PI/USDT

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! 🚀