$PI is consolidating near $0.44, forming a cup and handle bullish continuation pattern.
A confirmed breakout above $0.44 could push $PI toward $0.50–$0.52 in upcoming sessions.
$0.38–$0.40 remains critical support to maintain this bullish structure on the 4-hour chart.
$PI trades at $0.4048 after steady gains, as a bullish continuation pattern nears completion. Technical signals suggest a decisive breakout may soon occur if price overcomes the $0.44 resistance level.
Cup and Handle Formation Near Resistance
Alpha Crypto Signal shared a chart on X showing $PI forming a clean cup and handle pattern on the 4-hour timeframe. This formation develops after a rounded base, where sellers weaken and buyers gradually take control.
The cup extends from late July into mid-August, with price moving from lows near $0.28 to highs approaching $0.44. This rounded recovery demonstrates an accumulation phase, where buyers build positions before the next upward move.
The handle is now forming as price consolidates below the $0.44 ceiling. This pause allows the market to absorb profit-taking before another rally attempt, creating an area where breakout traders are closely watching.
Breakout Zone and Price Objectives
The $0.44 resistance level serves as the decisive breakout point. If price moves above this barrier and holds, the cup and handle pattern confirms its bullish continuation signal.
Alpha Crypto Signal projects an upward target of $0.50–$0.52, aligning with prior price congestion. Such a move would represent a 15–18% gain from current trading levels near $0.405.
This scenario requires that $PI maintain its structure above $0.38–$0.40 support. The zone corresponds with the 50-period SMA and midpoint of the cup, reinforcing its technical importance.
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.
The EMA and SMA trends are pointing higher, indicating that underlying market bias supports further upside if resistance is breached. These are confirming signs of buying interest over time.
If $PI goes below $0.38, that would invalidate the bullish pattern, and price could be in line for declines closer to $0.35. Until those times, the current structure will continue to act as a bearish structure f