Key Insights:
- PI rose 4% on Monday, extending its two-day recovery as the wider crypto market strengthened.
- Protocol V27 is currently running on Testnet 2 at 250 transactions per block with zero recorded failures.
- PI coin stays below its 50-day, 100-day, and 200-day EMAs, keeping the broader technical structure bearish.
Pi Network’s price kept climbing on Sept. 21 as the project pushed forward with its Protocol V27 rollout. PI traded close to $0.0894 during the most recent session, marking a 5.7% increase over 24 hours. Additionally, Pi Network confirmed that its Mainnet blockchain protocol upgrade is officially underway, requiring Mainnet node operators to transition to v27.
This upward bounce aligns with a general recovery across the crypto market. Nevertheless, PI stays underneath multiple longer-term moving averages, meaning the overarching technical trend is weaker than what the single-day price action indicates.
Pi Network Protocol V27 Mainnet Upgrade Is in Progress
Pi Network has successfully transitioned Protocol V27 to Testnet 2 following preliminary testing on Testnet 1. The protocol has held steady at roughly 250 transactions per block without any documented failures throughout the evaluation period. This performance supplies developers with an extra metric for gauging network stability before broader implementation.
The network advanced to V27 after finishing the Protocol 26 upgrade on the Mainnet. Subsequently, the project transitioned the Testnet toward Protocol 27 ahead of Testnet 2 evaluations. This rollout order intentionally separates protocol validation from the node migration currently taking place across the Mainnet.
During this phase, the network utilizes Pi Node Docker V27.1.0. Pi Network’s official Node page also verifies that the Mainnet blockchain protocol upgrade is actively underway, mandating that every Mainnet node update to V27 and demonstrating that the transition has officially reached network operators.
Protocol V27 centers on delivering enhanced transaction authorization and improved infrastructure for future applications. Furthermore, the update grants developers greater flexibility when designing services that rely on authenticated transactions. While reports have connected the update to upcoming decentralized exchange tools, Pi Network has not yet revealed an official DEX launch date.
PI Price Recovers With Broader Crypto Market
The PI coin price hovered near $0.089 on September 21 after climbing more than 4% throughout the day, extending the token’s recovery from the prior session. Concurrently, Bitcoin climbed past $85,000 as general crypto market sentiment improved.
Market analytics highlighted substantial short liquidations as Bitcoin climbed. Roughly $688 million in cumulative crypto liquidations transpired over a 24-hour window, comprising approximately $598 million in short positions. Furthermore, the Fear and Greed Index climbed to 77, pointing to an elevated risk appetite throughout the marketplace.
Even with this rebound, the PI cryptocurrency continues to trade beneath several medium-term technical markers. The price remains trapped below the 50-, 100-, and 200-day exponential moving averages, a configuration that keeps the larger trend under pressure despite the short-term surge in demand.
Pi Coin Price Prediction Tests $0.0924 Resistance
Current Pi Coin price forecasts focus on the 50-day EMA situated around $0.0924. Achieving a daily close above that threshold could bring the $0.0990 mark back into view, a zone representing the 50% Fibonacci retracement level calculated from the $0.1394 peak and the $0.0704 trough.
Should PI coin fail to break past $0.0924, market participants may monitor $0.0827 as the nearest support marker, which corresponds to the 23.6% Fibonacci retracement. A steeper downturn would direct focus toward the foundational low at $0.0704.
Meanwhile, node operators face a distinct directive: Mainnet node operators must upgrade to V27 as Pi Network advances its protocol rollout. V27.1.0 images are presently accessible for Docker-based server nodes, and operators are advised to follow the official guidelines tailored to their individual node configurations.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments involve risk, and past performance does not guarantee future results.
Frequently Asked Questions
What is driving the recent recovery in Pi Coin (PI)?
PI’s recovery is driven both by its project advancements—such as the Protocol V27 rollout—and a broader market-wide crypto recovery that has seen improved sentiment and rising prices across major digital assets like Bitcoin.
What is the status of the Protocol V27 upgrade?
Protocol V27 is currently running on Testnet 2, holding steady at approximately 250 transactions per block without any recorded failures. Simultaneously, the Mainnet blockchain protocol upgrade is officially underway, requiring Mainnet node operators to migrate to V27 using Docker V27.1.0.
What key price levels are traders watching for PI?
Traders are closely watching the 50-day exponential moving average near $0.0924 as a crucial resistance level. If PI breaks above it, $0.0990 is the next target. On the downside, nearby support sits at $0.0827, with a structural low at $0.0704.