Pi Coin (PI) is down 5.3% in the past 24 hours, erasing most of its seven-day gains. The token continues to trade sideways inside a broader downtrend. However, a bullish setup may be forming on the chart.
This formation hints at the potential for a strong upside move, but only if key resistance levels are cleared soon.
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Cup and Handle Pattern Hints at a 47% Upside
A cup and handle is a bullish continuation pattern that looks like a rounded “U” (the cup) followed by a smaller downward channel (the handle). The pattern for Pi Coin is clearly visible, and the neckline — which connects the two cup rims — is slightly sloping upward.
An upward-sloping neckline signals growing buyer confidence. It means that the right rim of the cup is forming higher than the left, showing that each rebound is happening at higher prices — a subtle sign of strengthening demand.
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There’s one long wick below the cup (on October 10) that might seem to break the formation. However, that wick was a one-off seller flush. It quickly reversed within the same Pi Coin candle and was never revisited. So, it’s excluded from the cup base, as it represents a liquidity spike rather than a structural low.
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Per the pattern, the vertical distance from the bottom of the cup to the neckline projects a 47% potential upside from the breakout level.
Money Flows Show Early Signs of Recovery
Two key Pi Coin indicators are now supporting this structure: the Chaikin Money Flow (CMF) and the Money Flow Index (MFI).
CMF measures how much capital is entering or leaving a token, especially from big wallets. It dropped below zero on October 26 and has been forming lower lows, suggesting selling pressure and the subsequent handle-specific consolidation.
However, over the last few days, CMF has been curling up from –0.12 toward –0.06, indicating that outflows are slowing and that buying activity may be returning.
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Similarly, MFI, which tracks both price and trading volume to gauge buying pressure, is rising after falling from 58.49 earlier. A move back above 58 would confirm renewed retail accumulation.
If CMF crosses above –0.06 and MFI climbs above 58.49, it could trigger a handle breakout — the early stage of a larger bullish move. For a confirmed breakout above the cup neckline, CMF needs to push above zero, which would mark clear big money inflow dominance.
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Key Pi Coin Price Levels To Watch For Upside (Or Downside)
PI’s first hurdle is the handle breakout zone near $0.24. A daily close above it could lift the price toward $0.27 and then $0.29, which marks the next resistance cluster.
The neckline breakout and the start of the full cup-and-handle move would occur above $0.33. Clearing that could open the path to $0.37 and $0.39.
On the downside, $0.21 is the key invalidation level. A daily close below that would weaken the bullish setup.
A drop below $0.19 would invalidate the cup pattern completely. Moreover, it would likely trigger new lows, suggesting that the handle has extended beyond its valid range.
Source: https://beincrypto.com/pi-coin-price-rally-trigger-analysis/