The Pi Coin price has shown signs of life this September, sparking interest among crypto traders. Down 2% month-on-month but up 0.6% in the past week, Pi Coin exhibits steady yet cautious movement. However, traders and analysts are closely monitoring a potential cup-and-handle pattern forming on the 4-hour chart that could bring a notable upswing.
What is Driving the Potential Pi Coin Breakout?
Two key technical indicators shed light on this developing trend. The Money Flow Index (MFI), a volume-based momentum gauge, has rebounded to 66, suggesting steady dip-buying by traders. If MFI crosses the 75–76 mark, it could confirm stronger bullish control. Similarly, the Bull–Bear Power (BBP) histogram is turning green, indicating bullish momentum, reminiscent of the August breakout rally to $0.39.
The Role of the $0.39 Neckline
The $0.39 price range is pivotal in this potential breakout. In late August, the Pi Coin price experienced an 11–12% surge following a confirmed cup-and-handle pattern. A similar breakout this time could unlock a 19% price increase. However, confirmation depends on a decisive 4-hour close above $0.39. Failure to consolidate above $0.39 would keep the Pi Coin price range-bound, with a risk of revisiting the $0.33 support level or even its all-time low of $0.32 in a worst-case scenario.
Why Pi Coin Could Be a Buy for Risk-Tolerant Investors
Investors who see potential in lesser-known cryptocurrencies might find Pi Coin intriguing. Its increasing trading volume and potential chart patterns, coupled with historic bullish signals, demonstrate that there’s real activity beneath its relatively muted larger market performance.
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A Cryptocurrency Wallet Worth Trying
Looking for a secure way to store your Pi Coin and other tokens? Consider the Ledger Nano X, a trusted hardware wallet designed to keep your digital assets safe. Lightweight, portable, and user-friendly, it’s a perfect companion for new and experienced investors.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research or consult a professional financial advisor before making investment decisions.
