How High Could Pi Network Price Go After Protocol 22 Upgrade Today?

Pi Network price is showing some positive signs today. One of them is that trading volumes are up. This is happening today, April 27, the same date that the Pi Core team said is the last day for the Protocol 22 upgrade. Could these traders be buying because protocol 22 will cause gains? And if this is the case, how high could Pi Network’s price go?

Protocol 22 Upgrade Drives Momentum

Trading activity around PI is up. In 24 hours, there was a 62% jump in how many Pi Coins were bought or sold. However, this does not tell whether the traders were sellers or buyers. But the price of Pi Network was down by 0.42% to trade at $0.35.

The main reason why the price could be down is sell-the-news psychology. Whenever traders expect that the price will go up, they start buying very early. When the event date is close, they begin to sell to take profits.

As earlier reported by CoinGape, it was a good time to buy Pi Network after the upgrade was announced and users increased. But now, if the bullish outlook from the upgrade is exhausted, there could be users who are sending tokens to exchanges.

But what is being sent to exchanges is not as much as what is being sent out. PiScan shows that in 24 hours, 5.2 million PI was sent to exchanges, while six million was sent out. This means there are 800,000 more PI tokens being sent out.

The reason why this could be happening, despite there being concerns that Protocol 22 will be a sell-the-news event, is that this is not the only thing happening with PI. The Consensus 2025 will be pivotal for Pi Coin because the two founders are going to be speaking here on May 6.

Pi Network Price Eyes 13% Rally

There was speculation earlier that before the date of this upgrade, Pi Network price would increase. A recent CoinGape Pi Coin price analysis had anticipated a run to $0.25 ahead of the upgrade date. This has failed to happen, but it does not mean the target is not achievable.

The reason why getting to $0.30 is very possible for Pi Coin price is because of its rounded bottom. When PI went from $0.18 to $0.16 and then back to $0.18, a rounding bottom appeared. It is usually a sign that bears are losing grip.

From the bottom of the rounding pattern to the top is a 13% rally. But there is resistance at $0.196. If today’s upgrade brings some new buyers in and this hurdle is broken, the same 13% rally may happen to our target. That means Pi Network price may reach $0.20.

But there is still a reason to be concerned because the bullish momentum is not what it was before. The RSI is at 58, and just yesterday, it was close to 77. That means two things. One, the drop is just the gains cooling off, and the long-term Pi Network forecast is still bullish. Second, it could be a reversal as the upgrade becomes a sell-the-news event.

Therefore, if Pi Network price is going to rally with the Protocol 22 upgrade, it may go as high as $0.20. The best thing is that Consensus 2026 will add to this momentum.