Pi Network’s native token extended its decline on Monday after failing to overcome resistance at $0.0961. The token slipped below the psychological $0.10 threshold and later breached the $0.09 support, hitting an intraday low of $0.084 before recovering slightly to $0.086. The drop came as traders monitored the project’s second-to-last protocol upgrade deadline.
The broader crypto market showed early signs of recovery, with the Fear & Greed Index rising to 40 from fear territory. Despite this, PI remains trapped in a bearish structure. Derivatives data indicated stable but limited interest—open interest held above $9 million for six straight sessions, signaling traders maintained positions, yet total value remains dwarfed by larger-cap assets.
Technical indicators offered mixed signals. The MACD line crossed above its signal line, pointing to fading downside momentum, while the RSI hovered near 45, approaching the neutral 50 level. However, PI must first clear the 127.2% Fibonacci extension at $0.0961 to target $0.10. A failure to hold immediate support at $0.0950 could send the token toward its record low of $0.07.
Meanwhile, Pi Network’s Core Team had set an August 11 deadline for Mainnet Nodes to upgrade to version 26—the penultimate step before the final v27 migration. Failure to update risks disconnection from the network. The upgrade, part of a series of eight migrations this year, may go live without a formal announcement, adding uncertainty to an already cautious market.
