PI Holds $0.083 Support as SLICE Testnet Token Completes Distribution
Pi Network's second testnet token, SLICE, finished distribution as PI clings to $0.080-$0.082 support below a $0.159 200-period MA.
PI is one of the few altcoins trading higher against a broadly red market on July 25, up roughly 1.5% to around $0.083, as Pi Network confirmed the completed distribution of SLICE, its second testnet token, through the Pi Launchpad.
The move keeps PI pinned just above the $0.080-$0.082 support band that has repeatedly attracted buyers over the past week, even as the broader chart structure remains bearish. The mild bounce coincides with fresh product news from the Pi Core Team rather than any shift in macro risk appetite.
SLICE distribution wraps inside the Pi Launchpad
Pi Network announced on July 24 via its official @PiCoreTeam account that the Pi Launchpad had finished distributing SLICE, the network’s second Testnet token after an earlier pilot token. The Launchpad interface inside the Pi Browser now surfaces individual allocation details, the launch and effective token prices, direct access to the SLICE liquidity pool, and a chart tracking the SLICE-to-Test-Pi exchange rate.
The team framed the rollout as a chance for Pioneers to interact directly with liquidity pool mechanics through the new price-tracking feature, directing users to the Pi mining app for further detail on how the launch and pool function.
According to the announcement, feedback from the first testnet token exposed friction points in the Launchpad participation flow. The updated version simplifies that process around a single commitment amount and what Pi Network calls a “fair-access hold,” intended to standardize how allocations are distributed across participants before any mainnet equivalent is considered.
Chart structure still favors sellers
On the 4-hour PI/USDT chart, price has printed a consistent sequence of lower highs and lower lows since late April, with every relief rally sold into. PI currently trades well beneath its declining 200-period moving average, which sits near $0.159 — a gap that underscores how damaged the medium-term trend remains until that average is reclaimed.
The $0.080-$0.082 zone is the immediate line of defense; a clean break below it would expose the recent swing low around $0.070-$0.073, with $0.065 as the next downside level if that support also gives way. On the way up, resistance clusters at $0.090-$0.095, then a firmer supply band at $0.100-$0.105 where prior rebounds have stalled, with $0.120-$0.130 marking the next major hurdle for bulls.
The 14-period RSI sits near 37 — below neutral but still above oversold territory — pointing to dominant but potentially fading bearish momentum. A push back above the 45-50 RSI zone would be the first technical signal of buyers regaining control, while a slip under 30 would likely coincide with another leg lower.
A recent bounce from roughly $0.072 toward $0.098 failed to set a higher high before price drifted back toward support, reinforcing the broader downtrend. Reduced candle volatility versus the heavier selloff earlier in July hints the market may be consolidating rather than accumulating a directional break, with $0.080-$0.095 the likely near-term range absent a volume-backed move.
What the desk is watching
For traders, the SLICE rollout is a product signal, not a liquidity event for PI itself — the token operates within the Testnet environment via the Pi Browser rather than on open markets. Any near-term PI price reaction is therefore more likely to reflect sentiment around continued ecosystem development than direct token-supply mechanics.
A sustained move above $0.095-$0.100 with rising volume and an RSI recovery past 50 would be the clearest technical confirmation that buyers are stepping back in, opening a path toward $0.110-$0.120. Until then, the setup remains a range trade bounded by $0.080 support and $0.095 resistance, with the 200-period moving average at $0.159 still a distant reclaim level for any structural trend change.