Market Overview for PIVX/Bitcoin (PIVXBTC) as of 2025-11-03

• PIVX/Bitcoin traded in a 2.29e-06 to 2.42e-06 range over 24 hours, closing near the mid-range.
• Strong bearish momentum emerged during the overnight hours, with declining volume and RSI nearing oversold levels.
• Bollinger Bands showed moderate contraction, indicating reduced volatility and potential consolidation.
• Notable divergence between price and turnover was observed near key support levels.
• A bullish breakout failed after 2.4e-06, suggesting continued bearish bias for the near term.

24-Hour Price and Volume Summary

At 12:00 ET – 1 on 2025-11-02, PIVX/Bitcoin opened at 2.33e-06 and traded as high as 2.42e-06 during the day. The pair closed at 2.21e-06 at 12:00 ET on 2025-11-03, settling below the opening level. Total volume for the 24-hour period was 820,857.0, with a notional turnover of approximately 1.85 BTC (based on PIVXBTC price movements).

Structure & Formations

Price action revealed a key bearish breakdown from a prior consolidation range. A strong bearish engulfing pattern formed around 2025-11-02 21:45 ET after a failed attempt to break above 2.4e-06. Later, a doji formed near 2.29e-06 around 02:00 ET, indicating indecision and potential support. Key support levels were observed near 2.27e-06 and 2.25e-06, while resistance lingered at 2.34e-06 and 2.38e-06.

Moving Averages and Momentum

On the 15-minute chart, the 20-period MA (2.33e-06) and 50-period MA (2.34e-06) crossed below the price after a late afternoon drop. MACD (12,26,9) turned bearish with a negative histogram, confirming momentum decay. RSI hovered near 30 by 05:00 ET, signaling oversold territory, though volume failed to confirm a bullish reversal.

Volatility and Divergence

Bollinger Bands constricted during the overnight consolidation, reaching a narrow width of 0.02e-06. As price broke below the lower band near 2.25e-06, volatility expanded again, reaching 0.04e-06 by 07:00 ET. However, turnover did not increase proportionally, indicating weak conviction.

Volume and Turnover Anomalies

Volume surged during a 21:15 ET breakout attempt, but price closed lower, forming a bearish divergence. Turnover was muted during the oversold bounce around 05:00 ET. A large-volume sell-off around 21:15 ET and again around 05:30 ET signaled institutional bearish pressure.

Fibonacci Retracements and Key Levels

Applying Fibonacci to the key 2.29e-06 to 2.42e-06 swing, the 38.2% retracement level at 2.34e-06 held as resistance. The 61.8% level at 2.30e-06 acted as a temporary support but failed to hold. Daily swings showed 2.25e-06 as a strong support area (61.8% retracement from a prior bear move).

Backtest Hypothesis

A potential backtesting strategy could target short-term bearish opportunities when RSI < 30 and price breaks below the 20-period MA on the 15-minute chart, with volume confirmation of a sell-off. The setup could target a stop-loss just above the nearest resistance and a take-profit aligned with the prior 61.8% support level. This approach may be most effective in low-volatility conditions following consolidation, such as seen around 03:00–05:00 ET.