Pi Network (PI) edged 1% higher on Thursday, extending the 2% rise seen the previous day. The modest rebound follows co-founder Chengdiao Fan’s participation at the Token2049 event in Singapore and the unveiling of new Decentralized Finance (DeFi) features on the project’s testnet.
New DeFi features expand Pi ecosystem
Shortly after Chengdiao Fan delivered a keynote speech on Web3 utility at Token2049, Pi Network announced the launch of several DeFi tools on its testnet, including a Decentralized Exchange (DEX), Automated Market Maker (AMM) liquidity pools, and token creation functionality.
These features allow developers to test token swaps, liquidity provisioning, and other DeFi applications within the Pi ecosystem. The project’s core team emphasized a focus on real-world utility, positioning token creation for practical use cases rather than speculative meme coin trends.
The rollout also coincides with Stellar’s ongoing development of version 23, which will enable smart contract functionality. Version 23 is currently live on Testnet 1, with deployment to Testnet 2 and eventually Mainnet outlined on the roadmap.
Pi price outlook: consolidation above support
PI continues to trade above the $0.2700 level, consolidating after finding support near $0.2565 earlier this week. The sideways movement reflects muted immediate market reaction to both Chengdiao’s Token2049 appearance and the DeFi testnet launch.
Technical indicators suggest that selling pressure is easing. The Relative Strength Index (RSI) has recovered to 33 after briefly dipping into oversold territory, while the Moving Average Convergence Divergence (MACD) is nearing a bullish crossover. These developments point to potential upward momentum in the near term.
On the upside, resistance is expected near $0.3220—the August 1 low—which also aligns with the upper boundary of the prevailing falling channel. A break above this level could confirm a bullish reversal.
However, failure to hold above $0.2565 support would expose the token to deeper losses, with the $0.2000 psychological level as the next downside target.
