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Pi Network price outlook amid Protocol 22 upgrade, ahead of the May Protocol 23 upgrade

  • Protocol 22 has boosted the scalability of Pi Network ahead of smart contracts in May.
  • Pi must break $0.190 to target $0.2045 and $0.220.
  • Key support at $0.1832 remains crucial for bullish momentum.

Pi Network (PI) token traded near $0.1893 on April 28 after gaining roughly 5.8% in 24 hours and more than 10% over the past week, reflecting stronger market interest as the network moves through a critical development phase.

The recent recovery is notable considering the asset’s all-time low of $0.1312 in February 2026, while still sitting far below its February 2025 peak of $2.99.

Protocol 22 mainnet upgrade

Notably, the price surge comes as Pi Network completed its Protocol 22 mainnet upgrade on April 27, a major infrastructure update designed to improve scalability, transaction throughput, and overall network readiness for decentralised applications.

Protocol 22 is widely seen as a foundational step before the expected Protocol 23 rollout in May, which is projected to introduce smart contracts and expand Pi Network’s ecosystem with broader decentralised finance (DeFi) and cross-chain functionality.

More than 10 billion PI tokens have already migrated to Mainnet, with approximately 6 billion remaining locked.

This large locked supply continues to limit immediate sell pressure while also supporting market attention around future utility expansion.

For many traders, the upcoming Protocol 23 release is even more important since smart contract functionality could significantly expand PI’s practical use cases beyond peer-to-peer transfers by allowing developers to build decentralised applications directly on the network.

Technical indicators show improving momentum

Current technical analysis suggests Pi is attempting to form a double-bottom breakout pattern, with the neckline sitting near $0.190.

A confirmed move above this level could push the price toward $0.2045, while a stronger continuation may open the path toward $0.220.

According to aggregated market indicators, a majority of technical indicators signal that the short-term momentum is leaning positive.

Moving averages are especially supportive, with PI currently above its 10-day, 20-day, 50-day, and 100-day exponential moving averages, reinforcing short-term strength.

However, the token still trades below its 200-day EMA, which suggests broader macro resistance remains in place.

The 14-day Relative Strength Index stands at 63.96, placing PI coin in neutral territory without signalling immediate overbought conditions.

On the weekly timeframe, RSI is closer to 36.01, which indicates that PI may still be recovering from previously oversold conditions.

Pi Network price analysis

Pi Network price forecast

Looking at the price targets that traders should consider moving forward, the immediate support sits at $0.1832.

A drop below this level may weaken short-term bullish momentum and expose Pi Network (PI) to downside pressure toward $0.1670, with deeper losses potentially reaching $0.1322.

On the upside, the first major resistance is $0.1884. A breakout above this level would strengthen breakout potential and could send PI coin toward $0.1926.

If bulls successfully clear the broader $0.190 neckline, the next major target becomes $0.2045. A sustained breakout above that level may extend gains toward $0.220.

Looking further ahead, broader 2026 projections place PI’s possible trading range between $0.1121 and $0.5246, depending largely on successful ecosystem expansion, smart contract adoption, and broader crypto market conditions.

The post Pi Network price outlook amid Protocol 22 upgrade, ahead of the May Protocol 23 upgrade appeared first on CoinJournal.

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PENGU token jumps 14% amid Pudgy Penguins floor price pump

  • Pudgy Penguins (PENGU) price touched $0.010 amid double-digit gains.
  • The token surged as the Pudgy Penguins floor price pumped.
  • Other non-fungible tokens also soared, including the Bored Ape Yacht Club.

Pudgy Penguins’ native PENGU token is up double digits in the past 24 hours, riding high on skyrocketing floor prices to touch three-month highs.

This surge comes amid notable price increases in the Pudgy Penguins NFT, with other tokens related to the sector also experiencing significant gains.

However, an uptick for Bitcoin and Ethereum fizzled on Monday, a scenario that puts the tokens’ prices in danger of retreating amid profit-taking.

Pudgy Penguins soars 14% amid NFT price gains

Data shows top non-fungible token collections are experiencing a remarkable resurgence, with floor prices extending their upside momentum.

Pudgy Penguins currently leads the charge as its floor price climbs above 5 ETH, with over 20% in weekly gains.

Market data highlights this momentum, with over 20 sales and nearly 1,000 ETH in trading volume over the past seven days.

The Bored Ape Yacht Club (BAYC) NFT boosts similar metrics and shows an 81% spike in floor price over the last 30 days.

Yet, this optimism contrasts with contracting overall NFT market participation.

Global sales, transactions, and active users have nearly halved since February, even as average sale prices have more than doubled.

This divergence suggests a concentration of capital among high-value collections like Pudgy Penguins, potentially signaling selective bullishness rather than broad recovery.

