Will Pi Network exceed $0.10? Expectations for PI breakthrough with new update?

▲ Pi Network/Source: X ©

Pi Network (PI) has released an update that strengthens the app search and management functions of its mainnet ecosystem, showing a slight increase and maintaining above $0.095. While the short-term trend indicates moderate strength, breaking through the psychological resistance level of $0.10 is considered crucial for continued upward movement.

According to investment specialized media FXStreet on September 11 (local time), Pi Network traded around $0.0960 on Friday, staying above the 50-day Exponential Moving Average (EMA) of $0.0942. The Pi Core Team launched Pi Desktop 0.6.3, previously known as Pi Node version, improving app search and management, stability, and developer tools.

The core of this update is a ranking system based on the number of times SoloHost apps are launched. This allows users to more easily find actively used community apps. The Core Team also unveiled a new SoloHost repository that supports app creation using artificial intelligence (AI) agents, and added a 'My Apps' feature to help developers easily find and manage their apps. Several bug fixes were also included.

The Core Team explained that this update focuses on expanding the utility of Pi Desktop and Node beyond blockchain infrastructure. The aim is to increase ways for users to utilize self-hosted apps on their computers and provide developers with additional tools to build and service apps on SoloHost.

Technically, PI is showing a slightly bullish trend from a neutral position. The price is consolidating above the 20-day EMA of $0.0935 and the 50-day EMA of $0.0942, but remains below the 100-day EMA of $0.1058, and still at a considerable distance from the 200-day EMA of $0.1425. The daily Relative Strength Index (RSI) is 58, indicating moderate upward momentum. To continue the upward trend, it must clearly break through the resistance zone formed by the psychological resistance level of $0.1000 and the 100-day EMA of $0.1058.

If this zone is surpassed, the 78.6% Fibonacci retracement level of $0.1168, based on the decline from $0.1341 to $0.0703, is presented as the next upside target, followed by the high of $0.1341. Conversely, in case of a decline, the 50-day EMA of $0.0942 and the 20-day EMA of $0.0935 are the primary support levels. If this zone also breaks, the 23.6% Fibonacci retracement level of $0.0818 will be exposed, and in case of further decline, the area around $0.0703 is considered a major support zone.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*