The PI token is showing a bullish falling wedge pattern with potential to rise 22% to $0.20, supported by upcoming catalysts like the Protocol v23 smart contract upgrade on May 18 and a Kraken exchange listing. Despite daily token unlocks adding sell pressure, a major whale accumulation and technical indicators suggest a rebound is likely if PI holds above $0.15. The v22.1 node upgrade deadline on April 22 is a key milestone for the smart contract launch, which will transform PI from a payment token into a programmable platform for DeFi and gaming applications. Traders are watching these developments closely as they could drive buying volume to absorb unlocked tokens and push prices higher.
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