Could Pi Network price reach $0.23 as bullish SMA crossover approaches?
Pi Network price rallied for the fourth consecutive day as Pi Network revealed progress towards the project’s technology roadmap ahead of Consensus 2026.
Summary
- Pi Network’s price rose nearly 7% to $0.199, extending weekly gains to nearly 20% as user authentication and mainnet migration work progressed.
- More than 1 million verified users have completed 526 million KYC verification tasks, supporting migration to the mainnet and enabling future token transfers on exchanges.
- The technical indicators show the intensity of the intensity, with the price close to the Fibonacci key resistance at $0.195; the explosion may refer to $0.234, while $0.180 remains the main support.
According to data from crypto.news, the price of Pi Network (PI) rose nearly 7% to a 5-week high of $0.199 on Wednesday, extending its gains over the past week to nearly 20%.
The price of the Pi Network has been strengthened as the Pi Network continues to put millions of users through the verification and migration processes so that the ecosystem can reach the critical mass required for a stable open network.
In the X post on Wednesday, the Pi team revealed that more than 1 million verified users have completed KYC verification activities for more than 526 million people to facilitate the migration of the mainnet to the wider community, which will eventually prepare the network for the widespread use of the Pi token in foreign exchange.
These transactions were part of Pi Network’s native KYC system, where verifiers were paid directly in Pi tokens.
The integration of AI-powered verification techniques with a group of verified users shows the maturity of the Pi Network technology ahead of its founders’ speech at the Consensus 2026 event to rebuild retail confidence. At the event, a team presentation could turn a brand into a unique proprietary layer for the AI era.
The price of Pi Network also received support from the growing interest of investors around the mandatory development of the Protocol 22 mainnet, which reached its deadline on April 27. Although the release has not been fully confirmed for all the operator nodes, attention has already shifted to the next stage, which is expected to open up the advanced capabilities of the blockchain.
The update will bring the network closer to the upcoming development of Protocol 23, which is expected to introduce full smart contract support for decentralized applications and complete the transition to the latest Stellar Core standards.
Such technical measures are considered the last hurdles before the network reaches the long-awaited maturity and becomes a fully functional on-chain economy.
Pi Network price analysis
On the daily chart, Pi Network price has crossed above the 20-day, 50-day, and 100-day SMA and is lying close to the 200-day SMA at press time. In addition to this, the 20-day SMA is close to a bullish crossover with the 50-day SMA, a major sign that short-term momentum is building rapidly and could lead to a further uptrend.
The Supertrend indicator has turned green for the first time since mid-March, meaning the overall market has changed from bearish to bullish, indicating a potential buying opportunity for swing traders.
Meanwhile, Pi Network price is near the 61.8% Fibonacci retracement level at $0.195. This level is widely considered to be one of the most critical areas for a bullish reversal, where a break above it could push prices up to $0.234, aligned with a 38.2% retracement level.
Conversely, a drop below $0.180 would invalidate this move and lead to a retest of the 78.6% Fibonacci retracement level at $0.166.
