Is Pi Coin Preparing for a 47% Rally? This Pattern Says It Might Be
Pi Coin shows a bullish cup and handle pattern suggesting a potential 47% upside if key resistance levels are cleared soon.Summary
Pi Coin (PI) is currently trading sideways despite a recent 5.3% drop. Technical analysis reveals a visible bullish cup and handle pattern, which projects a potential 47% upside move from the breakout level, provided key resistance is overcome.
The pattern features an upward-sloping neckline, signaling increasing buyer confidence. Furthermore, momentum indicators like the Chaikin Money Flow (CMF) and Money Flow Index (MFI) show early signs of recovery, with CMF suggesting slowing outflows and MFI indicating potential retail accumulation.
Key price levels to watch include a handle breakout near $0.24, leading toward resistance at $0.27 and $0.29. A confirmed breakout above the neckline at $0.33 could initiate the full rally toward $0.37 and $0.39. The bullish setup is invalidated if the price closes below the $0.21 support level.
(Source：BeInCrypto)