Pi Network briefly halted its slide Wednesday, nudging back above the $0.15 mark after a major mainnet upgrade — though the token still faces near-term selling pressure.
What happened
- The Pi Core Team confirmed that key mainnet nodes have been upgraded to Stellar protocol version 23, underscoring Pi’s reliance on Stellar infrastructure.
- The rollout also included important backend updates: the OS was migrated from Ubuntu 20 to Ubuntu 24, and the database engine was bumped from PostgreSQL 12 to PostgreSQL 16. The changes are intended to boost network performance, security, and long-term scalability as the ecosystem develops.
Price action and technical outlook
- At the time of writing PI was trading around $0.1518. Despite the upgrade-driven bounce above $0.15, the short-term trend remains bearish. PI sits below both the 50-period EMA (~$0.1605) and the 200-period EMA (~$0.1709), signaling broader downside pressure.
- Momentum hints at a potential short-term rebound: the RSI has fallen near 29 (oversold) and is forming a positive divergence as price approaches Tuesday’s low of $0.1463 — a setup often seen before a bounce. The MACD is flat below zero, suggesting fading bearish momentum but not yet a confirmed bullish turn.
- Key levels to watch: a successful push above the descending trendline resistance near $0.1519 could open the way for a recovery toward the 50-EMA (~$0.1605) and, if momentum continues, the 200-EMA (~$0.1709). Conversely, a daily close below the $0.1463 low would likely invalidate rebound hopes and risk further losses.
Bottom line
The infrastructure upgrade is a meaningful step for Pi’s network health and scalability, but traders should be cautious: technicals show weakening selling pressure that could spark a short-lived bounce, yet the token remains in a broader downtrend until it reclaims higher EMAs or breaks key resistance.
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