Pi Network mainnet v21 nears smart contracts as PI slides
Pi Network has completed mainnet v21, bringing the project closer to full smart-contract capability. The upgrade prioritises performance improvements and asks node operators to update to the latest software. Pi also launched a Testnet RPC server, helping developers build, test, and deploy decentralised apps ahead of broader rollout, with smoother wallet and analytics integrations.
However, PI price action remains weak. After a failed attempt to push above $0.167, PI is trading around $0.165. Since late March, Pi Network has fallen about 15%, forming a descending triangle on the daily chart and breaking below the $0.166 support line. MACD and RSI are pointing down, suggesting selling pressure is still dominant. The bearish scenario in the article implies PI could test the Feb. 11 low near $0.131 if downside momentum continues, with additional risk from upcoming “massive token unlocks”.
Bearish
The news is a technical positive for Pi Network (mainnet v21 and Testnet RPC moving it toward smart contracts), but the market reaction described in both articles is negative for PI. The latest piece adds that PI is breaking below $0.166 after forming a descending triangle, while MACD and RSI remain downward—signals traders typically associate with continued selling pressure. In the short term, this suggests rallies may fail and price could drift lower. In the longer view, if “massive token unlocks” arrive as flagged, that could reinforce supply overhang and keep sentiment cautious. Even though broader crypto (BTC/ETH) is rising, PI’s relative weakness and bearish technical structure tilt the expected impact on PI toward downside rather than a sustained rebound.