Pi Network Price Rebounds, Will Traders Target $0.40?

Pi Network is moving closer to its much-awaited mainnet launch, and the excitement among its community is reaching fresh highs. The project recently completed its Testnet1 upgrade to protocol version 23. With Testnet2 and the mainnet rollout expected soon, attention has turned to how these updates may shape the Pi coin price.

Talking more about which, the upgrade aligns Pi with Stellar’s v23 transition, that ensures smooth balance mapping into mainnet. On the ecosystem front, Pi is the gold sponsor at TOKEN2049 Singapore, where co-founder Dr. Chengdiao Fan will speak. Alongside that, the launch of PiOnline, a DeFi farming game on the Pi Browser, shows the project’s efforts.

These milestones are not only fueling curiosity around Pi’s progress but also sparking renewed interest in the Pi Network price USD . And yes, as per our routine drill, I will take you through the price targets that you cannot miss out on!!

Top Reasons Behind Pi Coin Price Surge

• Protocol upgrade hype: Community yapping about smart contract functionality and Linux node support is feeding bullish sentiment. At the same time, the upcoming unlock of 165M PI tokens is another headwind.
  
• Partnership momentum: Pi’s September tie-up with AI firm OpenMind reinforced its vision of Web3 integration.
  
• Ecosystem growth: From TOKEN2049 visibility to PiOnline’s launch, Pi is steadily building credibility and use cases.

Pi Price Analysis

At the present time, as I write this analysis, Pi Coin is trading across exchanges at $0.3597, up 2.68% over 24 hours. Its market valuation stands at a rather tough $2.9 billion, while the overnight token trade jumped by a decent 14% to $48.33 million.

From a technical view, PI has broken above its 30-day SMA at $0.3537, supported by a bullish MACD crossover. The RSI has climbed from 40 to 53, signaling bears walking out. This rebound came as PI retested Fibonacci support near $0.344, where buyers stepped in strongly.

The spike in trading activity above its 7-day average confirms this renewed demand. Still, Pi faces stiff resistance at $0.382. A daily close above that level could pave the way for a move toward $0.40, while failure may see PI retreat toward $0.344 or even $0.335.

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