Pi Network Price As V23 Upgrade Enters Its Final Phase: Will Pi Coin Rally To $0.20?

Pi Network price hovered at $0.15 on Tuesday after slight gains lifted the token above a flat crypto market. Pi is up 1.39% over 24 hours, as buyers respond to the latest update progress for V23. 

In addition, Mainnet also got ready for the final synchronization before major changes to the protocol in the upcoming network phase.

Pi Network’s V23 Upgrade Enters Final Phase

The final rollout of Pi Network’s Protocol V23 is underway. V23 is now working well on Testnet 1 and Testnet 2. Mainnet continues to be on V22 while node operators are migrating.

The upgrade is considered more than a typical software update. Its purpose is to enhance synchronization in the network and to boost consensus standardization. It sets up the chain for smart contract programmability.

The increased interest in open-source PiRC repositories has been fueled by the hype of developer activity around them. The latest updates indicate the move towards tokenization solutions and preparations of Oracle simulator. The developments indicate that Pi network is laying the groundwork for wider use.

Breaking: #PiNetwork 🔥🚀

V23 successfully deployed on TESTNET2.

If no bugs are found, @PiCoreTeam will move it straight to Mainnet.

Today is the deadline for the V23 upgrade.

This upgrade unlocks the door for builders waiting for programmable smart contracts inside the… pic.twitter.com/S0nIHsWdWP

— MAHIDHAR CRYPTO (@Mahidhar_Crypto) May 19, 2026

V23 has the potential to increase long term use cases for Pi, supporters feel. But traders are still cautious as the Mainnet transition does not justify yet. The market tends to hold off on the pricing of higher than expected expectations until migration is confirmed.

Crypto Market Pressure Limits Pi Coin Rally

The small rebound by Pi occurred in a low market. The price of Bitcoin dropped below $77,000 for the first time since the end of April. Digital assets have been under pressure overnight on Tuesday.

The overall value of the cryptocurrency market dropped to $2.56 trillion. Daily trading volume was $91.3 billion, up during the selloff. The move was attributed by traders to geopolitical concerns and dull risk appetite.

The Crypto Fear and Greed Index fell to 39, which is in the neutral zone. The reading showed that although Pi was initially successful investors were still cautious.

Pi will need to keep a lid on the $0.15 range for the time being. If it is confirmed that the V23 Mainnet migration will happen, then there is a chance of a go up one again. Buyers may likely be seen retesting at $0.20, but market conditions will pose a significant obstacle.

Will PI Network Price Recover Toward $0.20 This Week?

As of the reporting, the Pi coin price traded at $0.1507, with a slight surge of 1.7%. After the sellers pushed down PI below the $0.16 support level, price action remained weak.

The breakdown showed pressure below the former support area, which has become the nearby resistance. PI is currently being tested in the $0.15 zone, where the buyer tried to recover short.

The RSI level was at 32.50, indicating weak momentum in the near oversold zone.  The MACD histogram signalled a slight uptick as relief set in from the sell-off. The MACD line remained in the red area of the MACD and below the zero line.

A clean hold above $0.15 would fuel a further move to $0.16. The next bull market price target is $0.17, if buyers recover $0.16, as reported in full Pi coin forecast.

A further push may bring $0.18 back into play for short-term traders. The bearish pattern can still remain active, though, around $0.16.

If so, PI may have to look at $0.15 again and face a further drop. A confirmed break below $0.15 could expose $0.1450, then $0.14.