Key Insights :
- PI coin price formed a bullish cup and handle pattern, suggesting a possible breakout above $0.7670 toward the $0.9000 region.
- PI’s market capitalization stabilized around $5.18B, signaling potential accumulation after a prolonged downtrend from February highs.
- PI Network’s integration with Chainlink’s Data Streams could enhance its DeFi utility, boosting adoption and price momentum.
A bullish trend emerged on the hourly timeframe for PI coin price chart, produced following a traditional cup and handle pattern.
The rounded base expanded across $0.50 before reaching the resistance point at $0.7670, which indicated continuous accumulation and bullish strength.
PI Coin Price Prediction
The handle in the PI coin price chart demanded healthy consolidation within the $0.7485 to $0.7670 range. Rising above $0.7670 could activate a move to $0.90.
Such market movement could prove the validity of the bullish continuation pattern if stronger investor confidence signals appeared.
Moreover, the enlarged Bollinger Bands indicated higher market volatility and favored a potential trading crossover through their upper boundary at $0.7611.
At press time, the price was trading at 0.684.
Alternatively, the pattern could lose validity if the price remains below $0.7670 as it could trigger an intensified sell-off towards $0.7485.
A bearish price movement could also challenge the mid-Bollinger Band at $0.7296 as the first level of support and further decline could push the price to the cup pattern base at $0.6500.
The MACD indicator showed weakening bullish force as the MACD line remained very close to the signal line. This created potential conditions for a bearish crossover.
The existence of opposing signal lines also suggested of a weakening bullish momentum as it indicated the chance of reversal patterns prior to any potential breakout.
All these signaled a potential price movement from $0.7670 to $0.9000 but failed sustainability above $0.7485 could lead to price drops toward $0.7296 or more.
PI Coin Market Cap Trends Hint at Reversal Amid Accumulation Signs
More analysis on the market cap of PI coin indicated that value decreased steadily from above $19.42 Billion on February 25 before stabilizing at $5.18 Billion.
A persistent selling pressure remained in effect according to the extended downtrend despite brief buying activity near April 4.
The analysis confirmed investor exit and fund distribution through the descending channel structure which formed throughout broader market periods.
Market sentiment was evolving positively based on the recent increase which took the market capitalization from $4.00 Billion to $5.18 Billion.
Analyzing the rounded cup and handle formation revealed that it pointed towards $0.9000, which matched the small market-cap increase.
A possible market cap break above $0.7670 could increase the capitalization to surpass $6.00B with this potential correlation.
If PI coin price maintained its position above $0.7485, it could shield the market cap from falling below $5.00 Billion as a breakdown could lead to hitting $4.00 Billion.
Chainlink and Pi Network Unite: A Leap Toward DeFi Integration
Lastly, Chainlink unveiled Pi Network as part of its announcement that brought 22 new Data Streams to its decentralized oracle network for legitimate data verification of decentralized applications (dApps).
The integration utilizes Chainlink’s pull-based system to achieve fast on-chain verification with minimized trust requirements needed by DeFi markets operating at high speed.
Launched in 2018, the mobile-oriented cryptocurrency now hosts numerous users participating in Pi coin mining activities across its Web3 ecosystem.
The news triggered a 15% gain in Pi token price intraday, reflecting increased belief in its DeFi utility and adoption prospects.
Moreover, the partnership launched Pi toward a crucial milestone, demonstrating the blockchain’s mainstream potential.