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PI Network Shows Bullish Potential with Cup-and-Handle Pattern Formation
PI Network Shows Bullish Potential with Cup-and-Handle Pattern Formation
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network (PI) has been navigating a turbulent market, with its price declining 2.85% in the past 24 hours and 13% over the last month. Despite this bearish trend, technical analysis suggests a potential reversal may be on the horizon.
The 4-hour chart reveals a cup-and-handle pattern forming—a classic bullish indicator. Pi currently faces resistance at the handle's upper boundary. A decisive breakout above this level could trigger a 24% rally, potentially propelling the altcoin toward the $0.48 mark.
Market observers note the pattern's reliability often correlates with the depth of its preceding decline. Should PI overcome current resistance, the projected upside mirrors the magnitude of its recent downturn that formed the pattern's base.
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