Pi Network Token Surges Following Major Node Upgrade

Pi Network’s native token, PI, has recently experienced a notable 9% recovery in its weekly value, largely fueled by a significant technical milestone. The project confirmed that a majority of its mainnet node operators have successfully transitioned to the new Protocol v25 version, sparking a wave of bullish sentiment across the community. This upgrade serves as a follow-up to earlier network enhancements aimed at increasing decentralization and stabilizing the ecosystem's infrastructure.

Technical Momentum Meets Resistance

The node upgrade acted as a primary catalyst, driving the price of PI toward the $0.14 mark. However, this recovery is currently testing a critical "sell wall" that has historically limited upside potential throughout the month of June. Market data reveals active selling pressure at this level, as evidenced by candlestick wicks on shorter timeframes. If sellers maintain their positions, the token may struggle to sustain its climb, potentially facing a rejection that could pull prices back toward the $0.13 support zone.

Market Sentiment and the Bitcoin Factor

While the network upgrade briefly flipped market sentiment into positive territory, the momentum has since leveled off to a neutral stance. Analysts suggest that PI’s next major move will likely be influenced by the broader crypto market, specifically the performance of Bitcoin. A sustained rally in Bitcoin toward $66,000 could provide the necessary tailwinds for PI to shatter its current resistance and target the $0.15 range. Conversely, if Bitcoin slips toward the $60,000 mark, PI may follow suit, erasing its recent gains as cautious traders look for more stable entries.