Following Pi Network's recent mainnet node upgrade, market sentiment improved, driving the native token PI up by over 9% in the past week. The project team stated that most mainnet node operators have completed the Protocol v25 upgrade and urged other nodes to update their systems as soon as possible.

Most mainnet nodes have been upgraded

This update follows another network upgrade earlier this year. One of the goals of that previous upgrade was to further enhance the network's decentralization. The latest developments show that the mainnet node upgrade has entered a phase of wider implementation, which has become a direct catalyst for the short-term price rebound.

PI rose to around $0.14

Driven by the upgrade news, PI prices rose to around $0.14, continuing the rebound of the previous two days. However, the $0.14 area has formed significant resistance multiple times in June, with selling pressure reappearing at this level, limiting further gains.

Judging from the current trend, although PI has recovered some of its losses from the previous week, the selling pressure above has not subsided significantly. If this resistance level remains effective, the price may still fall back to around $0.13 in the short term, or even lower.

Market sentiment has fallen back to near neutral.

During the node upgrade, market sentiment surrounding PI briefly turned positive, coinciding with the recent two-day price increase. However, sentiment indicators subsequently retreated from a slightly positive stance, approaching neutral levels, indicating that the divergence between bulls and bears remains.

In the absence of new positive ecosystem developments, PI's future direction will likely continue to be influenced by Bitcoin's price movements. If Bitcoin maintains its rebound, PI has a chance to continue testing the $0.14 level; however, if the overall market weakens, the current rebound may face greater pressure.