Pi Network’s 4H chart forms a cup-and-handle pattern, with $0.44 as the main breakout target.
Market cap volatility shows sharp swings between $2.6B and $3.8B over the past month.
Bollinger Bands expansion signals rising volatility as traders watch for a breakout.
Pi Network (PI) is trading around $0.40 after shaping a cup-and-handle pattern on the 4-hour chart, with the $0.44 zone emerging as a crucial breakout point.
Cup-and-Handle Setup Tightens Near Resistance
According to TradingView data shared by Alpha Crypto Signal, PI/USDT in the last two weeks formed a textbook cup-and-handle pattern. The left side of the cup began with a decline from late July, bottoming at $0.34 on August 5. This was followed by a steady climb, completing the cup at $0.44 on August 9.
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The handle formed as price pulled back to $0.36 by August 12, with reduced trading volume. Since then, PI has been trending upward again, holding above $0.38 support. The $0.44–$0.46 zone has limited two breakout attempts, making it a crucial technical barrier. A move above this level could set a path toward the $0.50–$0.52 area.
Market Capitalization Shows High Volatility
CoinMarketCap data from mid-July and mid-August reveals sharp swings in Pi Network’s market capitalization. The value opened near $3.3 billion in mid-July before dipping to $3.0 billion by July 21. A spike on July 23 pushed it above $3.8 billion, only for it to drop back to $3.2 billion within days.
The steepest fall came in early August, hitting $2.6 billion on August 4. Recovery began on August 5, peaking above $3.5 billion on August 10 before another quick correction. Since then, the market cap has edged higher, hovering near $3.2 billion. Volume surges aligned with both bullish rallies and sharp pullbacks, underscoring heightened trader activity.
Indicators Signal Rising Volatility
At press time, PI trades at $0.4011, with a 24-hour volume of $95.47 million, marking a 2.51% daily gain. The 9-period EMA stands at $0.3996, above the 50-period SMA at $0.3848, showing short-term momentum in buyers’ favor.
Bollinger Bands (20, 2) have moderately expanded, with the upper band at $0.4109 and the lower at $0.3816. Stochastic RSI readings of 80.44 and 91.48 place the asset in the overbought zone, a level that previously triggered brief pullbacks.
The market remains in a tight $0.38–$0.42 range. Traders are monitoring resistance at $0.44, which could determine the next decisive move for Pi Network.