$PIVX is currently trading around $0.2066 on the 1-Hour chart. The chart indicates a bearish trend, characterized by a series of lower highs and lower lows.
Key resistance levels to monitor are at $0.2411, $0.2370, and $0.2263. Support levels to watch include $0.2066, $0.2060, and $0.2043. The 9-period EMA is at $0.2060, aligning closely with the current price and indicating potential support.
For a potential trading strategy, consider entering a short position if the price breaks below $0.2066, with a stop-loss set just above the nearest resistance at $0.2263. For a long position, enter around $0.2075 if the price moves above the EMA and shows a bullish pattern, with a stop-loss below $0.2043. Set take-profit targets for short positions at $0.2043 and $0.1994, and for long positions, target resistance levels at $0.2209 and $0.2263.
This approach helps in capitalizing on the bearish trend while managing potential downside risk. Follow for more; youâll earn better with us.
#CryptoTrading #TechnicalAnalysis #Binance #CryptoSignals #PIVX
