Pi Network Price Prediction: Pi Shows Early Recovery Signals as Derivatives Activity Weakens

• PI rebounds 4.22% from $0.06228 support but faces resistance around $0.07425.
• Declining open interest to $6.61M signals weakening speculative activity in PI derivatives.
• Stellar’s Protocol 30 upgrade introduces post-quantum verification and faster ledger operations.

Pi Network (PI) has recorded a modest recovery as buyers attempt to push the token above important resistance levels. The cryptocurrency trades around $0.07188, gaining 4.22% over the past 24 hours. 

However, PI remains down 2.20% over the past seven days, reflecting continued weakness across the broader market structure. Its market capitalization stands at approximately $817.9 million, supported by a circulating supply of 11 billion tokens.

Pi Network Attempts to Recover Above Critical Support

PI recently rebounded from the $0.06228 support zone, suggesting buyers are gradually returning. The recovery pushed the token above the 0.236 Fibonacci retracement level at $0.06967.

Besides, the Stochastic RSI has improved to 52.71, while its signal line stands at 26.39. This movement suggests recovering buying momentum after previous oversold conditions.

However, PI continues to trade below its major exponential moving averages. The 20-day EMA stands at $0.07494, while the 50-day EMA sits at $0.07970.

Additionally, the 100-day and 200-day EMAs remain higher at $0.08776 and $0.11451, respectively. These indicators suggest sellers still control the broader market structure.

The immediate challenge involves overcoming resistance around $0.07425. A successful breakout could expose $0.07795 and subsequently $0.07970.

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Conversely, failure to maintain support at $0.06967 could weaken the recovery. Consequently, traders may watch the previous swing low around $0.06228.

Declining Open Interest Signals Weak Derivatives Activity

Pi Network’s derivatives market continues to show declining participation. Open interest currently stands at approximately $6.61 million, highlighting reduced speculative positioning.

The metric previously fluctuated between $14 million and $20 million before experiencing substantial growth. Around March, open interest surged above $30 million, reflecting increased derivatives activity.

Moreover, another rally pushed the metric toward $27 million in April. However, the upward momentum eventually weakened as traders reduced their exposure. Open interest subsequently declined throughout the following months. By October, the metric had fallen below $10 million.

Stellar Activates Protocol 30 Bell Upgrade on Testnet

Stellar has completed its Protocol 30 Bell upgrade on testnet, introducing several improvements to its blockchain infrastructure. The Stellar Development Foundation announced the development on November 4. Validators will vote on activating the upgrade on mainnet on November 23.

The upgrade introduces three changes through CAP-84, CAP-87 and CAP-88. These proposals address customer addresses, cryptographic signature verification and ledger closing times.

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Besides, the improvements expand how Stellar smart contracts handle different operations. The upgrade also introduces post-quantum signature verification capabilities.

Technical Outlook for Pi Network Price

Key levels remain well-defined as PI attempts to extend its recovery:

Upside levels: $0.07425 (0.382 Fib), $0.07494 (20-day EMA), and $0.07795 (0.5 Fib) represent immediate hurdles. A successful breakout could push PI toward $0.07970 (50-day EMA) and $0.08164 (0.618 Fib).

Downside levels: $0.06967 (0.236 Fib) serves as immediate support, followed by $0.06228, the recent swing low.

Resistance ceiling: $0.08776 (100-day EMA) remains a major barrier. Meanwhile, the 200-day EMA at $0.11451 represents the broader long-term resistance.

The technical picture suggests PI is attempting to recover from a prolonged bearish trend. Its improving Stochastic RSI indicates strengthening short-term momentum. However, the price remains below all four major moving averages, highlighting persistent selling pressure.

Will Pi Network Price Go Up?

Pi Network’s price prediction hinges on whether buyers can sustain momentum above $0.06967 and challenge the $0.07425-0.07494 resistance zone. A decisive breakout could encourage further buying toward $0.07795 and $0.07970.

Moreover, a sustained move above $0.08164 could strengthen the recovery and expose PI to $0.08776. However, declining open interest suggests derivatives traders remain cautious.

Failure to overcome immediate resistance could trigger another rejection. A breakdown below $0.06967 would expose the $0.06228 support zone.

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For now, PI remains at a critical turning point. Improving momentum offers recovery potential, but stronger buying activity and a reclaim of key EMAs remain necessary to confirm a bullish reversal.