- Pi Network remains under pressure as demand stays weak despite a recent mainnet upgrade and ongoing development progress.
- Although exchange outflows suggest easing selling pressure, technical indicators and price action still point to a bearish market structure.
Pi Network continues to trade under pressure even after a key network upgrade. The coin remains stuck in a downward trend as buyers stay on the sidelines. Despite recent development progress, market demand has not improved in a meaningful way.
The overall trend shows continued weakness. Price action remains capped below major technical levels, and sentiment has not shifted in favor of bulls.
Mainnet Upgrade Fails to Change Market Direction
The Pi Network recently completed a mainnet upgrade to Stellar Protocol version 21. This move was confirmed by the Pi Core Team as part of its broader development roadmap.
The Pi Mainnet has successfully upgraded to Protocol 21.
Node operators, please ensure your systems are up to date and stay tuned for instructions regarding the upcoming v22 upgrade.
— Pi Network (@PiCoreTeam) April 14, 2026
The upgrade is an important technical step. It prepares the network for future improvements, including the planned version 22 update. That future version is expected to introduce smart contract capabilities, which could expand real-world use cases.
However, the market reaction has been weak. Prices did not show any strong recovery following the announcement. This suggests that traders are not yet confident that the upgrade will translate into immediate utility or demand.
Selling Pressure Eases but Demand Remains Low
On-chain data from PiScan shows some improvement in exchange activity. Over the past 24 hours, there was a net outflow of about 619,617 PI tokens from centralized exchanges.
This follows a previous inflow of 1.92 million tokens recorded a day earlier. The shift toward outflows can be seen as a sign that immediate selling pressure is slowing down.
When tokens leave exchanges, it often reduces the amount available for selling. This can help stabilize prices in the short term.
However, the impact has been limited. Even with reduced selling pressure, the price has not shown a clear recovery. This confirms that demand is still too weak to drive a trend reversal.
The market remains in a cautious phase. Sellers are not fully in control, but buyers are not strong enough to take over.
Price Stays Below Key Technical Levels
From a technical perspective, Pi Network remains in a bearish structure. The token continues to trade below the 50-day Exponential Moving Average at $0.1794.
This level is acting as strong resistance. Every attempt to move higher has been rejected near this zone.
Immediate support is located around $0.1633. This level aligns with a descending trendline formed from previous market lows. It has become an important short-term area to watch.
If price breaks below this support, the next target would be around $0.1556. This level marks a previous low from February and could act as the next safety zone for buyers.
A break below that level would signal deeper weakness in the market structure.
Indicators Show Weak Momentum Conditions
The Relative Strength Index (RSI) is currently near 39. It is trending downward and moving closer to oversold conditions. This reflects weak buying strength and continued selling pressure.
The Moving Average Convergence Divergence (MACD) also shows a softening trend. Histogram bars are shrinking while signal lines move closer together. This usually indicates slowing market activity without a clear reversal signal.
Overall, indicators suggest that the market is losing downward speed but has not yet shifted direction. Price stability is still fragile.
Resistance Levels Limit Recovery Attempts
On the upside, the first major barrier is the 50-day EMA at $0.1794. This level must be broken for any short-term recovery attempt to gain strength.
If price manages to move above this area, the next resistance sits near the 100-day EMA at $0.1893. A move beyond this zone would be needed to confirm a stronger recovery phase.
Until these levels are reclaimed, upward moves are likely to remain limited. The broader structure continues to favor sellers.
Market Outlook Remains Cautious
The outlook for Pi Network remains uncertain in the short term. While network development is progressing, price action has not followed the same direction.
The mainnet upgrade shows long-term progress. However, traders are still focused on demand and liquidity in the market.
Data from PiScan suggests the same conclusion. Selling pressure may be easing, but demand remains too weak to support a sustained recovery.
For now, the market is likely to stay range-bound with a downward bias unless stronger buying interest returns.
ALSO READ: Pi Network Distributes 26.5M PI as KYC Milestone Hits 18M Users
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
About the Author
