Pi Network (PI) is down 2% today, October 24, to trade at $0.078 at the time of writing. This dip mirrors the downtrend across the broader crypto market, where the total market cap has fallen by 1.37% to $2.7 trillion.
Bitcoin (BTC) had dropped below $81,000 at the time of writing, while Ethereum also fell below $2,400. Following this drop, PI is now inching close to a make-to-break support despite a recently launched desktop upgrade.
Pi Core Team Rolls Out Major Desktop Upgrade
In an X post, the Pi Core team noted that the network had released Desktop Version 0.6.4. The upgrade targets SoloHost apps to ensure that pioneers can access apps such as local AI agents through their phone’s Pi Browser.
The team notes that this upgrade will not only boost accessibility to SoloHost apps but also increase security by checking the access rights on apps before they are installed and every time that they start.
This upgrade comes ahead of the first-ever Pi Ecosystem Summit that will take place between November 17 and 19, as earlier reported by CoinGape. During this summit, the Pi Core team has said it plans to unveil new features and platforms.
Pi Network also recently rolled out the Protocol 28 upgrade on the mainnet on October 16, as earlier reported by CoinGape. The upgrade sought to improve network efficiency and smart contract management.
Pi Network Price Defends Crucial $0.077 Support as AO Bars Hint at a bullish Divergence
Pi Network price remains above the crucial support level at $0.077 despite the recent surge in selling pressure. The altcoin has not closed below this support since mid-July suggesting that buyers view this price to be a good entry point.
However, the uncollected liquidity below this price could act as a magnet that pulls Pi Network down.
If selling pressure increases, Pi Coin price might drop to collect liquidity $0.074. An extended dip below this price might see bears test support at the psychological all-time low of $0.070.
On the upside, there is a FVG gap between $0.083 and $0.086. Pi Network price needs to close above the midline of this FVG gap at $0.084 to confirm a bullish future Pi Coin price outlook. If PI tests the resistance at $0.084 and fails to close above it, it could suggest that the bears remain in control.
The AO bars that have turned green despite the recent drop in price are creating a bullish divergence as bearish pressure fades.
However, the ADX line supports the bearish thesis, with its movement north suggesting that the uptrend is gaining strength.
