Mainnet Upgrade Imminent… Will Pi Network Break Through $0.1748 Resistance and Surge?

▲ Pi Coin (PI) / ChatGPT-generated image ©

Amid rising expectations and controversy over transparency ahead of its Mainnet migration, Pi Network (PI) is struggling to secure additional upward momentum as it faces a key technical resistance level.

According to investment media outlet FXStreet on February 26 (local time), Pi Network was trading around $0.1700, building on the previous day’s 3% gain as it attempts to extend its recent upward trend. However, the 50-day Exponential Moving Average (EMA) at $0.1748 is acting as a strong resistance barrier, keeping the overall short-term outlook within a shallow bearish trend.

Behind the price stagnation lies growing dissatisfaction and skepticism within the community. The Pi Network core team has set March 1 as the Phase 2 deadline for the Mainnet upgrade to Protocol Version 19.9, as part of its goal to upgrade to Stellar Consensus Protocol Version 23 by June 2026. Despite encouraging node upgrades, criticism persists regarding the transparency of token migration from Testnet to Mainnet, while ongoing Know Your Customer (KYC) verification issues continue to weigh heavily on token holders.

Technical indicators also suggest weakening bullish momentum. On the daily chart, the Moving Average Convergence Divergence (MACD) remains above the signal line, but the positive histogram is gradually fading, indicating cooling upward momentum. The Relative Strength Index (RSI) stands at 51, hovering near the midpoint, reflecting a neutral stance without a clear direction toward either buying or selling pressure.

The short-term outlook hinges on whether the price can break above the 50-day EMA. If Pi Network successfully surpasses $0.1748, it could attempt a recovery toward the first resistance level near $0.1919, which aligns with a descending resistance trendline and the October low.

Conversely, if downward pressure intensifies, the price may test initial support at $0.1533. Should this level fail, there is a risk of a further decline toward $0.1300, where buying interest last maintained market control.

*Disclaimer: This article is provided for investment reference only, and no responsibility is assumed for any investment losses resulting from its use. The content should be interpreted solely for informational purposes.*