In the H1 timeframe, the price of PI/USDT has made a significant recovery after a sharp drop to a low of about 1.3000 USDT. Currently, the price is on the rise again with an increase of +3.21% during this hour. The short-term trend seems to be shifting towards bullish with recent green candles.
High trading volume (147.64 million PI) indicates significant interest from investors during this period.
The SMA volume has reached a fairly high average (8.266 million), which could support the upward trend if the volume continues to be maintained.
The candlestick chart shows some recovery signals after a strong decline. However, it is necessary to monitor the nearest resistance levels (around 1.6000 - 1.6500) to determine whether the upward trend can continue. If the price breaks through this resistance level with high volume, the likelihood of further increases is high.
Risks: The price of PI/USDT shows significant volatility in a short period, which can pose a significant risk for inexperienced investors. It is important to note that the Pi Network is still a controversial project regarding its practicality and the intrinsic value of the coin.
If you are considering investing in PI/USDT:
Short term: Closely monitor the chart and support/resistance levels. You can take advantage of short waves for trading.
Long term: Carefully consider the transparency and true potential of the Pi Network project before making a large investment.
Use risk management tools such as stop-loss orders to protect assets.
Note: This is a personal opinion, not investment advice. Investors should consider, gather information, and research the market.
