Pi Network trades at $0.1271 on June 12, sitting on the same historical support floor it has tested twice this month, as 16M tokens unlocked in a single day on June 11 while exchange outflows totaled just 259,000 PI the same session.
The daily chart has a clear downside scenario mapped out. All four EMAs sit overhead in bearish order: 20 at $0.1363, 50 at $0.1506, 100 at $0.1644, and 200 at $0.2111. A descending wedge has been compressing price since May, and the breakdown arrow on the chart points directly toward $0.0998, the next major psychological support.
MACD lines are converging near zero at -0.0088 on both signal and MACD line. A cross above zero would be the first bullish signal this indicator has produced in weeks. Until that happens, sellers retain full technical control.
- Resistance: $0.1363 (20 EMA), $0.1295 (wedge breakdown level)
- Support: $0.1200 (historical floor), $0.0998 (next major target)
Pi Network released its second test token SLICE on June 11, connected to Slice of Pi, a live gaming app using Pi payments and the Pi Ad Network. The first test token IRRA attracted 478,000 participating Pioneers who staked 36.05M Test-Pi, but the experience exposed two problems: users found staking and committing confusing as separate steps, and many staked without proceeding to commit.
SLICE fixes both. Participation now centers on a single commitment amount, with the fair-access hold calculated automatically and both transactions confirmed from one screen. The hold scales progressively with commitment size to prevent larger wallets from crowding out smaller participants. SLICE stays open until Pi2Day on June 28.
The distinction from IRRA is real utility data. Because SLICE connects to a working app, Pi collects genuine engagement metrics that inform how the Mainnet Launchpad version will function.
PiScan data shows 119M PI scheduled for release before June ends. On June 11 alone, 16M tokens unlocked while only 259,000 PI flowed out of exchanges. That gap requires an 8x increase in buying pressure just to prevent PI from losing the $0.1200 floor entirely. Current market conditions offer no signal that demand is building anywhere near that pace.
Protocol 25 deadline lands June 18, which adds another variable. A smooth upgrade could restore confidence and pull fresh buyers in. A fragmented rollout where nodes miss the deadline does the opposite at the worst possible moment.
- Upside: A hold above $0.1200 and a MACD zero-line cross targets $0.1363. A successful Protocol 25 rollout on June 18 adds a narrative catalyst that could push PI back toward $0.1506.
- Downside: A daily close below $0.1200 with continued unlock pressure removes the only floor PI has held since listing, opening a direct path to $0.0998.
