Pi Network continues to show resilience despite recent market struggles. The altcoin is holding just above its all-time low, keeping investor hopes alive for a potential recovery.
While sentiment has been fading in recent weeks, the announcement of new upgrades could provide a turning point for Pi Coin.
Pi Network Prepares For Upgrades
Investor sentiment around Pi Network is improving as anticipation builds for upcoming protocol changes. The upgrade, which will transition the network from v19 to v23, includes several enhancements aimed at strengthening security and functionality. This has sparked optimism among holders who have been waiting for signs of stability.
SponsoredA key feature of the upgrade is the integration of the KYC authority directly into the protocol. This step is expected to streamline compliance and create more trust in the ecosystem. If successful, it could boost demand for Pi Coin, giving the token an opportunity to regain traction in the broader crypto market.
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Despite the optimism, macro momentum indicators present a cautious picture. The Chaikin Money Flow (CMF) currently shows weak inflows, highlighting the lack of strong investor support. This divergence suggests that while sentiment may be shifting, actual capital commitment into Pi Coin remains limited.
Such conditions could prevent significant upward movement in the short term. Without stronger inflows, Pi Network’s price may continue to struggle despite the positive developments.
PI Price Is Awaiting A Trigger.
At the time of writing, Pi Coin trades at $0.345, holding above its crucial $0.344 support level. This line has acted as a foundation for weeks, helping the altcoin avoid setting new lows despite ongoing volatility.
Given the mixed cues from investors, Pi Coin is likely to remain rangebound. The price may hover between $0.344 and $0.360 until stronger momentum develops. Sideways movement could dominate trading as investors assess the impact of the upcoming upgrade.
If market conditions worsen, Pi Coin risks slipping through $0.334 support. A failure to hold this level could drag the token down to $0.322, matching or even forming a new all-time low, and invalidating any short-term bullish outlook.
