{"id":11990,"date":"2026-08-17T12:13:15","date_gmt":"2026-08-17T12:13:15","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=11990"},"modified":"2026-08-17T12:13:15","modified_gmt":"2026-08-17T12:13:15","slug":"pi-network-defends-0-0839-support-following-latest-node-upgrade","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=11990","title":{"rendered":"Pi Network defends $0.0839 support following latest Node upgrade"},"content":{"rendered":"
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Key takeaways<\/span><\/p>\n
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Pi Network edges higher on Monday as buyers defend the $0.0839 support level following two consecutive daily declines.<\/span><\/li>\n
The Pi Core Team released Node version 0.6.2 after successfully testing distributed computing capabilities across the network.<\/span><\/li>\n
A break below $0.0786 could invalidate the recent channel breakout, while a recovery above $0.1000 could strengthen the bullish outlook.<\/span><\/li>\n<\/ul>\n
Pi Network (PI) edges higher on Monday as buyers attempt to defend the key $0.0839 support level following two consecutive days of losses.<\/span><\/p>\n
The mild recovery comes after the Pi Core Team released a new Node upgrade focused on advancing the network\u2019s distributed computing capabilities. However, PI\u2019s technical outlook remains mixed, with weak derivatives activity and indecisive momentum limiting confidence in a sustained rebound.<\/span><\/p>\n
Weak market sentiment weighs on Pi Network<\/h2>\n
Pi Network remains a highly speculative cryptocurrency whose price is heavily influenced by broader market conditions, retail demand and the strength of its community.<\/span><\/p>\n
CoinMarketCap\u2019s Crypto Fear and Greed Index stands at 38 on Monday, reflecting cautious sentiment and reduced risk appetite among investors.<\/span><\/p>\n
Renewed geopolitical tensions involving Israel, Lebanon, the United States and Iran have contributed to uncertainty across risk assets. This defensive environment could make it more difficult for speculative tokens such as PI to attract fresh capital.<\/span><\/p>\n
The Pi Network community continues to anticipate further ecosystem development around its reported base of 18 million Know Your Customer-verified users.<\/span><\/p>\n
The Pi Core Team released version 0.6.2 of its Node software on Saturday. The upgrade follows a successful test of distributed computing capabilities across Pi Nodes and could provide a foundation for additional network utilities.<\/span><\/p>\n
Expanding the role of individual Nodes beyond transaction validation could strengthen the network\u2019s functionality and provide new use cases for participants. However, the upgrade\u2019s long-term impact will depend on whether developers introduce applications that generate sustainable user demand.<\/span><\/p>\n
Social activity showed a modest increase following the announcement. Santiment data indicates that Pi Network\u2019s Social Dominance rose to 0.01% on Sunday from 0.009% on Saturday. Social Volume also increased to 12 from 8 over the same period.<\/span><\/p>\n
The figures suggest that the Node upgrade generated slightly more discussion, although overall social engagement remains limited.<\/span><\/p>\n
Pi Network\u2019s derivatives market continues to show reduced trader participation. According to CoinAnk, PI futures Open Interest declined to $8.81 million from $9.12 million on Friday.<\/span><\/p>\n
Open Interest measures the notional value of outstanding derivatives contracts. A decline generally indicates that traders are closing leveraged positions or reducing their exposure.<\/span><\/p>\n
The continued reduction in PI futures Open Interest suggests that speculative interest is weakening despite the latest technical upgrade and Monday\u2019s mild price recovery.<\/span><\/p>\n
Pi Network struggles to extend falling-channel breakout<\/h2>\n
Pi Network maintains a bearish short-term bias as its price consolidates below $0.0900.<\/span><\/p>\n
PI previously broke above a falling-channel pattern on the daily chart, creating the possibility of a bullish reversal. However, the token has failed to produce meaningful upside follow-through, reflecting weak buying demand.<\/span><\/p>\n
At the time of writing, buyers are defending the 78.6% Fibonacci retracement level at $0.0839. The retracement is measured from the recent decline between $0.1341 and $0.0703.<\/span><\/p>\n
A sustained break below $0.0839 could expose the former channel resistance trendline near $0.0786. A decisive daily close below this level would weaken the bullish breakout structure and raise the risk of deeper losses.<\/span><\/p>\n
Pi Network\u2019s daily momentum indicators provide little evidence of a strong recovery. The Moving Average Convergence Divergence indicator remains only marginally above its signal line and is at risk of forming a bearish crossover. Such a move would indicate that downside momentum is beginning to strengthen.<\/span><\/p>\n
The Relative Strength Index stands at 45, below its neutral midpoint of 50. This reading reflects modest bearish pressure but remains consistent with range-bound trading rather than an oversold market.<\/span><\/p>\n
<\/p>\n
On the upside, the psychological threshold at $0.1000 represents the first major resistance level.<\/span><\/p>\n
This area is reinforced by the 50% Fibonacci retracement at $0.1022, creating a meaningful supply zone where sellers could limit any recovery.<\/span><\/p>\n
A decisive breakout above $0.1022 would strengthen PI\u2019s recovery prospects and could open the way toward the 23.6% Fibonacci retracement at $0.1190.<\/span><\/p>\n
Until PI generates stronger buying demand and derivatives participation begins to recover, its near-term outlook is likely to remain cautious.<\/span><\/p>\n
Key takeaways Pi Network edges higher on Monday as buyers defend the $0.0839 support level following two consecutive daily declines. The Pi Core Team released Node version 0.6.2 after successfully testing distributed computing capabilities across the network. A break below $0.0786 could invalidate the recent channel breakout, while a recovery above $0.1000 could strengthen the<\/p>\n","protected":false},"author":1,"featured_media":11991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-11990","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eurozone"],"yoast_head":"\n
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![\"\"](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/08\/ChatGPT-Image-Aug-17-2026-12_50_42-PM.png\")
\n<\/picture> <\/div>\n<\/p><\/div>\n![\"PI\/USD](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/08\/PIUSD_2026-08-17_12-45-03.png\")
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