PI stands at $0.1770 amid major group’s main net upgrade plans
Key receivers
The Pi Network PI token stands at $0.1730, up 4.5% from the previous day.
With a deadline set for April 27th, the Pi Core team's update to enable smart contracts is a possible reason.
Pi Network's PI token has been hovering around $0.1770 since Friday, a 4.5% gain from the previous day.
PiCore Group (PTT) is rapidly moving toward network upgrades that will enable smart contract functionality—expected to be a key driver of price action.
PI collects before protocol 22 update
PI has increased 4.5% in the last 24 hours, outperforming the broader crypto market. The rally comes after the PiCore team announced April 27 as the deadline for all mainnet nodes connected to the network to complete the remaining necessary steps, such as the Stellar protocol version 22 update.
Although this improvement results in a short 15-minute delay during internal data transfer, it lays the groundwork for future improvements. Additionally, a full upgrade to version 26 is scheduled for June 22, ahead of Pi2day on June 28.
Will PI go higher in the near future?
The 4-hour chart of PI/USD is weak and bearish, trading above the $0.1770 level. But Pi Network remains in a bearish position, with the token still trading below the 50-, 100- and 200-day exponential moving averages (EMAs).
The immediate resistance level is at $0.1785, corresponding to the 50-day EMA, followed by strong resistance at $0.1865 (100-day EMA) and $0.2334 (200-day EMA).
However, speed indicators present mixed signals. The Relative Strength Index (RSI) is above the neutral 50 line at 71 and is heading into overbought territory.
Moving Average Convergence Divergence (MACD) crossing above the signal line indicates bullish momentum.
On the downside, key support is found near the February 23 low at $0.1556, further weakness could expose $0.1310 if the market breaks below this level.
