Pi Network (PI) gained 22% from July lows as of latest reports, with the token trading at $0.093 after successfully retesting the upper trendline of a broken descending wedge pattern. According to latest reports, the token printed a green candle following the retest, confirming that the breakout was not a false move. The three-step process of breakout, retest, and bounce provides textbook validation of the wedge breakout setup. The daily chart shows PI completing the full breakout sequence from a descending wedge that had compressed price since late June. The token had previously gained more than 11% this week with trading volume rising 75% to $11.5 million, with PI currently testing resistance between $0.087 and $0.095 on the 4-hour chart. The 20-day EMA sits at $0.087, representing the immediate ceiling level, while the Parabolic SAR at $0.095 serves as the next obstacle above, followed by the 50-day EMA at $0.10 which is the first meaningful recovery target. The broken wedge trendline near $0.083 to $0.084 now serves as support and must hold on any further pullback to maintain the breakout structure intact.
The latest price action reveals Pi Network forming a potential double bottom pattern after buyers defended the $0.072-$0.075 region twice in July. According to crypto.news analysis, the first low formed around July 14, followed by another test near July 28. Price has since climbed toward the pattern's neckline at $0.102, with a confirmed breakout above this level activating a measured target near $0.132. This projection comes from adding the pattern's approximate $0.030 depth to the neckline, representing an increase of roughly 42% from current levels. The target also corresponds with a former consolidation area that acted as support during June before PI's decline accelerated. Before reaching the neckline, bulls must clear the immediate $0.094-$0.096 resistance zone, with analyst Crypto With Gopal identifying a smaller falling wedge that could open the path toward $0.098-$0.10. The 4-hour chart shows PI trading near $0.093 after reaching an intraday high of approximately $0.096, with a daily close above the former channel resistance around $0.088-$0.090 strengthening the breakout structure.
In a significant development, more than 242,000 Pioneers participated in the distribution of the Testnet token called SLICE, with users committing roughly 15.92 million Test-Pi for 10 million SLICE tokens between June 11 and June 28. According to the team, the newly issued asset, which remains only in test mode and will never go to mainnet, is linked to the game Slice of Pi. The SLICE token aims to test engagement-based bonuses and promote product utility over capital raising. The team outlined detailed processes for how this enhanced user engagement and real application functions will work, marking a significant step toward practical use cases beyond speculative trading. This testnet launch represents a concrete utility anchor at a moment when the token needs real-world demand to support the breakout, with the practical use cases including requesting delivery robots for groceries, dispatching security robots to patrol properties, scheduling industrial inspection robots, and interacting with humanoid assistants in retail and hospitality. The network recently completed its second Launchpad test involving SLICE, focusing on Launchpad allocation, liquidity-pool mechanics, and automated token pricing, making it an ecosystem test rather than direct evidence of mainnet accumulation.
The recovery comes as Pi Network prepares to complete its Protocol 26 Mainnet upgrade with a deadline of August 11. According to the project's official announcement, node operators must install the update through the Pi Node software to remain connected to the Mainnet. Protocol 26 follows eight upgrades completed during recent months and represents a major step before Protocol 27, the final update currently planned in this upgrade cycle. The Pi Core Team has started deploying Protocol 26 across the Pi Mainnet, with node operators having until August 11 to update their software or risk losing their Mainnet connection. The approaching deadline could support interest in PI, but it also creates execution risk if node operators fail to update in time. The rebound comes as Pi Network rolls out Protocol 26 across its Mainnet infrastructure, with the project's official node page stating all Mainnet nodes must upgrade to version 26. The Pi Mainnet is upgrading to Protocol 26, with all Mainnet node operators required to complete the upgrade before the deadline to maintain network access.
The current price action represents a significant recovery from the token's recent lows, with PI jumping from under $0.083 to over $0.093 earlier today before being stopped at current levels. According to latest reports, it was less than a month ago when the underlying asset plummeted to a new all-time low of just over $0.071, which was the culmination of consecutive breakdowns and the loss of key support levels. The bulls finally stepped up and helped it surge to $0.10 within days, though another rejection followed and PI slipped below $0.09 and $0.08. This time, the support at $0.074 managed to contain the losses, and the asset has remained above $0.08 for the past several days. The token's ability to maintain support above $0.08 despite recent volatility demonstrates improved market confidence, with a large portion of these gains coming after the team announced the upcoming version 26. Trading activity has increased significantly, with CoinGecko showing approximately $14.3 million in 24-hour volume, up about 88% from the previous day, driving the token's price up. PI's market capitalization stood above $1 billion during this recovery period. Technical indicators support the improving short-term structure, with the daily Aroon Up reading reaching 100% compared with an Aroon Down reading of 35.71%, suggesting recent highs are forming more frequently than new lows. The Chaikin Money Flow indicator has moved above zero to 0.07, with the 4-hour Supertrend indicator now bullish and placing dynamic support near $0.086.
The recovery gains momentum from Fabric Foundation's announcement that Pi Network had joined RoboPay as a payment partner, allowing PI to pay for robot services across the Fabric network. However, the planned integration remains unproven in terms of rollout and resulting transaction demand. PI remains more than 96% below its February 2025 record high, meaning the recent weekly rally has yet to reverse its longer-term bearish structure. For U.S. traders, PI availability remains narrower than established cryptocurrencies, with CoinGecko listing OKX, Gate, and Bitget among main markets, while access varies by jurisdiction. The limited distribution may increase volatility and make price discovery more dependent on offshore venues. The decisive test sits at $0.102, with a confirmed breakout above this neckline bringing $0.115 and $0.132 into view. Rejection between $0.095 and $0.102 could send PI back toward $0.090 or the 4-hour Supertrend support near $0.086. Supply growth and future token unlocks remain additional risks if spot demand weakens, while the 4-hour Stochastic RSI has climbed into overbought territory with readings near 82 and 87, raising the possibility of a short-term pullback before another attempt at the neckline.
