Pi Network Reclaims $0.1500 After Mainnet Nodes Upgrade to Stellar v23
Pi Network has reclaimed the $0.1500 level after a mainnet upgrade. On Wednesday, Pi Network reversed its short-term downtrend and traded around $0.1518 at the time of writing, extending recent losses but holding above the key psychological level.
Pi Core Team said major mainnet nodes upgraded to Stellar protocol version 23. The update also included backend improvements, including migrating from Ubuntu 20 to Ubuntu 24 and upgrading the database engine from PostgreSQL 12 to PostgreSQL 16. Pi Core Team framed these changes as support for better network performance, security, and long-term scalability.
Technically, the Pi Network outlook remains cautious. The PI/USD 4-hour chart is still bearish, with price below the 50-period EMA near $0.1605 and the 200-period EMA around $0.1709. However, momentum signals suggest selling pressure may be weakening: RSI is near 29 (oversold) and is forming a positive divergence as price approaches Tuesday’s low of $0.1463.
If buying momentum increases, Pi Network could retest descending trendline resistance near $0.1519. A breakout above $0.1519 may open a move toward the 50-EMA ($0.1605) and then the 200-EMA ($0.1709). On the downside, a daily close below $0.1463 would weaken the rebound thesis and likely invite further downside.
Bullish
The news is supportive but not a full trend flip. The main catalyst is Pi Network reclaiming $0.1500 after its mainnet nodes upgraded to Stellar protocol v23, which can improve trader sentiment and near-term demand. However, the article’s technical picture is mixed: the 4-hour chart is still bearish and price remains below the 50-EMA (~$0.1605) and 200-EMA (~$0.1709).
That said, momentum signs point to a potential short-term rebound: RSI is near oversold levels (~29) and a positive divergence forms near the $0.1463 low. This resembles common post-upgrade/major-infrastructure setups where early selling pressure fades, enabling a bounce toward nearby resistance (here, $0.1519, then ~$0.1605).
For traders, the key is confirmation. A breakout above $0.1519 would likely attract momentum buyers and extend upside. Conversely, a daily close below $0.1463 would invalidate the rebound and shift the bias back toward downside, making this more of a “bounce attempt” than a confirmed long-term reversal.