Pi Coin (PI) price has carved out a cup and handle pattern between late March and early May. The handle consolidation has extended long enough to test the pattern’s validity, but a scheduled May 15 catalyst could set up a 23% breakout revival.

PiScan, the Pi Network block explorer, is in scheduled maintenance until May 15. On-chain sentiment has dropped sharply during the same window, possibly tied to the explorer being offline. The Pi Coin price chart still holds the pattern, and Chaikin Money Flow remains in positive territory. The next few sessions will show how the signals resolve together.

The Pi Coin price chart has been forming a cup and handle pattern since late March. The cup completed by late April, and the handle has been consolidating in a descending channel since.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

The handle has lasted longer than a textbook setup typically holds. Extended handle consolidations often invalidate the pattern as buyers exhaust before the breakout.

Selling volume across the handle, however, has compressed steadily. The compression keeps the breakout scenario open even as the duration stretches. The next on-calendar catalyst sits on May 15, when PiScan, the Pi Network block explorer, is scheduled to resume operations after a protocol upgrade.

That timing aligns with where the handle structure would typically resolve in one direction or another.

PiScan, the Pi Network block explorer, is currently under a protocol upgrade to version 23. The official service notice lists indexing infrastructure and on-chain data analytics services as affected. The expected completion date is May 15.

Pi Network on-chain sentiment, which tracks the volume of positive mentions and signals across social channels, has dropped during the same window. The Positive Sentiment metric peaked at 10.24 on May 8, followed by one of Pi Coin price’s stronger moves since early May. The metric has since fallen to 1.49.

The sentiment drop could be related to PiScan being offline. With the block explorer’s indexing infrastructure under upgrade, the on-chain data flow that typically fuels sentiment discussion might be reduced during this window. If PiScan resumes on schedule, the data flow returns. Whether that lifts sentiment back toward the May 8 reading is the open question.

Pi Coin price trades at $0.17 on the daily chart, holding within the handle consolidation. Two signals frame the setup.

The Chaikin Money Flow (CMF) indicator, a proxy for large money flows, sits at 0.10. The reading is still in positive territory despite the prolonged handle consolidation. The CMF is also testing the upper boundary of a descending trendline that has held since early March.

The technical levels frame the resistance stack above the current price. Pi Coin price needs to clear $0.18 to confirm a handle breakout. A push above $0.19, the 0.786 Fib level, confirms a neckline breakout. The pattern’s measured move target extends toward $0.24, a roughly 23% move above the breakout zone.

Support sits at $0.16, the 0 Fibonacci anchor and the floor of the cup. A daily close below $0.16 almost invalidates the cup and handle structure. A clean daily close above $0.18 keeps the breakout scenario alive. A close below $0.16 invalidates the pattern.

The post Did Pi Coin Price Just Flash a Date for a 23% Breakout Revival? appeared first on BeInCrypto.

Bitcoin price in Telegram @btc_price_every_hour

68 +