Can Pi Network price recover as Protocol v25 upgrade offers fresh catalyst?

Pi Network's PI token has stabilized above the $0.073 support zone after a sharp weekly decline, while the project's scheduled Protocol v25 upgrade has given traders a fresh event that could determine whether the token extends its recovery.

According to CoinGecko data, PI traded around $0.0779 on Thursday after moving between an intraday low of $0.07256 and a high of $0.07884. 

The token has gained about 6% over the past 24 hours but remains down more than 20% over the previous seven days, showing that buyers have only partially recovered from the recent sell-off.

As Bitcoin has continued to consolidate around the $64,000 level, demand for smaller cryptocurrencies has remained limited. 

PI has moved within the same cautious market environment, though its ability to hold above recent lows has shifted attention toward an upcoming network upgrade that could encourage renewed interest if adoption follows.

Protocol v25 puts Pi Network back in focus

Pi Network announced on July 15 that Protocol v25 will go live on July 22, introducing improvements designed to strengthen network stability, reliability, and privacy-focused smart contract capabilities.

In its announcement, the Pi Core Team said the release will add BN254 cryptography and Poseidon hashing, allowing developers to build zero-knowledge applications that can process sensitive information without exposing underlying data on public records.

The project said the upgrade will also improve the efficiency of privacy-preserving smart contracts, making it easier to support a growing number of applications and services across the ecosystem.

"As Pi continues to evolve, Protocol v25 is expected to improve network stability and reliability while supporting new capabilities for more efficient, privacy-preserving smart contracts," the Pi Core Team said in its update on X.

While the technical improvements could broaden the range of decentralized applications available on the network, whether the upgrade translates into higher demand for PI will depend on developer activity, ecosystem growth, and network performance after deployment. 

For now, the scheduled rollout has provided traders with a clearly defined catalyst after weeks of persistent selling pressure.

PI price analysis

From a technical perspective, PI has not yet confirmed a trend reversal despite showing early signs of stabilisation.

On the daily chart, the token continues to trade below its 20, 50, 100 and 200-day exponential moving averages, which remain aligned in a bearish order.

PI/USDT 1-day price chart. Source: TradingView.

The 20-day EMA near $0.0986 now represents the first major resistance, followed by the 50-day EMA around $0.118, while the 100-day and 200-day EMAs remain much higher near $0.138 and $0.182.

At the same time, the daily Relative Strength Index has dropped to around 16, placing PI in deeply oversold territory. 

Such readings often precede relief rallies after prolonged declines, although the indicator alone does not confirm that a lasting uptrend has begun.

The 4-hour chart presents a slightly more constructive outlook. See below.

PI/USDT 4-hour price chart. Source: TradingView.

Chaikin Money Flow has moved back above zero, indicating that buying pressure has started to recover after the heavy liquidation earlier this week. 

Even so, price remains below all major moving averages on the lower timeframe, showing that sellers still control the broader trend.

Recent price action has also established support between $0.073 and $0.074 after buyers repeatedly defended that area following the sharp breakdown. 

Holding above that range could allow PI to challenge immediate resistance around the 20-period EMA near $0.079, with additional upside levels near $0.087 if buying momentum strengthens after the Protocol v25 launch.

Failure to maintain support, however, could leave PI vulnerable to another test of its recent lows, especially if the upgrade fails to attract meaningful developer participation or broader market sentiment weakens again. 

Until price reclaims key moving averages, the charts indicate the current move is better described as a stabilisation phase rather than the beginning of a confirmed bullish trend.