Can Pi Network price rally past $0.23 as bullish SMA crossover nears?

Pi Network price rallied for the fourth straight day as Pi Network revealed progress towards the project’s technical roadmap ahead of Consensus 2026.

According to data from crypto.news, Pi Network (PI) price rallied nearly 7% to a 5-week high of $0.199 on Wednesday, extending its gains over the past week to nearly 20%.

Pi Network price rallied as Pi Network continues to funnel millions of users through verification and migration processes so that the ecosystem reaches the critical mass required for a stable open network.

In an X post on Wednesday, the Pi team revealed that over 1 million verified users have already completed more than 526 million human KYC validation tasks to facilitate mainnet migration for the broader community, which would ultimately prepare the network for the widespread utility of the Pi token on external exchanges.

These tasks were part of Pi Network’s native KYC system, where validators were paid directly in Pi tokens.

The strategic integration of AI-powered validation through a group of verified users showcases Pi Network’s technical maturity ahead of its co-founders’ speech at the Consensus 2026 event to rebuild retail confidence. At the event, the team’s presentation would likely pivot the brand into a specialized identity layer for the AI era.

Pi Network’s price also found support from rising investor interest around the mandatory Protocol 22 mainnet upgrade, which reached its deadline on April 27. While the rollout has not yet been fully confirmed across all node operators, attention has already shifted to the next phase, expected to unlock more advanced blockchain capabilities.

The update would move the network closer to the upcoming Protocol 23 upgrade, which is expected to introduce full smart contract support for decentralized applications and complete its transition to the latest Stellar Core standards.

Such technical milestones are being viewed as the final hurdles before the network achieves its long-awaited maturity and becomes a fully functional on-chain economy.

Pi Network price analysis

On the daily chart, Pi Network price has moved above the 20-day, 50-day, and 100-day SMA and is lying close to the 200-day SMA at press time. Adding to this, the 20-day SMA is close to a bullish crossover with the 50-day SMA, a major sign that short-term momentum is rapidly accelerating and could lead to a sustained upward trend.

The Supertrend indicator has turned green for the first time since mid-March, which means the overall market sentiment has shifted from bearish to bullish, signaling a potential buying opportunity for swing traders.

Meanwhile, Pi Network price is near the 61.8% Fibonacci retracement level at $0.195. This level is widely considered one of the most critical zones for a bullish reversal, with a break above it likely to push prices as high as $0.234, which aligns with the 38.2% retracement level.

On the contrary, a drop below $0.180 can invalidate this move and lead to a retest of the 78.6% Fibonacci retracement level at $0.166.