Pi Network Price Tests $0.08-$0.10 Ahead of Protocol 28
Pi Network price remains range-bound as traders await the Protocol 28 Mainnet upgrade. PI rose about 1.5% in an earlier 24-hour period to around $0.0918, but later traded near $0.0888 on October 3. Its seven-day range was approximately $0.0861-$0.0935, while reported daily volume fell from about $6.1 million to $5.1 million and market capitalisation remained near $1 billion.
Technical indicators point to consolidation rather than a confirmed breakout. The main trading range is $0.08-$0.10. A sustained move above $0.10, supported by stronger spot volume and several daily closes, could open a possible test of $0.115. A break below $0.08 could expose PI to its recorded low near $0.07059. RSI was neutral at 52.64, and an analyst identified a symmetrical triangle pattern.
Protocol 28 completed Testnet deployment. Mainnet nodes must upgrade by October 13, ahead of planned activation on October 16. The upgrade should improve transaction-data handling and make grouped smart-contract updates safer. However, a successful upgrade alone may not create demand for PI. Traders should monitor new applications, recurring payments and sustained user activity after launch.
Pi Network also reported progress on access issues. More than 417,000 users flagged for possible duplicate accounts may continue KYC after further checks, while a separate fix targets about 497,000 Fast-Track wallets unable to claim migrated balances because they lacked PI for gas fees. These figures do not confirm completed migrations or immediate selling, but newly transferable coins could increase exchange supply.
A partnership with Open Standard is exploring OUSD stablecoin rewards and broader ecosystem utility. The agreement remains exploratory, with no confirmed launch date or evidence that it will directly generate PI demand. For traders, volume, exchange deposits, migration data, application usage and PI’s performance against Bitcoin and the wider market are key signals.
Neutral
The expected impact on PI is neutral because the upgrade presents both potential catalysts and significant uncertainties. In the short term, Protocol 28 could improve sentiment and encourage speculative buying, particularly if PI breaks above the $0.10 resistance level with stronger volume. The symmetrical triangle and neutral RSI, however, indicate that momentum has not yet confirmed a bullish trend. Previous failures to hold above $0.10 also raise the risk of another rejection.
A move below $0.08 could intensify selling and bring PI closer to its recorded low near $0.07059. Progress on KYC and wallet-access issues may eventually increase the number of transferable coins, potentially adding exchange supply, although the reported cases do not prove that selling will occur. The Open Standard partnership and OUSD exploration may support long-term ecosystem sentiment, but there is no confirmed launch or evidence of direct PI demand. Over the longer term, sustained applications, recurring payments and user activity would be needed to produce a durable price effect. Until those signals appear, traders are likely to keep PI range-bound and event-sensitive.