Pi Coin has captured renewed interest following its testnet upgrade to version 20, which coincided with a bullish chart pattern. The market recently formed an Adam and Eve bottom structure, a classic signal of potential upward movement. This technical setup aligns with growing optimism, especially after Pi posted a modest 3 percent gain in response to the upgrade.
Breakout Formation Points Toward $0.45 Target
Currently trading near $0.37, Pi Coin has broken out from the Adam and Eve formation, a reliable indicator of bullish reversal. The base of this pattern formed around $0.34, where buyers consistently stepped in to defend the price. A decisive move above the neckline has reinforced short-term bullish sentiment.
The next resistance level sits at $0.39, a price point that previously capped gains in late August. If Pi Coin can push through this level with strong volume, the next technical target is $0.45. This projection is based on the measured move from the breakout, adding credibility to the bullish outlook.
However, a drop below $0.36 could weaken the setup and trigger a retest of the $0.34 support. Maintaining strength above the $0.37 to $0.39 range could pave the way for a longer-term move toward $0.50 or even $0.65, as some analysts have suggested.
Version 20 Upgrade Sparks Community Optimism
The recent upgrade to version 20 on Pi Network’s testnet marks a key milestone in its development roadmap. This transition triggered a 3 percent price increase, reflecting investor confidence in the network’s progress. The upgrade is part of a broader plan leading to version 23 and eventual Mainnet deployment.
Community response has been overwhelmingly positive, with millions of users anticipating full ecosystem activation. Additional developments, such as domain auctions and expanding utility, have further boosted sentiment.
Institutional Interest Adds Legitimacy
Institutional involvement is beginning to emerge, highlighted by a billion-dollar asset manager launching the first Pi Network exchange-traded product. This move signals growing credibility and could attract more mainstream attention if the network continues to evolve.
Frequently Asked Questions (FAQs)
- What does the Adam and Eve pattern mean for Pi Coin?
It suggests a bullish reversal, with potential for the price to reach $0.45 if resistance levels are overcome.
- How does the version 20 upgrade affect Pi’s future?
It strengthens the testnet and builds momentum toward Mainnet readiness, increasing investor confidence.
- Why is institutional interest important for Pi Network?
It adds credibility, expands market reach, and signals growing acceptance of Pi as a legitimate digital asset.
