- 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.
The handle formed as the 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. Ever since, the market cap has trended marginally upwards to a current figure that is close to about $3.2 billion. As trader activity increases, volume spikes coincide both with bullish upsurges and steep declines.
Indicators Signal Rising Volatility
The price of PI is currently at 0.4011 at press time with a 24-hour traded volume of 95.47 million with a 2.51 percent daily increase. The 9-period EMA is $0.3996 compared to the 50-period SMA of 0.3848, indicating near-term short-term momentum in the hands of the buyers.
Bollinger Bands (20, 2) have grown moderately, with the upper band equating to 0.4109 and the lower band standing at 0.3816. The Stochastic RSI at 80.44 and 91.48 points out that the asset fell within the overbought zone, which resulted in pullbacks in the past.
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.
