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Pi Network price traded around $0.0886 on September 28 as investors looked ahead to the Protocol 28 Mainnet upgrade scheduled for October 16. PI remained below the key $0.10 level amid broader weakness across the cryptocurrency market.
The global crypto market capitalization fell 2.72% over 24 hours to $2.83 trillion as traders took profits and leveraged positions were unwound. Bitcoin traded near $82,621, Ethereum hovered around $2,639, while XRP stood at approximately $1.47.
Pi Network began testing Protocol 28 after completing its Protocol 27 Mainnet upgrade, according to a September 25 update. Protocol 28 is currently running on Testnet, with node operators required to install the new software by October 13. Mainnet activation is planned three days later on October 16.
The upgrade is designed to improve the network’s handling of transaction-data delays. It will also support post-deployment upgrades involving groups of smart contracts and introduce more secure methods for modifying application data, potentially giving developers greater flexibility when building and maintaining services on Pi Network.
Despite the technical progress, Pi Network price has struggled to generate sustained bullish momentum. PI has largely traded between $0.08 and $0.10 since July, making completion of Protocol 28 testing and the upcoming Mainnet rollout important events for traders to watch.
PI was quoted at about $0.08854 on September 28 after its latest recovery stalled below $0.092 resistance. The token previously rebounded from a September low near $0.08 but repeatedly failed to maintain moves above $0.09.
The $0.087 level now represents important near-term support. A four-hour close below that threshold could expose $0.085, followed by the previous low around $0.08. If buyers defend $0.087, PI would need to reclaim $0.09 before challenging $0.092. A breakout above $0.092 could bring $0.095 into focus.
Technical indicators remain subdued. The four-hour RSI stood at 45, below the neutral 50 mark. Meanwhile, the MACD line at 0.00017 remained below its 0.00060 signal line, while the negative 0.00043 histogram indicated continued weakness in short-term momentum.
