PI stabilises at $0.1770 as core team prepares mainnet upgrade

Pi Network's PI token has held steady around $0.1770 as of Friday, gaining 4.5% from the previous day. The move comes amid preparations by the Pi Core Team (PCT) for a mainnet upgrade that enables smart contract functionality. The April 27 deadline requires all mainnet nodes to complete necessary steps to remain connected to the network. This is part of the Stellar Protocol version 22 upgrade. The team expects a brief 15-minute downtime during internal data transfer. I consider this a reasonable tradeoff for the functionality gains. PI is up 4.5% in the last 24 hours, outperforming the broader cryptocurrency market. The rally follows the PCT's announcement of the upgrade timeline. Additionally, a full upgrade to version 26 is slated for June 22, ahead of Pi2Day on June 28. On the PI/USD 4-hour chart, the token trades above $0.1770. However, the broader posture remains bearish. PI still trades below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs). Immediate resistance sits at $0.1785, corresponding to the 50-day EMA. Stronger resistance follows at $0.1865 (100-day EMA) and $0.2334 (200-day EMA). Momentum indicators are mixed at this stage, so we should watch volume and EMA retests closely before drawing firm conclusions. Traders on Coincex should monitor whether PI can close above $0.1785 on meaningful volume. A failure at that level would likely confirm continued bearish conditions.