Pi Network edged back above the $0.15 mark on Wednesday after the team pushed a major mainnet upgrade, though the token still faces pressure after recent losses. At the time of writing, PI was trading around $0.1518 as market observers weighed the infrastructure wins against lingering bearish momentum.
What changed under the hood
- The Pi Core Team confirmed that key mainnet nodes were upgraded to Stellar protocol version 23, underscoring Pi’s reliance on Stellar’s infrastructure.
- The release included several backend modernizations: the operating system was migrated from Ubuntu 20 to Ubuntu 24, and the database engine was bumped from PostgreSQL 12 to PostgreSQL 16.
- These updates are intended to boost network performance, strengthen security, and improve long-term scalability as the Pi ecosystem matures.
Price outlook — technicals to watch
- Short-term charts remain tilted bearish. PI is trading below both the 50-period EMA (~$0.1605) and the 200-period EMA (~$0.1709), keeping the broader outlook negative.
- However, momentum indicators show potential for a rebound: the 4-hour RSI has sunk to about 29, signaling oversold conditions and forming a positive divergence as price nears Tuesday’s low at $0.1463. Positive divergence often precedes a short-term bounce.
- The MACD sits flat below zero, which points to fading bearish momentum but doesn’t yet confirm a trend reversal.
- Key levels: a break and close above the descending trendline resistance near $0.1519 could pave the way toward the 50-EMA (~$0.1605) and then the 200-EMA (~$0.1709). Conversely, a daily close below $0.1463 would undermine rebound prospects and could invite further downside.
Bottom line
The mainnet upgrade is a clear technical win for Pi’s infrastructure and long-term roadmap, yet market sentiment remains cautious. Traders will be watching whether the recent oversold signals translate into buying momentum around $0.1519 — or if a breach of $0.1463 accelerates the sell-off.
Read more AI-generated news on: undefined/news
