According to reports from AMBCrypto, Pi Network [PI] token experienced a 6.3% gain in the past 24 hours, significantly outperforming the broader crypto market. This performance contrasted sharply with Bitcoin's 1.09% decline, highlighting PI's resilience amid challenging market conditions. The crypto market as a whole witnessed a 1% decrease in its market capitalization, making PI's gains particularly notable. As of April 28, Pi Network trades at $0.1882, representing a 2.73% increase and marking a significant milestone as the token has broken into the Bull Market Support Band for the first time since its June 2025 high near $0.55.
As reported by AMBCrypto, the technical indicators on the 1-day chart signaled a shift toward buying pressure with the CMF climbing back above +0.05 to indicate sizeable capital inflows. The MACD advanced toward the zero line and was approaching a bullish crossover, indicating changing buyer pressure and momentum. However, the bearish long-term trend has not been overthrown, with the $0.2917 resistance level continuing to rebuff bullish efforts. A daily session close above $0.299 is needed to flip the structure bullishly. The latest technical analysis from CoinEdition confirms that the Supertrend at $0.1670 is now confirmed bullish, with a 4-hour double-bottom approaching the $0.1900 neckline and a near-term technical target of $0.2045.
According to CoinEdition, Pi Network has completed its mandatory Protocol 22 upgrade on April 27 without disruption, marking a significant milestone in the network's development. The protocol upgrade has now accelerated the smart contracts/token launch roadmap, with Protocol 23 smart contract deployment now expected in May. This development represents a major step forward in the network's evolution toward full smart contract functionality and token launch capabilities. The upgrade process has been completed smoothly, with most holders not selling into the upgrade, suggesting limited immediate sell pressure and stronger adoption/mainnet security.
As reported by CoinEdition, over 10 billion PI tokens have migrated to mainnet while approximately 6 billion remain locked, indicating strong network adoption and user confidence in the mainnet transition. The migration pattern suggests that most holders are not selling into the upgrade, which typically indicates strong network confidence and adoption. This high retention rate during the upgrade process suggests that the network has built substantial trust among its user base and that the mainnet transition is viewed as a positive development rather than a selling opportunity.
