- Pi Coin consolidates below resistance, awaiting breakout or rejection.
- Smart contract upgrade boosts Pi’s utility and global adoption potential.
- Traders await Pi’s decisive moment, with key levels to watch.
Pi Coin is trading near $0.345, showing limited movement as it consolidates inside a descending triangle pattern. Price has managed to stay above the $0.344 to $0.347 support zone, while sellers continue to defend resistance levels at $0.352 and $0.368.
Market participants are closely monitoring this range, with expectations that upcoming protocol upgrades could provide momentum.
In the four-hour chart, Pi Coin is kept within a downward trendline, which has constrained upward surges since early August. The 20,50, and 100 exponential moving averages are clustered around the $0.344 to $0.352 range.
This cluster shows just how significant the level is to near-term price direction. A prolonged movement over $0.352 may open the way to $0.368 and $0.380, whereas rejection can trigger a fresh test of $0.335 to $0.340.
The market is undecided, and this is emphasized by the momentum indicators. The relative strength index stands at 51, which is neutral. In the meantime, the MACD is flattening, indicating indecisiveness on both the buyers’ and sellers’ sides. Bollinger Bands are narrowing, indicating that there could be an upsurge in volatility in the next few sessions.
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Source: Tradingview
Smart Contract Upgrade Adds Utility Prospects
Developers recently confirmed the transition of the Pi Protocol from version 19 to version 23, adapted from Stellar’s v23 upgrade. The update allows Soroban smart contracts, which can facilitate decentralized applications and novel applications in the Pi ecosystem.
Community advocates emphasize that the change is a significant progress in long-awaited utility, which increases the mood, although the price remains within the range.
Moreover, there are debates in the community, which accentuate the possible role of the Shield of Euler. This proposed stabilization tool could help anchor valuations while integrating with Stellar’s Anchor 4.0.0 framework.
The anchor system connects Pi to more than 180 countries, improving cross-border payment opportunities. It is yet to be implemented, but this represents the network’s ambition to be adopted globally.
Trading activity remains subdued, as futures interest remains muted, and exchange flows suggest cautious positioning. The Supertrend indicator has not turned positive at $0.352, which is consistent with overhead resistance.
A flip above that would record the first bullish indication in over two weeks. Meanwhile, parabolic SAR dots are creeping towards the price at $0.339, with indications of a possible momentum swing.
Source: Tradingview
The resistance is at $0.352, followed by $0.368 and $0.380, and the support is at $0.344 and $0.335. Once selling pressure comes back, a more cushioned cushion will be at the level of $0.320.
Outlook
Pi Coin is nearing a decisive point as price presses against the descending triangle’s apex. The underlying backdrop is gaining momentum as smart contracts and wider settlement capabilities are integrated, yet it needs an uncomplicated separation at a level of over $0.352. Trading above $0.344 and breaking higher could open the path to higher targets of 0.368 and 0.380.
Failure to surpass resistance would keep the coin in consolidation with risks of revisiting $0.335 or $0.320.
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