Pi Network is attempting a modest recovery after recent selling pressure, with the PI token trading around $0.0905. The move comes as the broader cryptocurrency market maintains a risk-on tone, with the CoinMarketCap Fear and Greed Index at 68, a level classified as Greed.
The recovery has not yet changed PI’s near-term technical structure. The token remains below its 50-day Exponential Moving Average (EMA) at $0.0917, making that level the first major test for buyers. A sustained move above it would improve the short-term setup and expose higher resistance around $0.0990.
Recent CoinGecko data also shows PI trading around the $0.09 area, following a recovery from September’s lower levels.
Market Sentiment Supports PI Recovery
The broader cryptocurrency market continues to show relatively strong risk appetite. CoinMarketCap’s Fear and Greed Index measures crypto-market sentiment on a scale from 0 to 100, with readings between 51 and 74 classified as Greed.
A sustained improvement in sentiment can support demand for higher-risk altcoins, although sentiment alone does not confirm a trend reversal for PI. The token still needs to overcome its technical resistance levels before the recovery can develop into a broader advance.
The upcoming Protocol 28 upgrade is another factor attracting attention. FXStreet reports that the Pi Core Team scheduled Protocol 28 for October 16, with the upgrade focused on transaction data handling and smart-contract maintenance. Pi’s own Node documentation also confirms that Mainnet nodes are being upgraded to v28.
- Current PI area: $0.0905
- 50-day EMA: $0.0917
- Market sentiment: 68, Greed
- Protocol 28: October 16
$0.0990 Becomes the Next Target
The daily technical analysis remains mixed. PI is below its 50-day EMA at $0.0917, while the 100-day EMA at $0.1008 and 200-day EMA at $0.1337 remain substantially higher. Their positioning continues to reflect the broader downward trend.
A confirmed breakout above $0.0917 would bring the 50% Fibonacci retracement at $0.0990 into focus. That level is reinforced by the 100-day EMA near $0.1008, creating a significant resistance cluster between $0.0990 and $0.1008.
Momentum indicators are less decisive. The Relative Strength Index (RSI) is near 50, indicating balanced momentum, while the MACD is marginally above its signal line. Neither indicator currently provides a strong confirmation of a sustained bullish reversal.
On the downside, the 23.6% Fibonacci retracement at $0.0827 provides the first important support. A break below that area would expose the cycle low near $0.0704.
Key PI levels
- $0.0917: 50-day EMA resistance
- $0.0990: 50% Fibonacci target
- $0.1008: 100-day EMA
- $0.0827: Immediate Fibonacci support
- $0.0704: Cycle-low support
Conclusion
Pi Network remains caught between improving broader crypto sentiment and a still-bearish technical structure. The $0.0917 50-day EMA is the immediate hurdle, while a confirmed breakout could move PI toward the $0.0990-$0.1008 resistance zone. Below the market, $0.0827 is the first major support, followed by the $0.0704 cycle low. The Protocol 28 upgrade on October 16 provides an additional near-term catalyst, but price action around the key EMA levels remains critical.
Sources & Methodology
Primary-source standard: Market-moving facts should link to original data releases, regulator notices, company filings or official project announcements whenever available. Secondary reporting is used for additional context, not as a substitute for original evidence.
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