Recently, the price of Pi Coin has started to remain stable since the beginning of September. Although its performance has had some fluctuations, it's not as simple as just price fluctuation. Currently, its price is 60% lower than last year, which makes its fluctuation appear relatively mild. However, this price performance has led people to have some expectations about its structure—especially the potential cup and handle formation.🌟

So, are there any other dynamics in the Pi Coin network? Of course there are! Amid this quiet Fluctuation, some buying pressure is quietly brewing.

Behind the price of Pi Coin, buying and bullish pressure are quietly accumulating. The Money Flow Index (MFI), a tool that measures the inflow (buying) or outflow (selling) of funds, has rebounded to 66 on the 4-hour chart, even though the Pi price is somewhat unstable. This indicates that investors are quietly absorbing the decline. If the MFI can break through 75-76, it will signal a rising flow of funds, which is a classic sign: buyers are taking control of the market, rather than merely defending support levels.

This is consistent with the trend shown by the Bull–Bear Power (BBP) histogram, which reveals the dominant forces in the market by comparing price extremes and moving averages. Similar to the end of August, the green accumulation reappears, indicating that bulls are regaining control before a breakout at the end of the month. Taken together, the upward trend of the MFI combined with the positive BBP phase means that real buyer pressure is accumulating at the bottom of the Pi Coin price.

As for the familiar cup and handle pattern, the central issue lies at the price level of $0.39, which could be the key to determining the trend of Pi Coin. From August 22 to 29, a typical cup and handle breakout would have brought the price of Pi Coin from around $0.35 to $0.39, with a corresponding increase of 11-12%. Currently, a similar setup is brewing, but the key is to reach $0.39. If the decisive 4-hour closing price can exceed $0.39, it will "activate" this pattern and possibly lead to an estimated increase of nearly 19%. Of course, to achieve this, buying momentum must remain strong, and the MFI must continue to rise or at least remain stable.

However, the price of Pi Coin still has a long way to go. After the price breaks through the handle, we need to wait for a brief consolidation (or formation of the handle). The predicted 19% increase will start from the moment it breaks through the handle.

Before the breakout, all of this is still just potential. If the neckline area cannot be crossed, the price of Pi Coin will continue to fluctuate within the range. However, if the 4-hour closing price falls below $0.33, it will invalidate the short-term bullish assumption and may cause the price of Pi Coin to test its historical low of $0.32.

💡Disclaimer: This article is for informational purposes only and past performance does not guarantee future results.