PI/USDT on a 1-hour timeframe Chart Analysis

Based on the chart analysis of PI/USDT on a 1-hour timeframe: Key Observations: Current Price: $2.60256 Support & Trendline: The price is currently near the ascending trendline (green diagonal line), which suggests that this level may act as support. If this trendline holds, the price may bounce upward. Indicators: VWAP (Volume Weighted Average Price) Levels: Upper VWAP: 2.8231 (Resistance) Middle VWAP: 2.71264 (Current Zone) Lower VWAP: 2.59314 (Support) The price is hovering around the lower VWAP, meaning it's near a support level. The price is also near the moving averages , indicating indecision. Price Action: There was a strong upward movement, followed by consolidation and a pullback. If the price breaks below the ascending trendline, it could indicate further downside. Decision Making: Hold Your Buy Position If: The price stays above the ascending trendline and shows signs of bouncing. A bullish candle pattern (like a hammer or engulfing) appears near support. Exit t...