Pi Network at $0.33 Support Amid Triple-Bottom Pattern and Upcoming Upgrade

Pi Network is at a pivotal moment in its development, with technical indicators suggesting a potential shift from a prolonged bearish trend. Market participants are closely watching the $0.33 support level, a critical price point that could determine whether the token stabilizes or faces another decline. Analysts highlight the formation of a triple-bottom pattern—a classic technical signal that suggests a reversal from downward movement to an upward trend. However, uncertainty remains high as moving averages continue to exert downward pressure and on-chain activity has yet to translate into significant buying interest [1].

Despite these challenges, the Pi Network ecosystem shows signs of life. A recent hackathon attracted over 2,100 developers, signaling continued interest and innovation within the community. Additionally, Ulu Ventures, an early investor in Pi, has added the token to its portfolio, which may bolster institutional confidence. These developments could eventually support price appreciation, though not necessarily in the short term [1].

A key upcoming event is the Stellar Protocol 23 upgrade scheduled for September, which is expected to enhance Pi’s infrastructure by introducing features such as Soroban smart contracts, faster transaction speeds, and deeper Web3 integration. While these upgrades are seen as positive for long-term scalability and utility, analysts caution that without substantial listings or increased adoption, price action may remain subdued [1].

Technical analysis suggests three potential scenarios for Pi’s price movement. In a bullish case, a successful defense of the $0.33 level could lead to a breakout above the descending wedge and point of control, potentially pushing the price toward $0.50 or even $0.85 if volume surges and accumulation continues. The base case envisions consolidation between $0.33 and $0.40, pending external catalysts such as new exchange listings or a broader positive shift in the crypto market. In the bear case, a breakdown below $0.33 could expose Pi to further declines, potentially testing support near $0.30 or lower, especially if supply unlocks continue to put pressure on the market [1].

Expert forecasts vary. Cryptopolitan projects a modest rise to $0.472 by 2025, while Brave New Coin speculates on a triple-bottom breakout with a potential target of $1.67. IndiaTimes offers a base case of $0.55 and a bullish scenario reaching as high as $1.30 by 2025. These projections underscore the speculative nature of Pi’s price trajectory and the influence of both technical and fundamental factors [1].

Overall, Pi Network remains in a consolidation phase, with its next move largely dependent on whether the $0.33 level holds as support. If accumulation builds and volume increases, a reversal could be on the horizon. Investors and traders are advised to monitor both technical signals and ecosystem developments as key drivers of Pi’s price direction [1].

Source: [1] Pi Network Price Will $0.33 Hold the Line? (https://thebitjournal.com/pi-network-price-will-0-33-hold-the-line/)