Pi Network traded near $0.095 during recent activity, holding just below the $0.10 level as the network prepares for a significant infrastructure upgrade. The token's movement comes as the broader cryptocurrency market gained 1.15% to $2.65 trillion over the past 24 hours, supported by Bitcoin trading around $77,321 and Ethereum near $2,536.
Protocol 27 Upgrade Targets Mid-September Launch
Protocol 27 entered Testnet 1 on August 21 and is targeted for mainnet activation on September 15. The upgrade is expected to improve smart contract authentication, RPC infrastructure, and automated market maker liquidity pools, providing developers with enhanced foundations for exchange, payment, and decentralized application development.
Pi Network introduced additional developer tools on September 4, including local application storage, staking data access, and native file-sharing capabilities. The updated documentation consolidates authentication, payments, sandbox testing, and launch guidance into a single developer hub.
Market Context and Policy Headwinds
The Protocol 27 launch coincides with the Federal Reserve's September 15-16 meeting, where interest-rate decisions are scheduled for September 16. Market participants are weighing the potential impact of monetary policy on speculative assets like Pi Network.
Technical analysis shows Pi Network trading above its $0.094 short-term support level, with immediate resistance at $0.098 and $0.10. Daily RSI stands near 55, indicating moderate positive momentum without overbought conditions, while MACD displays a bullish signal with positive histogram, though momentum remains modest.
A sustained move above $0.10 could expose higher resistance levels at $0.111 and $0.137. Breaking both barriers with increased volume would place $0.15 within the possible range, representing over a 55% increase from current levels. Failure to maintain the $0.094 support could lead to declines toward $0.09 and lower levels.
