[Technical Analysis] PI/USDT – 1H Chart Update (May 16, 2025)

I'm currently tracking PI/USDT and evaluating the best move using Fibonacci retracement, Moving Averages, and Wyckoff principles. Here's the technical breakdown:

Market Trend:
Current price: $0.8591 USD
PI/USDT is showing a short-term bearish trend after failing to hold above $0.935.
MA5 and MA10 are flattening; MA30 is slightly downward, suggesting consolidation.
MACD is neutral to slightly bearish. Volume is decreasing → indicating indecision or lack of demand.

Fibonacci Key Levels (based on recent swing low $0.72 and high $1.02):
0.382 Fib: ~$0.909 → Minor resistance
0.5 Fib: ~$0.87 → Support zone
0.618 Fib: ~$0.831 → Key support
If $0.831 breaks down, price could revisit $0.72

Wyckoff Phase:
Price appears to be in a reaccumulation or consolidation range between $0.83–$0.95.
No strong signs of demand absorption yet; need to watch for breakout or breakdown confirmation.

My Strategy:
If price holds above $0.87–$0.83: watching for bounce back to $0.93–$1.00
If price breaks below $0.83 with volume: avoid entries, wait for new structure
If price reclaims $0.935+ with strength: potential long entry toward $1.05+

Decision Pending:
Currently not buying, waiting for a clearer structure or breakout above key levels.

Open to feedback from anyone following PI/USDT. What’s your view?
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