Pi Network (PI) extends its recovery on Wednesday, trading above $0.098 after finding support around the 50-day Exponential Moving Average (EMA) earlier this week. The rebound comes as the Pi Core Team highlights the importance of strengthening its developer ecosystem to expand application-level utility across the network. In addition, improving momentum indicators suggest the recovery could extend further in the near term.
Pi Network boosts developer tools to accelerate ecosystem utility
Pi Core Team posted on its X account on Wednesday about the importance of strengthening its developer ecosystem to expand application-level utility.
“Supporting developers is essential to expanding utility at the application level,” the Core Team said in a post on X.
It further explained that developers create products, services, and experiences that give Pioneers more ways to participate in the Pi ecosystem. Improving the underlying development environment helps turn Pi’s technical capabilities and ecosystem resources into applications that Pioneers can use.
This follows the introduction of new developer capabilities on September 4, along with developer documentation that provides a clear guide for building new Pi Apps.
These updates and developments highlight the network’s growing focus on application-level utility and aim to expand the Pi ecosystem, supporting a bullish long-term outlook. Meanwhile, in the short term, PI is extending its recovery, gaining more than 3% so far this week after advancing 5.20% in the previous week.
Pi Network technical outlook: Improving momentum indicators support further recovery
PI trades at $0.098 on Wednesday, up over 3% so far this week after finding support around the key 50-day EMA at $0.094 earlier this week. Despite the rebound, PI remains broadly capped as it trades below the 100-day and 200-day EMAs at $0.106 and $0.143, respectively.
The Relative Strength Index (RSI) around 63 and a mildly positive Moving Average Convergence Divergence (MACD) reading hint at improving but still constrained upside momentum beneath these higher-timeframe barriers.
On the topside, initial resistance emerges at the 100-day EMA near $0.106, with a break there exposing the horizontal cap at $0.118 before the more distant 200-day EMA at $0.143.
On the downside, immediate support is aligned with the 50-day EMA at $0.094, followed by the prior downtrend interaction area around $0.086, while a clearer bearish extension would target the horizontal floor near $0.075.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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