Pi Network (PI) extended its trading recovery on Thursday, stabilizing above the $0.082 mark after defending a key technical demand area earlier in the week. Market sentiment around the token received a boost following an announcement by the Pi Core Team detailing the roadmap for the Protocol 26 Mainnet upgrade. The update sets an explicit and mandatory migration deadline of August 11 for network participants. Coupled with a subtle decline in overall selling momentum across technical indicators, market participants are eyeing potential upside stabilization in the near term.
Mainnet Migration Milestones: Protocol 26 and Protocol 27
According to updates released by the Pi Core Team, the implementation of Protocol 26 marks a decisive operational milestone leading directly into the final planned upgrade, Protocol 27. The development team has successfully completed 8 systematic upgrades over recent months. These concluding two protocol enhancements are designed to align the network with state-of-the-art blockchain architecture, improved execution capabilities, and expanded ecosystem functionality.
In immediate market terms, the mainnet upgrade roadmap has delivered steady support to token valuation. PI advanced by more than 4% on Wednesday and maintained its position firmly above $0.082 during Thursday's trading session. Investors and community members are paying close attention to the August 11 migration cutoff, which serves as a prerequisite for full mainnet capability.
Technical Structure: Key EMAs, Support, and Resistance Boundaries
Despite recent gains, the broader technical layout for PI retains a cautious tone as price action continues to sit below significant trend-defining moving averages. The token is priced at $0.082 on Thursday, well under its 50-day Exponential Moving Average (EMA) at $0.104, 100-day EMA at $0.125, and 200-day EMA at $0.165.
The previous downtrend resistance line, which was breached around $0.096, currently acts as the first overhead hurdle for bullish recovery attempts. Technical indicators provide nuanced signals: the Relative Strength Index (RSI) sits near 37, pointing to weak yet stabilizing buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) line has turned slightly positive, indicating modest easing of downside momentum rather than a definitive structural trend reversal.
To the upside, primary resistance is located at the former trendline break near $0.096, followed by the 50-day EMA at $0.104 and a horizontal barrier at $0.118. Further up, the 100-day EMA ($0.125) and 200-day EMA ($0.165) represent heavy overhead supply zones. On the downside, the key support floor to monitor is positioned at $0.075. A sustained closing breakdown beneath $0.075 could expose the asset to deeper losses, whereas holding above this floor keeps PI in a range-bound consolidation phase below the moving average cluster.
Altcoin Overview: Ripple (XRP) and Stellar (XLM) Technical Levels
Across the broader altcoin sector, Ripple (XRP) and Stellar (XLM) are navigating crucial chart support regions. XRP has held above the psychological $1.00 handle, trading near $1.07 on Thursday with a 52-week boundaries ranging from $1.01 to $2.41. Technical readings show an RSI(14) of 44, an EMA50 of $1.13, and an EMA200 of $1.46, maintaining a long-term death cross structure on daily charts.
Stellar (XLM) continues to test support near $0.173. Derivatives market signals present a mixed picture, leaving immediate price direction uncertain for both assets. Data from CoinGlass shows the long-to-short ratio for XRP standing at 1.02 on Thursday, reflecting neutral positioning among active derivatives traders.
Robinhood Delivers Record Q2 Financial Results
In financial platform news, Robinhood reported record revenue for the second quarter of the year. According to earnings results published on Wednesday, total net revenue expanded 32% year-over-year to hit $1.31 billion. The revenue expansion was propelled by robust trading activity across equity products, options contracts, and event-based prediction contracts, demonstrating sustained engagement among retail market participants.
Federal Reserve Interest Rate Decision Spurs Ethereum Advance
On the macroeconomic front, the Federal Reserve concluded its July FOMC meeting on Wednesday by opting to keep its benchmark interest rate unchanged in the range of 3.50% to 3.75%, matching consensus expectations. Meeting minutes noted that economic activity expanded at a firm pace despite ongoing global uncertainty, with employment gains keeping speed with labor force growth.
Following the central bank's policy decision, Ethereum (ETH) climbed back above the $1,900 threshold on Wednesday. Analysts at CryptoQuant noted that spot and derivatives trading volumes for the premier altcoin had remained range-bound ahead of the announcement as institutional and retail traders awaited official guidance from the Federal Reserve.
