just an IDEA ( pivx )
Updated
PIVX - 1D
I think PIVX is very underestimated these days, and we could have a very good opportunity in it.
We had a good bounce from $0.2933, which is a strong support level where the price has previously found buyers. We are currently touching minor resistance at $0.3756, but the main resistance is at $0.4114. If we break this level and stabilize above it, we could see a move towards $0.5074, which is a very important resistance.
Since there isn't much data, the 200-period Moving Average is just appearing ( RED LINE ), and the good thing is that we are already above it. We need to stay above it for continued upward movement.
Bullish Scenario:
If the price breaks above the $0.4114 resistance level with significant volume, it could rally towards the next resistance at $0.5074.
Continued bullish momentum could be confirmed if the RSI moves towards the overbought territory without hitting overbought levels.
Bearish Scenario:
If the price fails to break the $0.4114 resistance and falls below the EMA at $0.3593, it could move towards the support at $0.2933.
A drop in RSI below 50 could indicate weakening bullish momentum.
I think PIVX is very underestimated these days, and we could have a very good opportunity in it.
We had a good bounce from $0.2933, which is a strong support level where the price has previously found buyers. We are currently touching minor resistance at $0.3756, but the main resistance is at $0.4114. If we break this level and stabilize above it, we could see a move towards $0.5074, which is a very important resistance.
Since there isn't much data, the 200-period Moving Average is just appearing ( RED LINE ), and the good thing is that we are already above it. We need to stay above it for continued upward movement.
Bullish Scenario:
If the price breaks above the $0.4114 resistance level with significant volume, it could rally towards the next resistance at $0.5074.
Continued bullish momentum could be confirmed if the RSI moves towards the overbought territory without hitting overbought levels.
Bearish Scenario:
If the price fails to break the $0.4114 resistance and falls below the EMA at $0.3593, it could move towards the support at $0.2933.
A drop in RSI below 50 could indicate weakening bullish momentum.
Trade active
Trade active
We were rejected from our resistance around 0.41 and broke below the EMA 200. Currently, we are in a small support area, and if it doesn't hold, we could revisit around 0.3 again.Trade active
We need to close and maintain above 0.3170; otherwise, it's likely we will see around 0.3 again. then we will decide about it again in that area .
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