Pi Network Price Forecast: Tentative bullish reversal signal gains support from PI updates

• $0.0794 is the declining trendline breakout level under test. Pi Network edges up on Friday, signalling a possible bullish reversal.
• Developer tools, token tracking, AI-assisted app deployment and identity verification upgrades broaden the utility of the Pi Network ecosystem.
• Renewed upside momentum signals point to a potential bullish reversal in PI’s technical outlook.

$0.0794 marks the long-term resistance trendline Pi Network (PI) is testing on Friday. Early signs of recovery follow the announcement of several technical updates designed to broaden the utility of its ecosystem. Easing selling pressure suggests a possible bullish reversal for the PI token.

Pi Network Unveils Ecosystem Updates

A Thursday blog post from Pi Network outlined technical upgrades to its developer tools and products. The changes cover a redesigned developer Portal flow interface, historical price tracking for launchpad tokens in Pi BlockExplorer and AI-assisted app packaging through SoloHost. PiVerify is also extending its identity verification services to third-party businesses.

$0.0794 Resistance: PI Recovery in Focus

$0.0783 is Pi Network’s price at the time of writing on Friday. Near-term upside remains capped by a resistance trendline around $0.0794, linking the June 20 and August 22 highs. Adding to this overhead resistance near the descending trendline is the 50-day Exponential Moving Average (EMA) at $0.0833.

On the daily chart, a Relative Strength Index (RSI) reading of around 43 indicates mild rather than extreme selling pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) line sits marginally above its signal line in negative territory, pointing to tentative attempts to stabilise.

A break through the resistance trendline around $0.0794 is the first upside hurdle, ahead of the 50-day EMA at $0.0833. Together, these levels define a nearby supply zone. Further resistance lies at 0.1049, the 50% retracement of the decline from $0.1392 to $0.0704, followed by the 200-day EMA at $0.1124. Beyond these levels, the cycle high around $0.1394 presents another barrier.

If bearish pressure continues, buyers could try to halt further declines at the Fibonacci anchor near $0.0704. This is the only notable structural support on the downside.

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