Pi Network's native token PI has climbed 2.6% over the past 24 hours to roughly $0.0934, as market participants position ahead of the anticipated Protocol 27 upgrade scheduled for Sept. 15. The move extends a gradual recovery from the Aug. 25 low of $0.0892, though PI remains more than 72% below its year-ago levels.
According to CoinGecko, PI is trading at $0.09337 at the time of writing, up 4% over the past week, 8.4% over the past two weeks, and 13.7% over the past month. The latest uptick comes as traders focus on the upcoming network upgrade, which is expected to enhance smart contract functionality and authentication processes.
Protocol 27 and ecosystem developments
Pi Network completed Protocol 26 in August and is now approaching the next planned upgrade. Development work around decentralized exchange and automated market maker infrastructure has also fueled expectations. The upgrade is seen as a catalyst for more applications to be built on the network, giving traders a specific event to watch.
In addition, Pi Network has expanded the software available through SoloHost on Pi Desktop. According to the project's official blog, OpenClaw and Atlassian MCP Server were recently added, allowing node operators to run more self-hosted applications locally. These additions follow the August release of Pi Node version 0.6.2 and earlier SoloHost improvements. While these applications do not directly create demand for PI, they broaden the functionality available to those running Pi infrastructure.
OpenPay has also restored its Cash-In feature, adding another fiat on-ramp to the Pi-related payments ecosystem. However, payments still require PI to be converted into OUSD, which limits the feature's direct impact on PI demand.
Price action and technical levels
PI's 4-hour chart has been forming higher lows since the Aug. 23 pullback, with the latest candles holding around $0.0935. Price has moved back above the session VWAP at $0.09347, with the upper and lower VWAP bands near $0.09388 and $0.09305. Holding above the VWAP keeps $0.0930-$0.0935 as the immediate support zone.
A 4-hour close above $0.0939 would bring the recent $0.095-$0.096 area back into play. The Awesome Oscillator has climbed to roughly 0.00160, with its latest histogram bars green and rising above zero, indicating short-term momentum has turned positive again.
On the daily chart, PI has been building a base since dropping to roughly $0.071 in July. The token has produced a series of higher lows, including a recent swing low at $0.08304, but remains below the Supertrend level at $0.09891. A daily close above $0.0989 would flip the Supertrend from resistance and also take PI through the psychological $0.10 level.
Fibonacci extensions drawn from the $0.08304 swing low place the 0.236 level at $0.09198, which PI has already moved above. The next levels sit at $0.09751 (0.382), $0.10199 (0.5), and $0.10646 (0.618). A sustained break above $0.0989 would therefore bring $0.102 and $0.1065 into range. If PI clears those, the 0.786 extension sits at $0.11282, followed by $0.12093 and the 1.618 extension at $0.14435.
On the downside, failure to hold above the 0.236 Fibonacci level at $0.09198 would put $0.090 back under pressure. A break below that area could send PI towards the $0.08304 swing low, which remains the main invalidation level for the higher-low structure formed since July.
For broader market context, traders are also watching Robinhood's recent upgrade and Tesla's Cybercab event as sentiment shifts across risk assets.
This article is for informational purposes only and does not constitute financial advice.
