PI Network's token is trading sideways between $0.165 and $0.178, currently trapped below a key resistance level at the 20-day Exponential Moving Average (EMA) of $0.175. The flattening MACD indicator suggests waning selling pressure, hinting at a tentative bullish divergence.

Node operators are facing a hard deadline of April 27 to upgrade to Protocol 22 or risk disconnection from the network. This precedes the anticipated launch of Protocol 23 on May 18, which is expected to introduce smart contract functionality—a potential inflection point for developer activity and ecosystem growth.

Despite these significant technical upgrades, market sentiment remains cautious. 'The infrastructure improvements are meaningful, but price action needs to confirm the bullish narrative,' noted a Singapore-based trader, who is monitoring the next major resistance at the 100-day EMA around $0.19.