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PI's foray above $0. 10 faces stern rejection
It was a bit difficult for the bulls to square this outcome. They succeeded in driving prices past $0.10, a key round-number level that has been a supply zone since July.
However, this rally turned out to be only a few hours long.
Notably, the retracement swept the $0.085 support zone and has climbed back to $0.09 over the past week. The technical indicators were flat. PI's OBV lacked a trend over the past six weeks, and the MACD has recovered from deeply bearish momentum to more neutral conditions, but was still not bullish.
Moreover, the prevalent swing structure on the daily timeframe was bearish. The Fibonacci retracement levels plotted the $0.113-$0.124 as the key resistance that could trigger a bearish trend continuation.#GateLaunchesJapaneseStockTrading #U.S.StrikesIranBTCDips #GateIdleEarnAutoYieldUpTo3% #GateEventContractTradeSharingChallenge #AIStartupsRaise400BInSixMonths $PI