Pi Network jumped 10% this week, trading near $0.0872 on Wednesday after volume spiked 75% to $11.5 million. The move marks real money flowing back into the token after weeks of thin trading, with buyers testing the $0.088 to $0.090 resistance zone that's held since late July.
The 4-hour chart shows PI pressing hard against its upper Bollinger Band at $0.08824. A clean close above $0.090 would signal the first genuine breakout attempt rather than just another failed probe. Right now momentum is building, with the RSI at 61.97, but the token hasn't crossed into overbought territory yet.
What's driving the pickup is Protocol 26, a major Mainnet upgrade that node operators must complete by August 11 to stay connected. The Pi Core Team announced the deadline in late July, and the market has taken notice. This isn't just a technical requirement, either. Operators who skip the update lose their connection entirely. That deadline is creating a natural catalyst for sentiment to shift, pulling in fresh participants who see the upgrade as validation that the network is moving forward.
The recovery itself looks healthier than earlier attempts. PI reclaimed its 20-day simple moving average at $0.08513, and Chaikin Money Flow flipped positive, meaning institutional or larger players are accumulating on the dips rather than dumping. Volume backing the move matters more than the percentage gain alone. When $11.5 million in daily volume shows up, it's not a retail pump. It's real interest returning to the token after a period of neglect.
Whether this holds depends on what happens at $0.090. Break it cleanly and the next resistance sits considerably higher. Fail to hold and the token rolls back to test support around $0.085, where the 20-day average is now sitting.
This material is informational only and does not constitute financial advice or a recommendation to buy or sell any asset. Cryptocurrency markets are volatile and carry significant risk.
