#CryptoRoundTableRemarks
📈 Fibonacci Analysis (1-Hour Chart)
Recent price movements of Pi Network (PI) indicate a significant retracement to the 0.786 Fibonacci level, approximately at $0.56, which often serves as a reversal zone. If the trend reversal is confirmed, potential retracement targets could be the 0.382 level at $1.83 and the 0.5 level at $1.47.
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📊 Wyckoff Analysis (1-Hour Chart)
Applying the Wyckoff Method to the 1-hour chart of PI reveals the following phases:
Phase A – Stopping the Downtrend:
Selling Climax (SC): PI reached an intraday low of $0.818, indicating strong selling pressure being absorbed by buyers.
Automatic Rally (AR): Following the SC, the price rebounded to an intraday high of $0.869, showing initial buying interest.
Secondary Test (ST): The price retested the $0.818 level, confirming support near the SC.
Phase B – Accumulation:
Price movements became range-bound, suggesting accumulation by informed investors.
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✅ Summary
Current Price: $1.11 USD
Fibonacci Levels: Potential retracement targets at $1.47 (0.5 level) and **$1.83 (0.382 level)**
Wyckoff Phases: Evidence of accumulation phase, indicating potential for upward movement
Traders should monitor for confirmation of trend reversal and consider these technical levels when making trading decisions.