Pi Network Price Prediction: Linux Node Launch + Stellar Protocol 23 Smart Contracts, PI Might Experience a Breakthrough Recovery

Pi Network (PI) rose nearly 3% to $0.356 on August 29, continuing its rebound phase within the downtrend channel. Behind this surge, there are two major catalysts—the release of the Pi Node Linux version and the Stellar protocol 23 upgrade, which will introduce smart contracts functionality, injecting new momentum into the Pi ecosystem. Technical analysis shows that PI is expected to further attack the 50-day EMA, challenging the $0.4120 resistance.

Linux Node Version Release: PI Node Ecosystem Fully Expanded

The Pi core team announced that Pi Node now supports Linux systems, becoming the third desktop version after Windows and macOS.

Deployment Plan: There will be two testnet deployments, followed by the mainnet launch in a few weeks.

KYC verification: Like other versions, the Linux node will have built-in "Know Your Customer (KYC)" permissions to ensure that all network nodes are verified users.

This update not only expands the user base for node operations but also signifies an acceleration in the launch process of the Pi mainnet, allowing pioneers to deposit verified PI balances, thereby driving the comprehensive activation of the Pi ecosystem.

Stellar protocol 23: smart contracts functionality is about to launch

Pi Network will utilize the Stellar protocol upgrade 23 to introduce smart contracts functionality on the mainnet.

Voting time: The Stellar mainnet will conduct voting on September 3.

Ecological Impact: Smart contracts will bring more decentralized application (dApp) scenarios to Pi, expanding its DeFi and payment ecosystem.

In addition, the payment solution Onramp Money hinted on social media that it may integrate with Pi Network on September 1, using "3.14159" as a metaphor, further igniting the market's anticipation for the mainnet launch.

Technical Analysis: PI is expected to challenge 0.4120 USD

(Source: Trading View)

As of August 29, PI reported $0.356, with a daily increase of nearly 3%, rebounding from the low of $0.3220 on August 1.

Structure: The daily chart shows that PI is currently in an upward phase within a large falling channel.

Target level: If the Rebound continues, the price is expected to rise along the 50-day EMA to 0.4120 USD.

RSI indicator: currently at 47, close to the midpoint, and a bullish divergence with the price has appeared, indicating a recovery in buying momentum.

Downside risk: 0.3220 and 0.3000 USD are key support

If PI fails to hold the current rebound support, the price may test the low of August 1st at 0.3220 USD.

Risk of losing support: Breaking this level may trigger a surge in supply pressure, testing the psychological barrier of 0.3000 USD.

Strategy suggestion: Short-term traders should pay attention to the breakout situation of the 0.35 dollar support and 0.4120 dollar resistance.

Conclusion

The release of the Linux node version of Pi Network and the upgrade of the Stellar protocol 23 smart contracts have brought strong fundamental support for PI. The bullish technical signals combined with favorable ecological factors suggest that PI is expected to challenge $0.4120 in the short term. However, if the support is lost, the risk of a retracement to $0.3220 or even $0.3000 still needs to be heeded. For more real-time market data and in-depth analysis, please follow the official Gate platform.