Pi Network Buyers Try to Hold the $0.0839 Support Line

Pi Network is seeing a slight bounce on Monday as investors defend the $0.0839 support mark. This comes after two days of price dips and follows the official release of Node version 0.6.2. The update introduces distributed computing capabilities, which the team hopes will build a stronger foundation for future network utilities.

Despite the technical update, market confidence remains fragile. Global geopolitical concerns have pushed the Fear and Greed Index to 38, signaling that many traders are playing it safe. Derivatives data also shows a dip in interest, with futures Open Interest falling to $8.81 million. This suggests that while the upgrade generated some social buzz, it has not yet sparked a rush of new capital.

Technically, the coin is stuck in a tight range. While it previously broke out of a falling channel, the lack of momentum has prevented a sustained climb. Traders are now watching the $0.0839 level closely, as a drop below $0.0786 would likely invalidate the recent bullish trend. On the flip side, reclaiming the $0.1000 mark is the next major hurdle for buyers who want to prove this recovery has real legs.