Pi Network Price hovered at $0.169 on Thursday after a 5% surge ahead of the protocol upgrades deadline on March 1. The Pi coin remained steady above the $0.16 level as sentiment improved across major cryptocurrencies.
Buy interest is slowly coming back, and bulls are trying to drive Pi coin price up to the $0.20 mark. The recent surge is after a few weeks of correction, which burdened performance across the wider digital asset market.
Pi Network Sets March 1 Deadline for Mandatory Mainnet Node Upgrade
Pi Network has set March 1 as the final deadline for node operators to complete a required protocol upgrade across the Mainnet. The update is the second step of more general enhancements aimed at enhancing the Pi Mainnet blockchain infrastructure.
Like the updates made in mid-February, these enhancements to the protocol will be gradually rolled out. At this second stage, upgrading should also be completed by all node operators before the next Sunday, March 1, deadline.
The team made it clear that those nodes that do not update in time will stop communicating with the network.
According to developers, this is a condition that is mandatory to all active participants in the Mainnet. It was advised to the operators that they should check the official Pi Nodes page to have detailed technical guidelines and additional explanations.
Pi Network introduced the fourth role of nodes, which are the critical elements of the system reliability of the ecosystem.
Nodes authenticate the transactions mentioned on the distributed ledger and ensure that the network meets the standards of a network consensus. They also solve consensus issues that are likely to occur within the decentralized infrastructure when processing transactions.
The nodes have to reach an agreement over the order and validity of new transactions before they can be validated.
It is a coordinated validation mechanism that is used to maintain the accuracy of ledgers, transparency, and manipulation resistance.
The project ascertained once again that nodes can only be used with either laptops or desktop computers to participate in Mainnet. The environment required to facilitate stable node operations is not available in mobile devices.
Pi Network still uses Stellar Consensus Protocol as a blockchain to achieve decentralization of transaction agreement. The deadline is being closely followed by market watchers as the token unlock events get to the major dates.
PI Coin Price Prediction: Can Momentum Push PI Toward $0.20?
The PI coin traded to $0.1685 after a 5% surge over the past 24-hours. The relocation occurred after consistent purchasing across key exchanges.
The technical indicators point to the slow growing momentum. The Relative Strength Index is trading at 53 on the four-hour chart. This reading positions PI in a neutral position with the potential to improve.
Meanwhile, the MACD indicator exhibits initial signs of bullish crossovers. Recent weakness has caused histogram bars to become slightly positive. The signal lines are trying to bend upwards. This arrangement usually forecasts of short term continuity.
Immediate resistance stands near the $0.18 level. A decisive break above $0.18 could open the path toward $0.20, as per the full Pi Coin forecast report. That zone marked the recent spike high earlier this month.
Source: PI/USDT 4-hour chart: TradingviewOn the downside, the support is observed at $0.16. This level has drawn buyers in many occasions during pullbacks. A fall below 0.16 can reveal the following important floor at $0.14.
Source: https://coingape.com/markets/pi-network-price-prediction-ahead-of-protocol-upgrades-deadline-on-march-1/
