Pi Network Forecast: PI Token Stays Under Bearish Pressure Despite Upgrades to Network Access and Security

• After successive daily declines of 1.78% and 2.33%, respectively, Pi Network steadies around $0.075 on Monday.
• Remote access and security for local AI apps are the focus as Pi Network launches desktop version 0.6.4.
• A record-low weekly close leaves the PI token’s technical outlook bearish as downward pressure persists.

Two successive daily losses of roughly 2% have left Pi Network (PI) with its lowest-ever weekly close, although the token is steady around $0.075 on Monday. Thursday’s release of Pi Network desktop version 0.6.4 focused on enhancing remote access and security for local AI apps. The technical picture nevertheless remains bearish, with downward pressure intensifying.

Pi Desktop launches version 0.6.4

Improved remote access and stronger security for SoloHost applications are central to desktop version 0.6.4, whose release was announced by Pi Core Team. This includes the ability to host local AI apps through Pi Browser without configuring home routers. The release comes after the recent network upgrade to Protocol version 28 on 16 October, which targets transaction data delays and aims to simplify smart contract maintenance for developers.

Technical outlook: Pi Network remains under pressure near record lows

At $0.0756 at the time of writing on Monday, Pi Network retains a bearish short-term bias. The PI token’s decline continues well beneath a long-term resistance trendline near $0.0811, drawn through the highs of 20 June and 22 August. The broader technical trend remains under pressure, with PI trading below both the 50-day Exponential Moving Average (EMA) at $0.0844 and the 200-day EMA at $0.1195.

Continued selling pressure is suggested by two weak momentum signals: the Relative Strength Index (RSI) is close to 33 in oversold territory, while the Moving Average Convergence Divergence (MACD) line sits just below zero.

Should the current $0.0756 level fail to hold, buyers seeking to buy the dip could try to stem the decline at immediate support around the $0.0704 swing low.

On the upside, a nearby cluster of supply begins with resistance around $0.0811, where the trendline was broken. Beyond that lie the 50-day EMA at $0.0844 and the 23.6% Fibonacci retracement at $0.0867, calculated from $0.1394 to $0.0704.

(The technical analysis of this story was written with the help of an AI tool. Know more.)