Market Overview for PIVX/Bitcoin (2025-10-10)

• PIVX/Bitcoin rallied sharply from 1.52e-06 to 2.68e-06 before consolidating near 2.26e-06.
• Strong volume surges occurred during the 2.08e-06–2.68e-06 bullish phase, confirming momentum.
• RSI hit overbought levels above 70 mid-day before retracing, hinting at near-term profit-taking.
• Price remains above key support at 1.8e-06, suggesting bullish bias intact.
• Volatility expanded during the rally phase, with Bollinger Bands widening significantly.

The PIVX/Bitcoin pair opened at 1.52e-06 (12:00 ET − 1) and surged to a high of 2.68e-06 during the session. The 24-hour low was recorded at 1.41e-06, with the price closing at 2.26e-06 (12:00 ET). Total volume for the period reached 5,434,375.0, with a notional turnover of approximately $457,635 (based on BTC price of $65,000). The price action reflects strong buying pressure after 06:30 ET, with a broad-based bullish wave forming.

Structure and formations suggest a key support level at 1.8e-06 and a dynamic resistance cluster from 2.5e-06 to 2.6e-06. A strong bullish engulfing pattern formed around 10:45 ET as PIVXBTC surged from 2.36e-06 to 2.5e-06. Later, a bearish harami pattern at 14:45 ET hinted at a short-term pullback. A long lower shadow at 15:15 ET indicates rejection of bearish pressure. The 2.26e-06 close lies above the 50-period moving average, reinforcing a medium-term bullish bias.

Moving averages show the 20-period line above the 50-period on the 15-minute chart, indicating rising momentum. The 50-period daily MA crossed above the 200-period MA earlier in the month, forming a golden cross. The 50-period MA currently sits at 2.08e-06, providing psychological support. A break above 2.4e-06 could see the 100-period MA at 2.5e-06 become a key resistance. Price remains above both MAs, suggesting continuation of the trend.

Bollinger Bands expanded significantly during the 2.08e-06–2.68e-06 rally, with price often sitting near the upper band, indicating high volatility and bullish momentum. The bands have since begun to contract slightly, suggesting potential for a rangebound phase unless buyers push the price above 2.55e-06. RSI peaked at 78 mid-day, then corrected to 54, indicating temporary profit-taking. MACD crossed above the signal line around 07:00 ET, confirming the bullish breakout. A retest of the 2.26e-06 level could trigger another wave of buying.

The volume profile showed a sharp increase during the 06:30–10:45 ET rally, with turnover surging by over 600% from the previous day's average. This confirms strong conviction behind the bullish move. However, a divergence emerged in the 14:30–16:00 ET period, where volume declined despite a pullback in price—this could suggest fading momentum. Turnover remained steady near the 2.26e-06 close, indicating consolidation rather than a reversal.

Fibonacci retracement levels drawn from the 1.41e-06–2.68e-06 move indicate 38.2% at 2.04e-06, 50% at 2.05e-06, and 61.8% at 2.29e-06. The current close of 2.26e-06 aligns with the 61.8% retracement level, which may act as a key support or pivot zone. A break above 2.3e-06 could target the 78.6% level at 2.49e-06, while a failure to hold 2.26e-06 may pull the price toward the 50% and 38.2% levels for retesting.

Backtest Hypothesis
A potential strategy could involve a 15-minute chart-based breakout approach, entering long on a close above 2.26e-06 with a stop just below 2.21e-06. A target could be set at 2.35e-06 (38.2% retracement) and 2.49e-06 (78.6% retracement). Short-term traders may look to exit at the first target and trail stops if volatility continues. The recent MACD crossover and volume confirmation suggest the strategy has high probabilistic favorability if executed within the next 6–8 hours.