Pi Network jumps 30% from monthly low as V23 upgrade, DEX launch, and tier-1 listing speculation fuel breakout talk.
Pi Network price has rebounded in recent days, and market participants are assessing whether the token has reached a near-term bottom.
The coin has gained over 30% from its monthly low and traded at its highest level since February 22.
A crypto analyst known as Dr. Altcoin said the asset may be set for a bullish breakout if broader market conditions remain stable.
Analyst Points to Catalysts for Pi Network
Dr. Altcoin stated that Pi Network price may have bottomed unless the wider crypto market weakens further.
He cited several network developments that could support price growth in the coming weeks. These include the upcoming v23 protocol upgrade and potential exchange listings.
He said the v23 upgrade aims to improve network speed and reliability. The update is also expected to make application development easier for builders.
Improved tools may attract more projects to the ecosystem and increase on-chain activity.
The analyst also referred to possible tier-1 exchange listings as a future driver.
While no official confirmation has been issued, market participants often view such listings as liquidity events. Increased access may expand trading volume and user participation.
Ecosystem Growth and RWA Expansion
The network has continued to expand partnerships and ecosystem projects.
Investments in firms such as CiDi Games and OpenMind were cited as steps toward broader adoption. These collaborations aim to support application growth within the Pi ecosystem.
The upcoming launch of Pi DEX and automated market maker tools may also increase utility.
The introduction of native ecosystem tokens is expected to accompany these tools. Developers aim for each token to serve a defined function within the network.
Real-world asset tokenization remains another area of focus. RWA growth has been a broader trend across blockchain networks.
If implemented on Pi, such assets could expand use cases and attract institutional interest.
Related Reading: Pi Network Explodes in Growth One Year After Open Network Launch
Technical Setup Signals Possible Breakout
Technical indicators suggest that Pi may be forming a bullish flag pattern on the daily chart.
This formation is often seen as a continuation signal during upward trends. Traders are monitoring resistance near the $0.2050 level.
Price action also shows the formation of a potential double-top pattern. The neckline stands near $0.1556, which serves as key support.
A sustained move above $0.2055 could open the path toward $0.2500.
Pi Network tests $0.1556 support, eyes $0.2050 resistance breakout. Source: TradingViewThe Supertrend indicator has turned green, which is commonly viewed as a bullish signal.
However, a drop below $0.1555 would weaken the current outlook. Market participants continue to track both technical levels and network developments.
Source: https://www.livebitcoinnews.com/pi-price-bottom-in-v23-tier-1-listing-rwas-could-fuel-rally/
