- Protocol 22 boosted scalability of the Pi Network ahead of smart contracts in May.
- Pi should break $0.190 to target $0.2045 and $0.220.
- The key support at $0.1832 remains crucial for bullish momentum.
The Pi Network (PI) token was trading near $0.1893 on April 28 after rising nearly 5.8% in 24 hours and more than 10% over the past week, reflecting stronger market interest as the network moves through a critical development phase.
The recent rebound is notable considering the asset’s all-time low of $0.1312 in February 2026, while still well below its February 2025 peak of $2.99.
Upgrading Protocol 22 for the mainnet
It is worth noting that the price increase comes as Pi Network completes its work Upgrading Protocol 22 for the mainnet On April 27, a major infrastructure update was made designed to improve scalability, transaction throughput, and overall network readiness for decentralized applications.
Protocol 22 is widely viewed as a foundational step ahead of the expected rollout of Protocol 23 in May, which is expected to introduce smart contracts and expand the Pi Network ecosystem through broader decentralized finance (DeFi) and cross-chain functionality.
More than 10 billion PI tokens have already been migrated to the Mainnet, with approximately 6 billion of them remaining locked.
This large locked-in supply continues to limit immediate selling pressure while also supporting market interest in future facility expansion.
For many traders, the upcoming Protocol 23 release is even more important because smart contract functionality could significantly expand practical use cases for PI beyond peer-to-peer transfers by allowing developers to build decentralized applications directly on the network.
Technical indicators show improving momentum
Current technical analysis indicates that Pi is trying to form a double bottom breakout pattern, with the neckline near $0.190.
A confirmed move above this level could push the price towards $0.2045, while a stronger continuation could open the way towards $0.220.
according to Aggregated market indicesThe majority of technical indicators indicate that short-term momentum is positive.
The moving averages are particularly supportive, with the index currently above the 10-day, 20-day, 50-day and 100-day EMAs, strengthening its strength in the short term.
However, the token is still trading below its 200-day moving average, suggesting that broader overall resistance remains.
The 14-day RSI stands at 63.96, putting Coin PI in the neutral territory without indicating immediate overbought conditions.
On the weekly time frame, the RSI is close to 36.01, indicating that the price index may still be recovering from previous oversold conditions.
Pi Network Price Forecast
Considering the price targets that traders should consider going forward, immediate support is located at $0.1832.
A drop below this level could weaken short-term bullish momentum and expose Pi Network (PI) to downside pressure towards $0.1670, with deeper losses potentially reaching $0.1322.
On the upside, the first major resistance is located at $0.1884. A break above this level would enhance the potential for a breakout and could send PI towards $0.1926.
If the bulls succeed in clearing the broader neckline at $0.190, the next major target becomes $0.2045. A sustained break above this level could extend gains towards $0.220.
Looking ahead, the broader outlook for 2026 places the potential trading range for PI between $0.1121 and $0.5246, depending largely on successful expansion of the ecosystem, adoption of smart contracts, and broader cryptocurrency market conditions.
