Pi Network Price Falls Below $0.080 as Support Faces Test

| crypto.news
Pi Network (PI) has weakened since trading near $0.087 on Oct. 6, falling to about $0.0785 by Oct. 8 and losing the $0.080 level. The token is down roughly 10% over the week and is now testing the $0.075–$0.080 support zone, which analyst Crypto With Gopal considers important to a potential double-bottom pattern. A break below this range would undermine the setup and could bring the weekly Bollinger lower band near $0.0603 into focus. Technical signals remain bearish: PI is below its major moving averages and the weekly Bollinger midpoint at $0.10151, while the daily MACD is below zero and Supertrend resistance sits near $0.09267. The proposed double-bottom neckline is at $0.105–$0.110. Analyst targets of $0.14 and $0.21–$0.22 remain conditional on a confirmed breakout above that range; losing the $0.075–$0.080 support would weaken the bullish case. Pi Network’s Protocol 28 testnet upgrade is complete. Node operators must upgrade by Oct. 13 ahead of a planned mainnet upgrade on Oct. 16. The update is intended to improve delayed transaction-data handling and make smart-contract and application-data updates safer. While the upgrade may serve as a project catalyst, PI’s near-term price outlook depends primarily on whether it can hold support and recover resistance.
Bearish
PI’s price action has deteriorated from around $0.087 on Oct. 6 to about $0.0785 on Oct. 8, taking it below $0.080 and into a key support zone. The token remains below major moving averages, the weekly Bollinger midpoint and the daily Supertrend resistance, while MACD is negative. These conditions point to weak momentum and may encourage short-term traders to reduce exposure or sell rallies. If support at $0.075–$0.080 fails, the weekly lower Bollinger band near $0.0603 is a potential downside reference. The double-bottom thesis offers a possible longer-term recovery path, but it is unconfirmed. PI would need to hold support and then break above the $0.105–$0.110 neckline before the analyst’s $0.14 and $0.21–$0.22 targets become relevant. Protocol 28 could support confidence in the project if the scheduled node and mainnet upgrades proceed smoothly, but the technical update has not yet offset selling pressure. Overall, downside risks dominate unless PI stabilizes and recovers key resistance.