Pi Network Price Eyes $0.10 Ahead of Protocol 28 Upgrade

Pi Network price remained under pressure on Wednesday, trading near $0.079 as broader cryptocurrency markets struggled with stronger-than-expected U.S. inflation data. Despite bearish market conditions, investors are watching the upcoming Protocol 28 upgrade, which could provide momentum for a potential PI coin recovery toward $0.10.

According to CoinGecko, Bitcoin traded around $82,300, Ethereum hovered near $2,440, and XRP stood at approximately $1.35. The cryptocurrency market faced additional selling pressure after U.S. consumer price index (CPI) inflation exceeded expectations, pushing the U.S. dollar index to an 18-month high.

The hotter inflation figures strengthened expectations that the Federal Reserve could maintain a more hawkish monetary policy stance. Higher interest rates and a stronger dollar typically reduce investor appetite for riskier assets, including cryptocurrencies.

However, Pi Network's scheduled Protocol 28 mainnet upgrade on October 16 could offer a potential catalyst for renewed buying interest.

The Pi Network team previously instructed node operators to update their software by October 13 in preparation for the transition. The upgrade aims to improve transaction data handling, strengthen smart contract functionality, and allow developers to implement multiple contract updates more efficiently.

These improvements could support future decentralized application development and strengthen the Pi Network ecosystem. Nevertheless, any sustained price recovery will likely depend on successful implementation and stronger investor demand.

On October 14, PI coin traded around $0.07857, reflecting a 1.06% decline. Technical indicators continued to signal weakness, with the Relative Strength Index (RSI) at 37.10, indicating bearish momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) stood near -0.00078, below its signal line of approximately -0.00071, suggesting that selling pressure remained dominant.

Immediate support for Pi Network price sits around $0.077, while $0.08 represents the first important recovery level.

A sustained breakout above $0.08 could encourage buyers to target $0.09, representing approximately 14% upside from $0.07857. Clearing that resistance would bring the psychological $0.10 target into focus, implying potential gains of roughly 27%.

Although the Protocol 28 upgrade may improve market sentiment, Pi Network must maintain crucial support levels and attract stronger buying volume to confirm a bullish reversal. Failure to hold $0.077 could expose PI to further downside before a meaningful recovery develops.