Pi Network's price surged 5% to approximately $0.169, maintaining support levels ahead of a critical March 1 deadline for Mainnet node protocol upgrades. The network has mandated that all node operators complete the upgrade by this date to ensure continued communication with the network. This upgrade is part of broader infrastructure improvements, with non-compliant nodes facing disconnection.
The importance of nodes in maintaining system reliability and consensus was emphasized, as they validate transactions and ensure ledger accuracy. The Pi Network uses the Stellar Consensus Protocol, requiring coordinated validation among participants. The upgrade is crucial for maintaining network stability as Mainnet activity evolves.
Technically, Pi Network's price faces resistance at $0.18, with support at $0.16 and $0.14. The Relative Strength Index indicates neutral momentum, while the MACD suggests potential bullish continuation. The March 1 deadline could influence price movements, with traders eyeing a potential rise towards $0.20 if resistance is breached.
Pi Network Price Rises 5% as March 1 Mainnet Upgrade Deadline Approaches
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