/USD breaches the $0.0894 support level.

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.