Technical analysis of PI/USDT
1. Price Action & Trend
Current price: $1.35404 (+2.83%)
Recent low: $1.23077 (March 7)
Recent high: $2.00529 (earlier in the chart)
The price has been in a downtrend from the recent peak but is now consolidating.
2. Bollinger Bands
Upper Band (UB): 1.39495
Lower Band (LB): 1.35498
Middle Band (MB): 1.37497
Price is currently near the lower band, indicating oversold conditions or potential support.
3. MACD (Moving Average Convergence Divergence)
MACD: 0.00033
DIF: -0.00754
DEA: -0.00787
The MACD is slightly recovering but still below zero, indicating weak momentum. A bullish crossover could signal a trend reversal.
4. KDJ Indicator
K (Fast): 32.96
D (Slow): 39.79
J (Momentum): 19.29
The J-line is low, suggesting oversold conditions, but no confirmed bullish reversal yet.
5. RSI (Relative Strength Index)
RSI(6): 33.44 (Near oversold)
RSI(12): 42.09
RSI(24): 43.35
RSI values are in the lower range but not extremely oversold, indicating some weakness but possible stabilization.
6. Volume Analysis
Volume: 1.34M
No significant spike in volume, suggesting consolidation rather than strong buying interest.
Conclusion & Possible Strategy
Bearish to Neutral: The market is consolidating after a sharp drop.
Support Levels: $1.23 (recent low)
Resistance Levels: $1.39 - $1.40 (Bollinger mid & upper band)
If RSI rises above 50 and MACD shows a bullish crossover, it could indicate an upward move.
If the price breaks below $1.23, further downside is possible.