$PI
Analysis Of PI/USDT
1. Price Action:
The price experienced a strong breakout around May 8, pushing above the 200 EMA, which now acts as support (~0.63).
Currently consolidating just below resistance around 0.75 after the sharp move up.
2. Indicators:
200 EMA (green line) is sloping upward, signaling a potential shift to an uptrend.
RSI (14) is around 61, suggesting bullish but not overbought conditions. This gives room for further upside.
3. Volume and Momentum:
The large green candles and RSI spike show strong bullish momentum leading into consolidation.
The pullback is shallow, indicating buyers are still in control.
Summary:
The chart suggests a bullish breakout with healthy consolidation. As long as the price holds above the 200 EMA (~0.63), the bias remains bullish. A break above 0.75 could signal continuation.