âPIVX is trading around $0.234, up 37.98% in the last 24 hours, hitting its previous high of $0.3051. Market Analysis Shows:
âđ Market Performance & Driving Factors
âVolume Spike: 24-hour trading volume increased by 1,153% to over $46.4 million, indicating strong trader interest in the market.
âPrivacy Coin Revival: PIVXâs rise, along with other privacy coins like ZEC and ZEN, signals a market shift towards privacy-focused cryptocurrencies.
âEcosystem Boost: Support from exchanges including Binance following the Core v5.6.0 mandatory update has boosted investor confidence.
âUpcoming SHIELD Staking: The project's "SHIELD Staking" feature is coming, which will allow users to stake anonymized coins and earn rewards.
âđ Technical Analysis and Trading Strategy
âResistance: Immediate resistance is at $0.3051.
âSupport: A strong support zone has formed between $0.22 and $0.24, which could be an opportunity to 'Buy The Dip'.
âCaution: RSI is currently in the 77-79 range, indicating Overbought conditions. Traders can target $0.28, $0.30, and $0.34 with long entries in the event of a pullback in the $0.24-$0.25 region. It is recommended to use a stop-loss around $0.228 for high risk management.
âPIVX's momentum has caught the market's attention. Do your own research (DYOR) before trading and be risk aware.