Pi Network is trading near $0.0880, consolidating below the $0.1000 psychological level following a more than 6% gain the previous week. While the cryptocurrency remains above the $0.0800 threshold, momentum indicators show that buyers have not yet developed sufficient pressure to sustain a breakout.
The mixed technical performance coincides with upcoming network developments. On Saturday, the Pi Core Team announced the release of Protocol 27 on the Pi Testnet. Built on the Stellar Consensus Protocol, the update incorporates the latest Stellar network features into the testing environment to support advanced smart contract authentication for applications and transactions.
The Pi Core Team has scheduled the mainnet rollout of Protocol 27 for September 15. The upgrade is intended to expand authentication options for network applications, serving as a technical catalyst while market participants monitor broader cryptocurrency conditions.
On the technical front, PI is consolidating between levels stemming from its prior decline from $0.1341 to $0.0703. Immediate support is positioned near $0.0853, with a break below this area potentially exposing a rising trendline near $0.0785 or the previous swing low of $0.0703.
On the upside, immediate resistance sits at $0.1022. A confirmed breakout above this barrier could clear a path toward the next major resistance at $0.1204. However, current technical readings show a neutral market stance, with the Relative Strength Index hovering near 48 and the daily Moving Average Convergence Divergence remaining slightly positive but lacking the strength to confirm a sustained rally.
