Required containers
- Pi Network (PI) is currently consolidating within the four-hour chart.
- The deployment of integrated contracts on the BSC and OP testnets is part of the mainnet upgrade, increasing the capacity of the Pi Network.
PI maximizes integration within the downstream process
Pi Network (PI) is trading in the red on Wednesday, down 1%, continuing its consolidation within the four-hour chart.
Although the price is currently bearish, the technical outlook remains stable. PiChain Global, a key player within the Pi Network ecosystem, has recently deployed integrated contracts on the BSC and OP testnets, demonstrating that ongoing upgrades are bringing new capabilities to the Pi Network ecosystem.
In the update posted on X, PiChain Global announced the successful distribution of cross-chain smart contracts on two blockchain testnets: BSC (Binance Smart chain) and Optimism OP testnet, built on Ethereum.
This move marks the expansion of functionality within the Pi Network, expanding its capabilities. PiChain also plans to integrate this into its PCM wallet, temporarily suspending its Meeta program due to resource shortages.
This new development is part of the Pi Core Team’s push to upgrade the mainnet, which has reached Stellar Protocol v23 on the Pi Network testnet.
Mainnet nodes must complete this upgrade by Friday to remain connected to the network, and if successful, the upgrade will unlock parallel functionality on the mainnet, expanding the use of the PI token.
PI price forecasting: the end of strong momentum from the decline
The 4-hour PI/USD chart is simple and effective. At press time, Pi Network is connecting between the $0.1700 mark and the May 9 high of $0.1766 on the 4-hour chart.
This combination is controlled by two main channels – from April 29th to May 6th, and a supporting channel from April 30th to May 8th.
The short-term momentum is resuming on the 4-hour chart. The Moving Average Convergence Divergence (MACD) remains above its signal line, with positive histogram bars moving towards the zero line.
The Relative Strength Index (RSI) shows a continuous rise between 46, while the price is above the main level of $0.1700, indicating a positive divergence.
If the bulls regain control, immediate resistance is found at the short-term lower line near $0.1766.
A sustained break above this resistance level would help lift the current cap and pave the way to the May 6 high at $0.1881.
However, if the market is being corrected, the initial support is at the $0.1700 level, followed by a lower support line near $0.1670.
If the price falls below this support level, it can trigger a deep pullback, which can weaken the consolidation plan.