Notably, PENGU price is up 40% over the past week, and the 14% gain in the last 24 hours has pushed it to above $0.010 for the first time since late January.

Pudgy Penguins is in double digits up year-to-date.

​Pudgy Penguins price analysis

Analysts attribute the NFT rally primarily to surging cryptocurrency prices, with Bitcoin (BTC) recently touching $80,000 and Ethereum (ETH) reaching $2,400.

The broader market sentiment looks to have amplified demand for top-tier NFTs, where Pudgy Penguins has stood out with elevated transaction counts accompanying its price climb.

In the market, surging floor prices typically reflect strong conviction, and the opposite shows amid declining floor prices.

PENGU gains mirror Pudgy Penguins’ NFT momentum, and the upmove lifts bulls above the $0.008 supply zone.

The surge to above $0.010 makes the 100-day and 50-day moving averages key support levels at $0.0082 and $0.007.

Pudgy Penguins PENGU Chart
Pudgy Penguins price chart by TradingView

Among technical indicators to note is the Relative Strength Index (RSI) that currently hovers above 70, signalling overbought conditions.

Traders may need to watch out for NFT market fatigue or a significant BTC pullback.

If this happens, PENGU price could test lower support levels, including Feb 6 low of $0.0052.

On the flipside, the moving averages hint at a potential golden cross, with price likely to extend towards the YTD peak around $0.014.

The post PENGU token jumps 14% amid Pudgy Penguins floor price pump appeared first on CoinJournal.

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Western Union CEO hints at Solana-based stablecoin USDPT launch in May

  • The USDPT stablecoin will run on Solana and be issued via Anchorage Digital.
  • Launch is planned for May 2026 after final rollout preparations.
  • Western Union links crypto wallets to its global cash network.

The Western Union CEO, during the Western Union’s first-quarter earnings discussion, announced that the company is moving closer to launching its dollar-backed stablecoin USDPT on the Solana blockchain, with a rollout targeted for May 2026.

The update comes after months of internal development around Western Union’s broader digital asset strategy, which aims to combine blockchain settlement with its long-established global cash transfer network.

USDPT moves from concept to near launch

USDPT, short for US Dollar Payment Token, is a fully dollar-backed stablecoin designed to operate on the Solana network.

The token will be issued through Anchorage Digital Bank, a federally regulated crypto institution in the United States.

This structure places regulatory oversight at the centre of the project, while still allowing blockchain-based settlement.

According to details shared by Western Union, the stablecoin will be integrated into a newly developed system known as the Digital Asset Network.

This network will connect crypto wallets, exchanges, and digital platforms directly to Western Union’s physical cash-out infrastructure, which spans more than 200 countries and hundreds of thousands of agent locations worldwide.

The system is designed to allow users to move between digital dollars and physical cash without relying on traditional banking intermediaries.

Users will be able to send USDPT on-chain and withdraw local currency at Western Union locations.

Solana chosen for speed and scale

Solana has been selected as the underlying blockchain for USDPT due to its high throughput and low transaction costs.

The network can process thousands of transactions per second, with settlement times measured in seconds.

This aligns with Western Union’s requirement for high-volume remittance flows.

Notably, Western Union processes millions of cross-border transactions annually, many of which involve small-value transfers.

The company has highlighted that traditional settlement systems often take several days and rely on multiple intermediary banks, while, in contrast, USDPT on Solana is expected to reduce settlement time to near-instant execution while lowering operational costs.

Anchorage Digital Bank will handle issuance and custody, ensuring that each USDPT token remains fully backed by US dollar reserves under regulated standards.

Launch timeline set for May 2026

While earlier guidance placed the rollout within the first half of 2026, the latest update narrows the timeline to May 2026.

The project is described as being in its final preparation phase, with technical integration and network testing underway.

The post Western Union CEO hints at Solana-based stablecoin USDPT launch in May appeared first on CoinJournal.

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Hyperliquid price forecast: HYPE holds above $40 as leverage builds

TL;DR

  • Hyperliquid (HYPE) holds near $42 with a bullish structure above $40.
  • The bullish structure is supported by rising futures Open Interest and positive funding rates. 

Hyperliquid (HYPE) trades above $42 on Monday, sustaining its upward trajectory from an ascending trendline. 

While the broader trend remains constructive, signs of cooling retail interest contrast with a steady buildup in leveraged positions, creating a mixed near-term outlook for the decentralized exchange token.

Retail momentum fades as social dominance drops

Retail-driven momentum appears to be weakening. Data from Santiment shows Hyperliquid’s social dominance has declined sharply to 0.137%, down from 0.688% at the height of the US-Iran conflict in late March. 

