Pi Network (PI) traded up 1.75% at $0.084 following the completion of major Know Your Customer (KYC) and mainnet updates. The recent upgrades have successfully unblocked access for nearly one million users who previously faced progression issues.
Mainnet and KYC Improvements
According to a blog post by Pi Network, the updates successfully resolved issues related to duplicate KYC accounts and wallet migrations for fast-track users. Improvements to the identification process for duplicate accounts mean that more than 417,000 users can now continue with their KYC procedures.
Additionally, a mainnet migration improvement allows 497,000 users who utilized the Fast-Track process to finally access their migration balances. These updates follow the recent completion of the v27 upgrade, which was the final planned upgrade on the blockchain.
Open Interest and Market Indicators
Data from Coinalyze indicates that Pi Coin's open interest rose from $23.77 million on September 16 to $36.49 million, reaching its highest level since July 2026 and pointing to strong speculative demand. However, the funding rate remained negative for three consecutive days, reflecting an increase in short positions as futures traders bet on a price decline.
From a technical standpoint, Pi Network continues to trade below all crucial Exponential Moving Averages (EMAs), including the 20-day and 50-day EMAs, keeping the long-term outlook bearish. The daily Relative Strength Index (RSI) reading sits at 38, indicating that momentum continues to favor bears.
Despite the bearish indicators, the recent gains pushed the price toward the 38.2% Fibonacci resistance level at $0.085. A move above this resistance could clear a path toward the $0.10 psychological level, whereas failure to break through may result in a decline toward the 23.6% Fibonacci level at $0.079.
