Pi Network Tests Proposed $0.075-$0.080 Support Zone as PI Falls

Pi Network’s native token, Pi (PI), fell 2.96% to $0.07856 on Oct. 8, bringing it into a proposed $0.075-$0.080 support zone as bearish chart readings continued.

PI traded between $0.07713 and $0.08300 during the session. A separate weekly snapshot placed the token at $0.07845, down 10.14% from a weekly opening price of $0.08731.

A proposed double-bottom structure appeared on the daily chart after PI traded near $0.0868 on Oct. 5. The setup places the potential neckline between $0.105 and $0.110, but the formation remains conditional on the proposed support zone holding. The chart interpretation lists potential targets of $0.14 and $0.21-$0.22 after a confirmed breakout; those levels do not establish future price movements.

Other technical readings remained negative. The daily Supertrend level was $0.09267, above PI’s cited price. The daily MACD line was approximately -0.00200, compared with a -0.00102 signal line and a -0.00098 histogram.

Weekly Bollinger Band readings placed the midpoint at $0.10151, the upper band at $0.14272 and the lower band at $0.06030. The lower-band figure is a current chart reference that can change as new price data is added.

Pi Network’s next scheduled network milestone is a planned Protocol 28 Mainnet upgrade on Oct. 16. Node operators must upgrade to Protocol 28 by Oct. 13. The upgrade is intended to improve the handling of delayed transaction data and let developers update groups of smart contracts and stored application data more safely.

The announcement does not establish an expected effect on PI’s price. The planned Protocol 28 Mainnet upgrade is scheduled for Oct. 16.

Pi Network also said more than 417,000 users previously flagged for possible duplicate accounts could proceed with KYC after further evaluation. It also said it would deploy an update to unblock 497,000 users whose migration claims were affected by insufficient PI balances to cover gas fees.

Node operators face the Oct. 13 upgrade deadline before the planned Oct. 16 Mainnet milestone.