Key Highlights
- Pi Network dropped after hitting the 200-day moving average, showing that level is a strong resistance.
- The token recently surged from $0.166 to near $0.19, driven by upgrades and growing investor interest.
- Future upgrades and events are building attention, but the price must break above key levels to keep rising.
Pi coin, the native token of the Pi Network, slipped 1.47% today after testing its 200-day moving average. At the time of writing, the token is trading around $0.190, despite reaching a high of $0.198.
The decline comes amid a broader market pause, with prices easing slightly after a short-term surge.
Strong week before the pullback
Pi was having a blast before this pullback. In the last seven days, Pi went from a weekly low near $0.166 to about $0.189 before pushing further up to $0.19.
At the same time, the market value surged close to $2 billion as investors renewed their interest in the token. This climb places it among the top 50 cryptocurrencies by market cap, according to data from CoinMarketCap.
For most of April, the price had been moving slowly between $0.16 and $0.18, so this jump represents a breakout. But when the price reached the 200-day moving average, it could not break above it. Instead, it slowed down and started falling again.
Ecosystem development driving sentiment
This price action did not happen by chance. The initial surge came shortly after the network completed its Protocol 22.1 mainnet upgrade on April 27. The upgrade was designed to improve how fast transactions go through in the network and how well it can handle more users at the same time. It is seen as an important step as the project prepares for bigger features in the near future.
At the same time, attention is focused on the network’s upcoming Protocol 23 upgrade, which is expected on May 11. This upgrade is important because it is set to introduce smart contracts, allowing developers to build applications directly on the network instead of just using it for basic transfers.
In addition, Pi Network’s participation in Consensus 2026, scheduled for May 5–7 in Miami, has increased visibility. Co-founders Nicolas Kokkalis and Chengdiao Fan are expected to attend, contributing to heightened online interest.
Supply conditions have also supported the recent price movement. According to data for Piscan, fewer tokens were unlocked toward the end of April, which reduced selling pressure. Over 10 billion PI tokens have already been moved to the mainnet, while about 6 billion remain locked, limiting how much can be sold quickly.
With all this sentiment suggesting an upward push, this pullback could be a possible easing up in the market following the strong bullish momentum.
Pi token hanging at a resistance level
However, looking at the daily chart, the pullback is happening at a resistance level that sits just around $0.200. This level has caused reactions to the market a couple of times in the past, so this is a crucial zone for PI.
Exponential moving average indicators show that the token still has some short-term strength. It is trading above its 10-day, 20-day, 50-day, and 100-day moving averages, which often reflects ongoing buying interest.
However, the 200-day moving average remains a barrier, and aligning with this resistance level could lead to a challenge for the price to push higher. Moreover, the Relative Strength Index (RSI) on the daily is at 60, meaning the buyers are in control but still have more space to keep the bullish momentum as the price is not yet at the overbought level.
If the price can break above it and stay there, it could start another surge, pushing the price by over 20% to $2. For a longer outlook, there’s a possible target at $0.28, where the next higher time frame resistance level sits.
However, failure to hold above this current resistance level could lead to another drop to $0.16. At the moment, the token is still recovering from its February 2026 low of $0.1312 and remains far below its peak of $2.99 reached in February 2025.
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