Is Pi Coin Making Another Cup-and-Handle Play? This Key Level Will Tell

The Pi Coin price has settled into a curious holding pattern as September kicks off. Down 2% month-on-month but slightly up over the week and day, it's showing unusual restraint for a token still nursing a 60% year-on-year wound.

But this restraint isn't boring—it's potentially explosive. I've been watching a familiar pattern emerge, one that might signal another breakout opportunity if you know where to look. And honestly, after tracking these crypto movements for years, these quieter moments often precede the most interesting moves.

The Smart Money Is Quietly Accumulating

Looking beneath the lackluster price action, something fascinating is happening. The Money Flow Index has climbed to 66 on the 4-hour chart despite Pi's sideways wobble.

What does this actually mean? While most traders are yawning at Pi's seemingly dull performance, smarter investors are quietly scooping up coins during dips. If the MFI pushes above 75-76, we'd see confirmation that buyers are taking control rather than just defending their positions.

This lines up perfectly with what the Bull-Bear Power histogram is showing—green clustering has returned, eerily similar to late August when bulls regained momentum before Pi's month-end surge. Put plainly: real buying pressure is building under the surface while most people aren't paying attention.

We've Seen This Movie Before

Between August 22-29, Pi followed a textbook cup-and-handle breakout pattern, jumping from around $0.35 to $0.39—an 11-12% move that rewarded pattern-spotters.

A similar setup appears to be forming now, but everything hinges on one critical level: $0.39. Break above it with conviction (specifically above $0.3950 and $0.3983 on the 4-hour chart), and we could be looking at a measured move of nearly 19%.

But let's not get ahead of ourselves. For this pattern to complete, bulls must remain in control and the MFI needs to continue trending upward. After reaching $0.39, we still need to wait for that handle to form through quick consolidation. The projected 19% move would only trigger after Pi breaks cleanly past this handle formation.

Until that decisive break happens, it's just potential energy waiting to be released. Failure to clear the neckline means more range-bound action, and dropping below $0.33 on a 4-hour closing basis would kill the bullish setup entirely, potentially sending Pi to retest its all-time low of $0.32.

The market is giving us clear signals—$0.39 is where this story either takes off or falls apart. I've seen too many promising patterns fizzle out to count chickens before they hatch, but the underlying indicators suggest this one's worth watching closely.