Pi Network price charts sound alarm, will October get worse?

Pi Network price has slipped below $0.0800 as negative daily momentum puts the lower edge of a proposed double-bottom formation under pressure.

TradingView’s OKX PI/USDT daily chart showed Pi Network trading at $0.07856 on Oct. 8, down 2.96% for the session. The token touched a daily low of $0.07713 after reaching $0.08300, leaving it below the $0.0800 level around which earlier trading had clustered.

The weekly chart showed a similar deterioration. PI traded at $0.07845 against a weekly opening price of $0.08731, a decline of 10.14%, with the week’s high at $0.08834.

Both timeframes placed the token near the lower end of its recent trading range. The daily chart also showed that September’s recovery toward $0.1000 had given way to another retreat, bringing the July and August lows back into focus.

Pi Network price falls into a critical support zone

On the daily TradingView chart, PI’s latest decline returned the token to an area where buyers had previously interrupted selling during July and August. Those earlier rebounds created the two troughs behind a potential double-bottom interpretation.

A market commentator publishing as Crypto With Gopal identified that formation in an Oct. 5 post, when PI traded around $0.0868. The analyst placed support between $0.075 and $0.080 and said a loss of that area would weaken the bullish structure.

At roughly $0.0785, PI now trades inside that support band. The latest daily low of $0.07713 leaves a narrow gap above its lower boundary, while the move below $0.080 places the upper edge of the zone overhead.

The analyst’s setup therefore faces its support test before any breakout confirmation. His stated neckline sits between $0.105 and $0.110, well above the latest price.

Using the daily chart’s $0.07856 reading, a recovery to the bottom of that neckline would require a gain of approximately 34%. Reaching $0.110 would require about 40%, illustrating the distance between the current support test and the proposed reversal trigger.

Daily MACD and Supertrend retain bearish readings

TradingView’s daily Supertrend remained red at $0.09267, above PI’s market price. The indicator has continued to sit overhead through the recent consolidation, including the latest October decline.

PI would need to rise approximately 18% from $0.07856 to reach that reading. On the chart, the Supertrend level also falls within the broader $0.090–$0.100 area where several recent recovery attempts stalled.

The daily MACD added another negative reading. Its line stood at approximately minus 0.00200, below the signal line at minus 0.00102, while the histogram registered minus 0.00098.

The chart showed fresh red histogram bars alongside the latest price drop. September’s earlier positive momentum had faded, and the MACD line turned lower again as PI moved toward $0.080.

Taken together, the daily chart’s negative MACD and overhead Supertrend support a bearish technical interpretation. A rebound into the previous range would leave PI below the Supertrend until the token recovered further toward $0.09267.

The nearby reference levels are $0.0800 and the latest session high of $0.08300. Above those, the chart places the larger recovery hurdles around $0.090–$0.093 and the September trading ceiling near $0.1000.

Weekly Bollinger Bands leave $0.0603 in view

TradingView’s weekly Bollinger Bands showed a midpoint of $0.10151, an upper band of $0.14272 and a lower band of $0.06030.

PI remained below the midpoint, extending the broader pattern visible across the weekly chart. The token’s recent sideways trading near $0.080–$0.100 had not carried it back above the descending central line.

At $0.07845, the weekly price stood approximately 23% above the lower band in terms of the decline required to reach it. The $0.06030 reading provides a lower technical reference if the analyst’s $0.075–$0.080 support area breaks.

Bollinger levels change with subsequent price data, so $0.06030 remains the indicator’s current reading rather than a fixed October forecast.

The midpoint presents the opposite hurdle. A move from $0.07845 to $0.10151 would require roughly 29%, placing a weekly recovery near the same $0.100 area that capped September’s advance.

The weekly chart therefore shows two distinct tests: whether PI can hold its recent lows, and whether a subsequent rebound can recover the central Bollinger line.

October upgrade approaches as reversal targets remain conditional

Pi Network has announced that its testnet has upgraded to Protocol 28. The project set Oct. 13 as the node upgrade deadline ahead of a scheduled mainnet upgrade on Oct. 16.

According to the announcement, Protocol 28 improves the handling of delayed transaction data and allows developers to update groups of smart contracts and stored application data more safely. The dates fall within October’s remaining trading window, while PI’s charts continue to show pressure near support.

Separately, Pi Network said its September verification changes allowed more than 417,000 users previously flagged for possible duplicate accounts to progress through KYC. The project also announced a planned fix for 497,000 users whose migration claims were blocked by insufficient balances for transaction fees.

For October’s bullish scenario, Crypto With Gopal tied a $0.14 target to a confirmed daily breakout above the $0.105–$0.110 neckline. He also listed a higher target of $0.21–$0.22, conditional on the proposed reversal developing.

The latest charts place the immediate test much lower. PI remains inside his $0.075–$0.080 support band, below daily Supertrend resistance and beneath the weekly Bollinger midpoint. Holding that support would preserve the proposed formation; losing it would weaken the analyst’s setup and bring the weekly lower band near $0.0603 into closer view.