The drop suggests reduced retail attention as geopolitical tensions ease, removing a key narrative driver that previously fueled speculative interest in the DEX.

In contrast, derivatives activity is heating up. According to CoinGlass, HYPE futures Open Interest (OI) has climbed roughly 3% over the past 24 hours to $1.65 billion, signaling an increase in outstanding leveraged positions.

Funding rates remain positive at 0.0077%, indicating that long positions continue to dominate. This persistent positive funding over the past month reflects growing bullish conviction among leveraged traders, even as spot-driven retail enthusiasm cools.

HYPE price outlook: Rising wedge puts $40 support in focus

The HYPE/USD 4-hour chart is bullish and efficient as HYPE is consolidating within a rising wedge.

The token remains supported above both its 50-day EMA at $38.98 and 200-day EMA at $34.90, reinforcing the underlying bullish structure.

Momentum indicators suggest steady but controlled upside. The Relative Strength Index (RSI) sits at 56, pointing to positive but not overbought conditions, while the MACD is trending higher toward a bullish crossover, hinting at fading downside pressure.

If the bulls push higher, they would encounter immediate resistance at the $43.71 level, which caps the current recovery and aligns with the upper wedge boundary near $46.80. A decisive break above this zone could trigger a stronger bullish continuation.

However, if the market undergoes a correction, the ascending trendline support near $41.21 remains critical. 

HYPE/USD 4H Chart

A breakdown below this level would likely expose the 50-day EMA at $38.98, with the 200-day EMA at $34.90 acting as a deeper demand zone if selling pressure intensifies.

While Hyperliquid’s structure remains bullish above $40, the divergence between fading retail interest and rising leverage suggests the next move could be determined by whether momentum expands or reduces.

The post Hyperliquid price forecast: HYPE holds above $40 as leverage builds appeared first on CoinJournal.

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Bitcoin’s rally stalls below $80k: Check forecast

TL;DR

  • BTC briefly touched the $79k level during the late hours of Sunday.
  • US-listed spot BTC ETFs recorded inflows of over $820 million last week, marking the fourth straight week of positive flows.

Bitcoin (BTC) edges slightly lower on Monday, trading around $77,873 after securing its fourth consecutive weekly gain since late March. Despite the mild pullback, the broader bullish structure remains intact, underpinned by steady institutional demand. 

However, as BTC approaches the critical $80,000 resistance zone, rising geopolitical uncertainty tied to US-Iran tensions and the Strait of Hormuz is tempering near-term risk appetite.

Institutional demand remains a key factor

Institutional flows continue to provide strong support for Bitcoin’s upward trajectory. According to SoSoValue data, spot Bitcoin ETFs recorded $823.7 million in net inflows last week, following $996.38 million the week prior. 

This marks four straight weeks of positive inflows, reinforcing sustained institutional interest. If the trend persists or accelerates, it could fuel another leg higher for BTC in the near term.
While fundamentals remain supportive, macro uncertainty is capping momentum. Reports suggest Iran has submitted a proposal to reopen the Strait of Hormuz and extend the current ceasefire, aiming to move toward a longer-term resolution. However, the outcome remains uncertain. 

US President Donald Trump reportedly dismissed the proposal as insufficient, while Iranian President Masoud Pezeshkian rejected negotiations under pressure. This backdrop has dampened risk sentiment, prompting a pause in Bitcoin’s recent rally.

Bitcoin price outlook: Bullish bias intact despite resistance

The BTC/USD 4-hour chart remains bearish and efficient. Technically, Bitcoin maintains a constructive outlook despite facing rejection near $80,000. Last week’s 6% gain pushed BTC above the 61.8% Fibonacci retracement level at $78,490, a key resistance zone. 

A sustained move higher could see BTC retest $80,000, with further upside targeting the 200-week EMA at $82,488.

Momentum indicators support the bullish case. On the 4-hour chart, the RSI sits at 54, above the neutral territory, signaling weakening bearish pressure. Meanwhile, the MACD shows a bullish crossover from mid-April, with a rising histogram reinforcing upside potential.

On the upside, immediate resistance lies at $78,962 (50% retracement), followed by the psychological $80,000 level. A breakout above this zone could open the door toward $83,437 (61.8% retracement) and $84,410.

BTC/USD 4H Chart

However, if the bears regain control, initial support sits near $75,680, followed closely by the 100-day EMA at $75,619 and the 38.2% retracement at $74,487. 

A deeper pullback could test the 50-day EMA at $73,363, with further support at $68,950 and the lower channel boundary near $63,033, ahead of the major structural floor at $60,000.

The post Bitcoin’s rally stalls below $80k: Check forecast appeared first on CoinJournal.