Following the recent upgrading of the main network, Pi Network has experienced an increase in market sentiment, leading to an increase of the original currency PI to more than 9% in the past week. The projecter indicated that most main node operators had completed the upgrade of Protocol v25 and urged the remaining nodes to update the system as soon as possible.
Most main nodes upgraded
This update took place after another upgrade of the network earlier this year. One of the objectives of the previous upgrades was to further upgrade the decentralization of the network. Recent progress indicates that the upgrading of the main node has entered a wider landing phase, which is a direct catalyst for a short-term price rebound.
PI up to around 0.14.
Driven by an upgrade, the PI price went up to around 0.14 dollars, continuing the rebound of the previous two days. However, the United States dollar area has repeatedly created significant resistance in June, and the re-emergence of the sale of pallets at this location has limited the continued increase.
In the light of current trends, PI, although recovering part of the decline in the previous week, did not significantly recede from the upper discharge. If this resistance position continues to be effective, the price line may fall back to the US$ 0.13, or even lower.
Market sentiment has returned to neutral proximity.
During the upgrade, the market sentiment surrounding the PI briefly turned positive and appeared in parallel with the recent two-day rise. But then the emotional indicators fell from a positive to near-neutral levels, indicating that there was still too much disagreement.
In the absence of new eco-benefits, the PI follow-up direction is likely to continue to be affected by Bitcoin movements. If bitcoin maintains the rebound, PI has the opportunity to continue testing the 0.14-dollar upper space; if the big roll is weak, the current rebound may be under greater pressure.