Technical Analysis of PI/USDT (MEXC Exchange)
1. Current Market Position
Price: 1.78493 USDT (-4.23% decline).
Volume: 9.0M (relatively high, indicating activity).
30-Day Average Volume: Unknown, but current movements suggest volatility.
2. Support and Resistance Levels
Resistance Levels:
Around 1.81691 - 1.91152 USDT (red zones).
Strongest resistance at 1.97694 USDT.
Support Levels:
First key support around 1.6903 - 1.75302 USDT.
Stronger support around 1.63479 - 1.6223 USDT.
Extremely strong support at 1.55585 USDT.
3. Expectation Based on Technical Structure
The blue projection line suggests a possible further decline towards the 1.63 USDT support zone, followed by a sideways movement.
A bullish reversal is expected afterward, which could lead to a rise toward 1.91 USDT.
The MACD indicator at the bottom shows a bearish trend but could soon form a bullish crossover if momentum shifts.
4. Conclusion & Strategy
Short-term: Further decline towards 1.63 USDT is possible before accumulation and an upward movement.
Long-term: If the 1.63 support holds, an upward move toward 1.91+ USDT could occur.
Trading Strategy:
Short if the price stays below 1.75 USDT and moves toward 1.63 USDT.
Buy the dip around the 1.63 USDT support zone with a stop-loss below 1.55 USDT.
Take profit at 1.81 - 1.91 USDT if the bounce occurs.
⚠️ Disclaimer: This is not financial advice. Always do your own research and apply risk management! 🚀
1. Current Market Position
Price: 1.78493 USDT (-4.23% decline).
Volume: 9.0M (relatively high, indicating activity).
30-Day Average Volume: Unknown, but current movements suggest volatility.
2. Support and Resistance Levels
Resistance Levels:
Around 1.81691 - 1.91152 USDT (red zones).
Strongest resistance at 1.97694 USDT.
Support Levels:
First key support around 1.6903 - 1.75302 USDT.
Stronger support around 1.63479 - 1.6223 USDT.
Extremely strong support at 1.55585 USDT.
3. Expectation Based on Technical Structure
The blue projection line suggests a possible further decline towards the 1.63 USDT support zone, followed by a sideways movement.
A bullish reversal is expected afterward, which could lead to a rise toward 1.91 USDT.
The MACD indicator at the bottom shows a bearish trend but could soon form a bullish crossover if momentum shifts.
4. Conclusion & Strategy
Short-term: Further decline towards 1.63 USDT is possible before accumulation and an upward movement.
Long-term: If the 1.63 support holds, an upward move toward 1.91+ USDT could occur.
Trading Strategy:
Short if the price stays below 1.75 USDT and moves toward 1.63 USDT.
Buy the dip around the 1.63 USDT support zone with a stop-loss below 1.55 USDT.
Take profit at 1.81 - 1.91 USDT if the bounce occurs.
⚠️ Disclaimer: This is not financial advice. Always do your own research and apply risk management! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.