Pi Network price has climbed above $0.097, gaining nearly 10% over the past month as the token approaches the $0.10 level. On Sunday, Pi traded around $0.0975 while the broader crypto market remained relatively flat despite rising US inflation.
The cryptocurrency landscape showed mixed signals, with Bitcoin trading near $76,654 and Ethereum at $2,482. The total crypto market capitalization declined 1.13% in 24 hours to $2.61 trillion.
Protocol v27 Upgrade Planned for September 15
Pi Network is scheduled to upgrade to Protocol v27 on Mainnet on September 15, following the completion of Protocol 26. The upgrade introduces more flexible and secure smart contract authentication capabilities, enabling developers to create more advanced transaction approvals and services.
Node operators will be required to upgrade to version 27.1 to remain connected to the network. Regular users and mobile miners will not need to make changes to their accounts or mining procedures.
Broader Market Pressures
The timing of the Pi Network upgrade coincides with two significant events. The Federal Open Market Committee meets September 15-16 to decide on monetary policy. Market expectations, based on recent inflation data, suggested approximately 87% probability of a rate hike before the meeting.
Additionally, the CLARITY Act, which addresses digital asset supervision, faces a procedural Senate vote on September 15. A positive outcome could improve market sentiment, while failure would increase regulatory uncertainty.
Price Outlook and Support Levels
For Pi Network price to sustain momentum, it must clear $0.10, which has served as a recurring resistance level. Further resistance sits at $0.105, $0.11, and $0.12. Reaching $0.12 from the current $0.0975 level would require approximately a 23% advance.
Initial support is located around $0.095, with additional support at $0.093 and $0.09. A break below $0.09 would signal weakness in the recovery case.
Broader market conditions will play a significant role in determining whether the protocol upgrade provides a sustained catalyst for gains or generates only short-term price movement.
