Pi Coin's price action over the past two months has carved out a cup-and-handle pattern on the daily chart, a classic bullish continuation formation that could send the token toward $0.247 — roughly 23% above current levels. The pattern's lip sits at $0.200, a level that has rejected Pi multiple times since 2025. If the handle's downward drift resolves to the upside, the measured-move target is within reach.
The setup in detail
The cup formed between March 21 and late April, with the handle starting on April 29. That handle is still ongoing — Pi is currently trading at $0.182, slightly below the $0.189 Fibonacci 0.5 resistance. Under the hood, a hidden bullish divergence on the daily RSI adds weight to the pattern: price made a higher low between February 16 and May 3, while RSI made a lower low. That kind of divergence often precedes a trend reversal or continuation to the upside.
Meanwhile, the Chaikin Money Flow (CMF) indicator sits at 0.06, above zero, and has been trending higher since April 1 despite the price correction from $0.20. That means buying pressure has been accumulating even as the token pulled back — a sign that the handle might be shaking out weak hands before a breakout.
Why Pi is moving independently
Pi Coin's 30-day correlation with Bitcoin is just 0.23, meaning it's largely decoupled from the broader crypto market. That independence cuts both ways: if Bitcoin slumps, Pi won't necessarily follow, but it also won't get a tailwind from a BTC rally. The coin's price action is being driven by its own technicals and, presumably, network-specific factors rather than macro sentiment.
What needs to go right
The immediate hurdle is $0.189 (the 0.5 Fibonacci level). A daily close above that opens the path to $0.200. Beyond that, a breakout above the cup's lip would confirm the pattern and trigger the measured move toward $0.247. On the downside, the 0.236 Fib at $0.179 is the first support that keeps the pattern intact. If Pi slips below $0.172, the next stop is $0.167. A close under $0.163 would invalidate the entire setup.
For now, traders are watching whether Pi can close above $0.189 in the coming sessions. A failure to hold $0.179 would put the pattern at risk.
