Pi Network is preparing a major protocol upgrade while its native token PI remains stuck below the $0.10 mark. The Pi Core Team has released Protocol 27 on the network’s testnet, with a mainnet rollout targeted for September 15.
PI was trading near $0.0880 on Monday after falling more than 6% the previous week. Although the token remains above the $0.0800 area, buyers have so far been unable to push it through the resistance zone between $0.1000 and $0.1022.
Protocol 27 moves to the testnet
The new protocol version incorporates the latest Stellar network protocol into Pi’s testing environment. Pi Network is built on the Stellar Consensus Protocol, and the testnet deployment gives developers an opportunity to assess the upgrade before it reaches the mainnet.
According to the Pi Core Team, Protocol 27 is designed to introduce more advanced authentication capabilities for smart contracts, applications and transactions. If the planned mainnet activation proceeds on September 15, applications operating on Pi could gain additional options for verifying users and transaction activity.
The upgrade could provide a technical catalyst for PI, although its effect on the token’s price will also depend on wider cryptocurrency market conditions and progress toward the deployment date.
PI faces resistance above $0.10
From a technical perspective, PI has been consolidating after its previous decline from $0.1341 to $0.0703. Immediate support is located near $0.0853, while the main resistance level stands at $0.1022. The psychological $0.1000 threshold remains an important level for traders.
A sustained move above $0.1022 could improve momentum and open a path toward the next major resistance near $0.1204. However, PI remains below both resistance levels, indicating that buyers have not yet established clear control.
The daily Moving Average Convergence Divergence indicator is slightly positive and remains above its signal line, suggesting that some buying interest is present. The Relative Strength Index is near 48, pointing to broadly neutral conditions rather than a decisive advantage for either buyers or sellers.
A fall below the $0.0853 support area could expose the rising trendline near $0.0785. Continued selling pressure could then bring the token back toward its previous swing low at $0.0703. In the near term, PI’s direction is likely to depend on whether buyers can defend support and generate enough momentum to clear the $0.1000-$0.1022 resistance zone.
