Pi Network price breaks out of falling wedge as devs reveal mainnet v22 upgrade details

Technical indicators seem to portray that the bulls are firmly in control of the current momentum. Notably, the Aroon Up indicator is sitting at 92.86% while the Aroon Down has plunged to 0%, which is a clear sign that a new uptrend has begun and the previous bearish cycle has completely dissipated.

Meanwhile, the Chaikin Money Flow index has climbed to a reading of 0.23, suggesting that significant capital is flowing into the asset as traders position themselves for the mainnet upgrade.

For now, the next immediate target for the token price lies at $0.204, which represents a major psychological barrier and a recent local high.

On the contrary, a drop below $0.163 would invalidate the current bullish thesis and could lead to a deeper correction as the network awaits further fundamental developments.