Pi Network holds below $0.10 as Protocol 28 upgrade nears

What happened

Pi Network has moved into Protocol 28 preparations after completing Protocol 27 on Mainnet, but PI still trades below the $0.10 level. Crypto.news put the token near $0.0893 at the time of writing, while CoinGape reported it near $0.0886 on September 28 and later at $0.08854. Node operators have until October 13 to install Protocol 28 software, three days before the Mainnet activation planned for October 16.

Crypto.news said PI was down roughly 2% over 24 hours but about 2.3% higher over seven days. CoinGecko showed a seven-day range between roughly $0.085 and $0.0945. Wider market conditions were soft too: CoinGape reported the broader crypto market fell 2.72% to $2.83 trillion over 24 hours, with Bitcoin near $82,621, Ethereum around $2,639 and XRP at $1.47.

Why it matters

The $0.10 region has capped several recovery attempts, so the nearer $0.094 level comes first for any push higher. PI has traded between roughly $0.08 and $0.10 since July, and the daily chart still shows a weaker long-term structure after the token traded above $0.20 earlier this year. Protocol 28 changes network mechanics: Pi Network says it is intended to improve how the network handles delays in transaction data, lets developers upgrade groups of smart contracts together, and is designed to let applications modify stored data more safely as they develop.

Momentum readings are mixed rather than one-sided. Crypto.news reported an RSI of 47.99, just below the neutral 50, and an Aroon Oscillator at -14.29, which it described as showing bearish trend pressure remains stronger than bullish pressure without strong downside momentum. CoinGape's four-hour chart showed an RSI of 45, a MACD line of 0.00017 under its signal line of 0.00060, and a histogram of minus 0.00043.

What the data shows

• Crypto.news put PI near $0.0893, with market capitalization near $1 billion, about $6.4 million in 24-hour trading volume and 11.24 billion PI in circulating supply.
• Its 50-day moving average stood around $0.0909 and the 100-day average close to $0.0970, per Crypto.news.
• CoinGape flagged $0.087 as support, with $0.085 in focus on a four-hour close below it, and $0.092 as resistance that has capped advances.
• A move above $0.092 could open a path toward $0.095, while a hold of $0.087 would first require a reclaim of $0.09, according to CoinGape.

What is still unclear

• The two reports differ on when Pi Network announced the Protocol 27 completion and Protocol 28 Testnet testing: Crypto.news wrote Sept. 26, while CoinGape wrote September 25.
• CoinGape said the next focus is whether testing and node upgrades are completed on time, and that the upgrade's market effects are unpredictable.

Questions readers ask

Sources

1. 1 Crypto.newsPi Network price: Can PI break $0.10 before Protocol 28? · 28 Sep, 07:15 UTC
2. 2 CoinGapePi Network Price Ahead of October 16 Protocol 28 Upgrade · 28 Sep, 11:03 UTC