Pi Network price outlook as it completes a major protocol upgrade

cryptonews04-14 21:42

Pi Network has completed a major protocol update that brings it even closer to launching full smart contract capabilities on the network. Summary Pi Network rolled out mainnet v21, moving closer ...

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The most important one will be the introduction of smart contracts to the network, which will enable developers to build decentralized applications in a more efficient and scalable manner.Ethereum price breaks out from multi-year descending channel, eyes upside to $3,400. Disclosure: This article does not represent investment advice.","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4141":"半导体产品","LU1878469433.USD":"THREADNEEDLE (LUX) - AMERICAN SMALLER COMPANIES \"A\" (USD) ACC","PI":"Impinj, Inc."},"translate_title":"Pi Network完成重大协议升级后的价格展望","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PI":1},"content_text":"Pi Network has completed a major protocol update that brings it even closer to launching full smart contract capabilities on the network.\n\n\nSummary\n\n\n\nPi Network rolled out mainnet v21, moving closer to full smart contract support and improved network performance.\nLaunch of a testnet RPC server will allow developers to build and test dApps ahead of mainnet deployment.\nDespite upgrades, Pi Network price remains under pressure, with a bearish breakdown pointing to a potential drop toward $0.131.\n\n\n\nIn an April 14 X post, the Pi Network team revealed that the Pi mainnet has successfully been upgraded to version 21, which introduces several critical performance enhancements.\nThis milestone is part of a series of strategic improvements intended to expand the ecosystem’s functionality. The most important one will be the introduction of smart contracts to the network, which will enable developers to build decentralized applications in a more efficient and scalable manner.\nAs such, the Pi team urged node operators to update their systems to the latest software version immediately. It also promised to share more details regarding the upcoming version 22 update soon, which is expected to further refine the network infrastructure.\nAnother major development shared by the development team is the launch of an RPC server on the Pi Testnet. This tool will enable developers to build, test, and deploy smart contracts before they go live on the main network. Besides this, it will also enable smoother integration with third-party wallets and analytical tools.\nOnce fully implemented, the upgrade will make Pi Network a direct competitor to other popular chains such as Ethereum or Solana, with the aim of boosting Pi token utility over time as new applications continue to be built on the network.\nPi Network price analysis\nPi Network (PI) price initially rose slightly higher to $0.167 on the day before paring off with all of its gains and settling at $0.165 at the time of writing. The token has been in a steady downtrend since late March, during which it fell by approximately 15%.\nOn the daily chart, Pi Network price has formed a descending triangle, a highly bearish pattern, over the past month. It confirmed a bearish breakout from the pattern as it fell below the lower horizontal trend line at $0.166.\nPi Network price has formed a descending triangle pattern on the daily chart — April 14 | Source: crypto.news\nHence the path of least resistance for Pi Network price suggests a move downwards towards the Feb. 11 low of $0.131.\nMomentum indicators such as the MACD and RSI strongly support the bearish forecast as they pointed downwards, suggesting that selling pressure remains dominant for now.\n\n\n\n\n\n                Read more:\n            \n\n                Ethereum price breaks out from multi-year descending channel, eyes upside to $3,400            \n\n\n\n  \n\n            Disclosure: This article does not represent investment advice. 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