Pi Network Reclaims $0.1500 After Mainnet Upgrade 🔥
The Pi Network has reclaimed the crucial $0.1500 level after dropping below this area on Tuesday, following a major mainnet upgrade to its nodes. The positive performance continues as PI trades around $0.1518 today, extending recent losses while technical indicators hint at a short-term rebound.
Key takeaways:
- PI has reclaimed the $0.1500 level after dropping below this critical area on Tuesday.
- The project's reliance on the Stellar blockchain infrastructure is evident with major mainnet nodes upgrading to version 23 of the Stellar protocol, including backend improvements like migrating from Ubuntu 20 to Ubuntu 24 and PostgreSQL 12 to PostgreSQL 16.
The latest upgrade aims at improving network performance, security, and long-term scalability. Momentum indicators suggest that despite underperformance, buying pressure may be weakening, with the Relative Strength Index (RSI) near oversold levels and forming a positive divergence as price approaches $0.1463.
A successful breakout above the resistance level of $0.1519 could open a path for a stronger recovery toward important support zones like $0.1605 and $0.1709. However, a daily close below $0.1463 could trigger additional downside pressure.
The Pi Network's infrastructure progress is ongoing, with the community and core team working towards a more resilient and efficient network.
Are you bullish on PI as it recovers from recent drops? 👇
#PI #Stellar #PiNetwork