just an IDEA ( pivx ) 4H
Updated
PIVX - 4H
Read the explanation for the one-day chart FIRST . I just included this time frame to have a better view:
Bullish Scenario:
If the price breaks above the $0.3793 resistance level with significant volume, it could rally towards $0.4143. A break above this level and stabilization could target $0.4703 and $0.5113.
Continued bullish momentum could be confirmed if the RSI approaches the overbought territory without hitting it.
Bearish Scenario:
If the price fails to break the $0.3793 resistance and falls below the EMA at $0.3590, it could move towards the support at $0.3515. Further decline could test supports at $0.2914 again
A drop in RSI below 50 could indicate weakening bullish momentum.
Conclusion
Based on both the daily and 4-hour charts, PIVX appears to have strong support levels, but we cannot say there is a change of character here unless we break and stabilize above $0.4145. Given the undervaluation sentiment, there could be a good opportunity for upward movement if key resistance levels are broken and maintained.
Read the explanation for the one-day chart FIRST . I just included this time frame to have a better view:
Bullish Scenario:
If the price breaks above the $0.3793 resistance level with significant volume, it could rally towards $0.4143. A break above this level and stabilization could target $0.4703 and $0.5113.
Continued bullish momentum could be confirmed if the RSI approaches the overbought territory without hitting it.
Bearish Scenario:
If the price fails to break the $0.3793 resistance and falls below the EMA at $0.3590, it could move towards the support at $0.3515. Further decline could test supports at $0.2914 again
A drop in RSI below 50 could indicate weakening bullish momentum.
Conclusion
Based on both the daily and 4-hour charts, PIVX appears to have strong support levels, but we cannot say there is a change of character here unless we break and stabilize above $0.4145. Given the undervaluation sentiment, there could be a good opportunity for upward movement if key resistance levels are broken and maintained.
Trade active
Trade active
We broke through the trading range but couldn't sustain above it, being rejected before reaching the resistance. Now, we have a small support and a trendline; they could help us get back above for short time. We'll need to observe how it reacts thereafter.Trade active
As I mentioned in the last update, if you extend the orange trend line, you will see that it has helped us bounce upward for the third time. However, I think there is a possibility that we will see 0.2914 again.
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