Analyzing the chart of the PI/USDT pair in 1D (daily), here are the observations and the most likely scenario based on technical analysis:
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🔍 Current Context
Current price: $0.6041
Visible descending channel, with colored regions delimiting support zones (red) and resistance (blue).
Short moving average (green) is above the price, indicating a downtrend.
Volume is decreasing, with no signs of strong buyer entry.
RSI below 50, suggesting weak buying pressure and possible continuation of the downtrend.
Strong rejection in the region of $1.67 (long wick shows momentary euphoria).
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📉 Most Likely Scenario
Continuation of sideways movement or slight decline, with immediate support at $0.60. If this level is broken, the next significant support is around $0.10 (yellow line drawn on the chart).
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📈 To change the downtrend scenario
It would be necessary:
Break of the moving average and the upper channel (above $0.65–$0.70).
Increase in buying volume.
RSI to break above 50.
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📌 Summary:
> The most likely scenario in the short term is the continuation of consolidation between $0.60–$0.65, with a bearish bias, unless an external catalyst or significant buying volume emerges. Be alert to a loss of $0.60, which may lead the asset to test much lower regions.
