Pi Network Token Defies Downtrend with 4.81% Weekly Gain Outpacing Bitcoin

Pi Network's token has outperformed Bitcoin in the past week, rising by 4.81% compared to Bitcoin's 2.13%. This comes as developers rolled out new tools for the network, including local storage support and access to app-specific staking data.

The price increase is a significant development for Pi Network, which has been struggling with a broader downtrend in the market. The token broke out of a month-long trading range between $0.085 and $0.093, with the old resistance becoming new support.

However, technical analysts warn that the daily chart still shows a bearish structure, with key swing levels at $0.139 on the high side and $0.070 on the low side. A move above $0.1395 is needed to confirm a genuine long-term trend reversal.