Technical Analysis of PIUSDT
Timeframe: 30-minute chart (mid-short-term analysis).
Volatility:
There was a clear peak followed by a sharp decline, indicating increased volatility and likely liquidation of long positions after the peak.
Key Levels:
Support Levels:
± 1.77 – 1.78 USDT: Local support area where the price has recently consolidated.
± 1.74 USDT: Stronger support level, historically tested with rejection of lower prices.
Resistance Levels:
± 1.82 – 1.825 USDT: Immediate resistance, previously rejected at this level.
± 1.85 USDT: Next key resistance in case of an upward breakout.
Indicator Analysis:
1. Moving Averages (MAs):
The price is moving around the short MA (likely the 9 or 14 EMA), indicating consolidation after a decline.
The MA is currently acting as resistance above the price, suggesting weakness in the trend.
2. Volume:
After the sharp drop, volume has decreased, but a slight increase is visible during consolidation.
A clear volume surge during a breakout would confirm a stronger move.
3. MACD (bottom of the chart):
Bullish crossover: A positive signal indicating a potential upward correction.
The histogram bars are turning more positive, suggesting weakening bearish momentum.
Pattern Recognition:
Rejection at higher levels: Previous attempts to break above 1.82 USDT have been rejected, confirming this as a key resistance zone.
Range formation: The price is moving sideways between ±1.77 and 1.82 USDT. A breakout from this range will likely lead to a stronger trend move.
Potential Scenarios:
1. Bullish Scenario (upward breakout):
A breakout above 1.825 USDT with increased volume could lead to a test of 1.85 USDT, and potentially higher levels towards 1.88 – 1.90 USDT.
2. Bearish Scenario (downward breakdown):
A drop below 1.77 USDT could trigger further weakness towards the support area at 1.74 USDT.
If this level breaks, 1.70 USDT will be the next major target.
Strategy:
Wait for a clear breakout above 1.825 USDT or below 1.77 USDT before entering a position.
Bullish bias if the price breaks above the MAs with strong volume.
Bearish bias if 1.77 USDT is lost and selling volume increases.
Timeframe: 30-minute chart (mid-short-term analysis).
Volatility:
There was a clear peak followed by a sharp decline, indicating increased volatility and likely liquidation of long positions after the peak.
Key Levels:
Support Levels:
± 1.77 – 1.78 USDT: Local support area where the price has recently consolidated.
± 1.74 USDT: Stronger support level, historically tested with rejection of lower prices.
Resistance Levels:
± 1.82 – 1.825 USDT: Immediate resistance, previously rejected at this level.
± 1.85 USDT: Next key resistance in case of an upward breakout.
Indicator Analysis:
1. Moving Averages (MAs):
The price is moving around the short MA (likely the 9 or 14 EMA), indicating consolidation after a decline.
The MA is currently acting as resistance above the price, suggesting weakness in the trend.
2. Volume:
After the sharp drop, volume has decreased, but a slight increase is visible during consolidation.
A clear volume surge during a breakout would confirm a stronger move.
3. MACD (bottom of the chart):
Bullish crossover: A positive signal indicating a potential upward correction.
The histogram bars are turning more positive, suggesting weakening bearish momentum.
Pattern Recognition:
Rejection at higher levels: Previous attempts to break above 1.82 USDT have been rejected, confirming this as a key resistance zone.
Range formation: The price is moving sideways between ±1.77 and 1.82 USDT. A breakout from this range will likely lead to a stronger trend move.
Potential Scenarios:
1. Bullish Scenario (upward breakout):
A breakout above 1.825 USDT with increased volume could lead to a test of 1.85 USDT, and potentially higher levels towards 1.88 – 1.90 USDT.
2. Bearish Scenario (downward breakdown):
A drop below 1.77 USDT could trigger further weakness towards the support area at 1.74 USDT.
If this level breaks, 1.70 USDT will be the next major target.
Strategy:
Wait for a clear breakout above 1.825 USDT or below 1.77 USDT before entering a position.
Bullish bias if the price breaks above the MAs with strong volume.
Bearish bias if 1.77 USDT is lost and selling volume increases.
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.