Analysis of PIUSDT (Pi Network/Tether) 1-Hour Chart
Key Observations:
Uptrend in Progress:
- The price is following an ascending trendline in both charts.
- The Linear Regression Channel confirms an upward bias, indicating that the price is moving within a rising trend.
Breakout from Consolidation:
- The price was moving sideways for some time before breaking out upwards.
- A strong bullish candle shows that buyers are in control.
Indicators Suggest Bullish Momentum:
- VWAP Support: The price is above the VWAP (Volume Weighted Average Price), which indicates buying strength.
- Supertrend Indicator: The second chart shows the Supertrend flipped bullish, which suggests that the trend is shifting in favor of buyers.
- SAR (Parabolic Stop and Reverse) Indicator: The dots of the SAR indicator are below the price, confirming an upward trend.
Potential Resistance Levels:
- The upper boundary of the Linear Regression Channel (~$1.90-$2.00) may act as the next resistance.
- If buying pressure continues, the price may target this zone.
Support Levels:
- Immediate support is around $1.55-$1.60, which was the breakout area.
- If the price moves below this level, it could test lower support around $1.41.
Trading Decision:
📌 If you are already in a buy position: ✅ You can hold your position as long as the price stays above $1.55. ✅ Set a stop-loss slightly below $1.55 to minimize risk. ✅ Target $1.90-$2.00 for potential profit-taking.
📌 If you want to enter a new buy trade:
- Wait for a pullback around $1.60-$1.65 for a better risk-reward entry.
- Confirm with a bullish candle and buy near support.
📌 Exit Strategy (Stop Loss & Take Profit):
- Stop Loss: Below $1.55 (trend invalidation)
- Take Profit: Around $1.90-$2.00 (upper resistance level)
Conclusion:
🚀 The overall trend is bullish. The breakout, combined with strong indicators, suggests more upside potential. However, always manage risk by setting stop-loss levels to protect your investment.
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