PI USDT
1. Price Action & Trend Analysis
Current Price: 2.69395 USDT, down -4.23%.
High (H): 2.76628 USDT, Low (L): 2.6500 USDT.
The price has experienced a strong upward movement, reaching a local top around 3.08 USDT, followed by a correction.
The uptrend still appears intact, but a pullback is currently in progress.
2. Support & Resistance Levels
Key Resistance Levels
3.08 USDT (local top, strong resistance)
2.75 - 2.74 USDT (previous consolidation zone)
2.69 - 2.70 USDT (current price range, potential resistance if rejected)
Key Support Levels
2.46 - 2.37 USDT (first strong support zone)
2.30 USDT (critical support level)
2.21 - 2.10 USDT (important order block zone)
1.94 - 2.00 USDT (psychological level and strong demand zone)
The blue rectangles on the chart indicate a strong liquidity zone between 2.30 - 2.37 USDT, which serves as a crucial support area if the price drops further.
3. Indicators
Exponential Moving Averages (EMAs):
Green line (possibly EMA 20): The price broke below this level and is now testing it as resistance, which is a short-term bearish sign.
Blue line (possibly EMA 9): The price is trading below it, confirming a bearish short-term trend.
Volume:
During the strong uptrend, high volume indicated strong buying interest.
The current pullback is occurring with declining volume, suggesting this could be a healthy correction rather than a reversal.
4. Potential Scenarios
Bullish Scenario (Price Increase)
If the price stays above 2.69 USDT and breaks the 2.75 USDT resistance, it could continue rising toward 3.08 USDT.
A retest of the 2.37 - 2.46 USDT support zone, followed by a strong bounce, could trigger a new upward move.
Bearish Scenario (Price Drop)
If the price remains below 2.69 USDT and faces rejection, a further decline toward 2.37 - 2.30 USDT is possible.
A breakdown below 2.30 USDT could lead to the next strong support at 2.21 - 2.10 USDT.
Conclusion
Short-term trend: Neutral to slightly bearish, given the pullback and price trading below the EMAs.
Key levels to watch:
Support: 2.37 - 2.30 USDT
Resistance: 2.70 - 2.75 USDT
Trading Strategy: A possible long entry around 2.37 - 2.30 USDT, with a stop-loss below 2.21 USDT and targets around 2.75 - 3.08 USDT.
ACT on your own findings and analysis, I share what my ideas are, it is therefore not financial advice!
Current Price: 2.69395 USDT, down -4.23%.
High (H): 2.76628 USDT, Low (L): 2.6500 USDT.
The price has experienced a strong upward movement, reaching a local top around 3.08 USDT, followed by a correction.
The uptrend still appears intact, but a pullback is currently in progress.
2. Support & Resistance Levels
Key Resistance Levels
3.08 USDT (local top, strong resistance)
2.75 - 2.74 USDT (previous consolidation zone)
2.69 - 2.70 USDT (current price range, potential resistance if rejected)
Key Support Levels
2.46 - 2.37 USDT (first strong support zone)
2.30 USDT (critical support level)
2.21 - 2.10 USDT (important order block zone)
1.94 - 2.00 USDT (psychological level and strong demand zone)
The blue rectangles on the chart indicate a strong liquidity zone between 2.30 - 2.37 USDT, which serves as a crucial support area if the price drops further.
3. Indicators
Exponential Moving Averages (EMAs):
Green line (possibly EMA 20): The price broke below this level and is now testing it as resistance, which is a short-term bearish sign.
Blue line (possibly EMA 9): The price is trading below it, confirming a bearish short-term trend.
Volume:
During the strong uptrend, high volume indicated strong buying interest.
The current pullback is occurring with declining volume, suggesting this could be a healthy correction rather than a reversal.
4. Potential Scenarios
Bullish Scenario (Price Increase)
If the price stays above 2.69 USDT and breaks the 2.75 USDT resistance, it could continue rising toward 3.08 USDT.
A retest of the 2.37 - 2.46 USDT support zone, followed by a strong bounce, could trigger a new upward move.
Bearish Scenario (Price Drop)
If the price remains below 2.69 USDT and faces rejection, a further decline toward 2.37 - 2.30 USDT is possible.
A breakdown below 2.30 USDT could lead to the next strong support at 2.21 - 2.10 USDT.
Conclusion
Short-term trend: Neutral to slightly bearish, given the pullback and price trading below the EMAs.
Key levels to watch:
Support: 2.37 - 2.30 USDT
Resistance: 2.70 - 2.75 USDT
Trading Strategy: A possible long entry around 2.37 - 2.30 USDT, with a stop-loss below 2.21 USDT and targets around 2.75 - 3.08 USDT.
ACT on your own findings and analysis, I share what my ideas are, it is therefore not financial advice!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.