Technical analysis by amirh-gh about Symbol PIVX on 6/5/2024

PIVX - 1D I think PIVX is very underestimated these days, and we could have a very good opportunity in it. We had a good bounce from $0.2933, which is a strong support level where the price has previously found buyers. We are currently touching minor resistance at $0.3756, but the main resistance is at $0.4114. If we break this level and stabilize above it, we could see a move towards $0.5074, which is a very important resistance. Since there isn't much data, the 200-period Moving Average is just appearing ( RED LINE ), and the good thing is that we are already above it. We need to stay above it for continued upward movement. Bullish Scenario: If the price breaks above the $0.4114 resistance level with significant volume, it could rally towards the next resistance at $0.5074. Continued bullish momentum could be confirmed if the RSI moves towards the overbought territory without hitting overbought levels. Bearish Scenario: If the price fails to break the $0.4114 resistance and falls below the EMA at $0.3593, it could move towards the support at $0.2933. A drop in RSI below 50 could indicate weakening bullish momentum.We were rejected from our resistance around 0.41 and broke below the EMA 200. Currently, we are in a small support area, and if it doesn't hold, we could revisit around 0.3 again.We need to close and maintain above 0.3170; otherwise, it's likely we will see around 0.3 again. then we will decide about it again in that area .