Pi Network Price Prediction: PI Tests Crucial Support as Open Interest Soars

Pi Network (PI) price is down 1% today, October 5, to trade at $0.086 at the time of writing. This drop has pushed Pi Coin price to near support at $0.085. Meanwhile, futures data shows that PI’s open interest is rising despite the price decline.

Pi Network Open Interest Jumps to $31M

Data from Coinalyze shows that Pi Network’s open interest has been on an uptrend for the last three days after rising from $25.55 million on October 3 to $31 million at the time of writing.

This increase in OI while the price is dropping usually suggests that short sellers are opening new positions as they bet that Pi Network price will continue the downtrend.

The shorts buildup comes despite a flurry of bullish developments around Pi Network. As we reported, Pi Network has partnered with OpenUSD to streamline pioneer rewards and expand the network’s utility.

Pi Network is also headed for another Protocol 28 upgrade on October 16 that will introduce secure data storage, improve latency handling, and upgrade Pi Network’s smart contract mechanism.

Analyst Makes a Bullish Case for Pi Coin

Analyst Kim Wong on X has shared a bullish Pi Network future outlook, noting that the network has amassed more than 60 million users and currently boasts the second-highest following for a crypto network on X after Ethereum.

The analyst also noted that more than 100 applications could launch on the Pi Network mainnet.

“Pi Network ( $PI ) has a bright future ahead and will benefit from the strong cryptocurrency bull market that’s already underway,” the analyst said.

Despite the bullish outlook, Pi Network’s market cap remains below $1 billion. The token is also down 97% from its all-time high of $2.98 created in February 2025.

Pi Network Nears Crucial Support as Bearish Momentum Strengthens

Pi Network price is down by nearly 7% month-to-date. This drop has pushed PI close to the crucial support at $0.085.

Closing below the support at $0.085 could push Pi Network price to the July low of $0.076.

The volume histogram bars show that the selling pressure is outweighing the buying pressure, and if this trend holds, Pi Coin might drop to $0.076.

The RSI at 43 supports a bearish outlook for Pi Network price. The RSI line also continues to tip south, suggesting that bears are tightening their grip.

However, the ADX line that remains below 20 suggests that the downtrend remains weak. Still, Pi Network price will need to hold the support at $0.085 and confirm a close above $0.093 to confirm a return of the uptrend.