$PI token shows signs of forming a cup and handle pattern, potentially leading to further price growth. Current technical signals indicate a breakout may occur above the $0.44 resistance.
Cup and Handle Formation
On charts shared by Alpha Crypto Signal, $PI is forming a clear cup and handle pattern on the 4-hour timeframe. This formation develops after a rounded base, where selling pressure weakens and buyers gradually take control.
Breakout Zone and Price Objectives
The $0.44 resistance level serves as the decisive breakout point. A successful move above this barrier could confirm the bullish continuation signal of the cup and handle pattern, with projected upward targets around $0.50–$0.52, representing a potential 15–18% gain.
Volume and Moving Averages Support Setup
Trading volume has gradually decreased during the handle formation, a common characteristic before a breakout. A sudden increase in volume on an upward move would strengthen confirmation of bullish momentum. EMA and SMA trends indicate a rising market bias, supporting the potential for further upside.
The market is closely monitoring $PI's development, particularly at the $0.44 level. A successful breakout may lead to significant gains, while support in the $0.38–$0.40 range remains critical for maintaining a bullish outlook.
