Pi Coin (PI), countdown to $0.09 on protocol upgrade news... "30% rally expected"

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Pi Coin (PI) has opened up a 30% upside potential based on technical analysis ahead of its Mainnet Protocol 26 upgrade.

According to Coingape on August 6 (local time), Pi Coin rose over 10% this week. Its 24-hour trading volume also increased by approximately 75% to $11.5 million. The market is paying attention to the August 11 deadline for the Protocol 26 upgrade.

Pi Network stated that Mainnet node operators must complete the upgrade before the deadline. Failure to complete the upgrade will result in the inability to maintain network connectivity. Pi Network has recently completed 8 upgrades and plans to continue improving functionalities through Protocols 26 and 27.

Fabric Foundation announced that Pi Network has joined as a payment partner for RoboPay. Users can pay for robotic services such as delivery, inspection, security patrols, and humanoid support using Pi Coin. Pi Coin rose approximately 4% after the announcement.

In technical analysis, breaking past $0.09 was presented as a key condition. If this price is secured as a support level, it could rise to $0.11453, passing through $0.1. The expected increase is approximately 30%. Conversely, if it fails to break $0.09, it could move between $0.082 and $0.09.

The Relative Strength Index (RSI) was 62.57, exceeding the baseline of 50. The Moving Average Convergence Divergence (MACD) also moved above the signal line, indicating a bullish trend. Coingape analyzed that while the increase in trading volume boosted the credibility of the upward movement, sustained long-term demand is necessary to continue the technical breakthrough.

[Key Article Summary]

-Pi Coin rose over 10% on a weekly basis ahead of the Protocol 26 upgrade.

-24-hour trading volume increased by approximately 75% to $11.5 million.

-If it breaks $0.09, there is a possibility of approximately 30% increase to $0.11453.

*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.*