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Pi’s Price Takes On The Low-Mid Band Ahead Of ‘Protocol 28’

Pi’s Price Takes On The Low-Mid Band Ahead Of ‘Protocol 28’

DailyCoinDailyCoin2026/10/05 19:45

Pi Network’s (PI) Core team just unleashed the Protocol 28 on the testnet, following a successful implementation of the Protocol 27 on the mainnet. The newest one is aimed at handling delays in transaction data.

Pi’s Getting Ready For This Stellar-Like Upgrade

With the Protocol 28, Pi’s developers are now able to single-handedly lift the status of smart-contract groups. All Pi Network’s (PI) node validators are now ought to upgrade to the Stellar-inspired Protocol 28 by October 13, 2026.

The mainnet upgrade is slated to kick in on October 16, 2026. The previous protocol upgrade came along with the clearance of 417,000 Know Your Customer (KYC) flags, allowing more Pioneers to transfer their earnings onto the mainnet.

Pi’s Stuck In Between Low & Mid Bollinger Bands

Currently, Pi’s market cap stands around $977,468,372, but the stagnant Spot market volumes suggest a lack of demand: the 24-hour figures barely reached $5 million, while similar-ranked peers like Polygon (POL), Algorand (ALGO) & Lighter (LIT) inked between $66.32 million to $107.69 million, per CoinGecko.

Meanwhile, the altcoin’s Open Interest (OI) on decentralized exchanges (DEXs) has piled up to $31 million. Coinalyze data points to a heavy short-selling build-up at the $0.086 support level. The nearly $6 million added in one day puts the crypto bears at the driving seat as short-selling dominates the near-term picture.

The TradingView 4-hour chart for Pi Coin shows recent Pi price action underwater after earlier volatility, with RSI near 38 reflecting oversold momentum and ADX at 18.10 indicating a weak bearish trend. The Bollinger Bands (BOLL) say Pi’s stuck between the low & mid price ranges.

So, not much on the bullish side shall be expected until Pi Coin’s (PI) price restores the $0.09 confluent resistance level. Conversely, a decisive Pi price break below the $0.085 support line risks exposing the next level at $0.0767, underscoring current bearish technical risks for the mobile-mining crypto currency.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Updated Version 3 - According to the Financial Times, McKesson and CD&R are close to reaching a deal worth more than $5 billion to acquire Option Care.

In the fifth paragraph, a quote from analyst Sahil Pandey was added. Reuters, October 5 - According to the Financial Times, citing informed sources, pharmaceutical distributor McKesson (MCK.N) and private equity firm Clayton Dubilier & Rice are about to reach an acquisition agreement to purchase infusion service provider Option Care Health, with the deal valued (including debt) at over 5 billions USD. After the report was published, Option Care's share price rose by 21% in after-hours trading. The report stated that the deal could be announced as early as Tuesday, but negotiations could still fall through. This potential acquisition would be McKesson’s latest move in expanding its healthcare services portfolio. In August this year, the company agreed to acquire Precision Medicine Group for about 2.25 billions USD (link), as part of its effort over the years to strengthen high-growth business sectors. Leerink Partners analyst Michael Cherny said the “strategic logic” of the deal makes sense, as it would expand McKesson’s business from physician offices to care settings in the home and alternative sites. Option Care provides infusion services that allow patients to receive intravenous treatments at home or other outpatient settings, eliminating the need to go to the hospital. McKesson has previously been restructuring its business portfolio by divesting non-core assets and investing in fields such as oncology and specialty care (link). Driven by the growth of its specialty distribution business and contributions from acquisitions, revenue for its oncology and multi-specialty business segment grew by 33% in the latest fiscal quarter. McKesson declined to comment, while CD&R and Option Care did not immediately respond to Reuters’ requests for comment regarding the report. (For non-English speakers' convenience, Reuters offers automated machine translations of its reports in several languages. As there may be mistakes in the automated translations or some context may not be included, Reuters does not guarantee the accuracy of the automated translation text, which is provided solely for readers’ convenience. Reuters bears no responsibility for any damages or losses caused by the use of automated translation functions.)

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