Market Overview: PIVX/Bitcoin (PIVXBTC) 24-Hour Summary as of 2025-09-22 12:00 ET

• PIVX/Bitcoin (PIVXBTC) saw a bearish drift from 1.17e-06 to 1.08e-06, ending near the session low.
• Momentum slowed with RSI hovering in oversold territory, suggesting potential for a short-term bounce.
• Volume activity was concentrated in the mid-to-late session, with key selling pressure visible after 01:00 ET.
• Bollinger Bands tightened before the final leg down, indicating a potential for continued volatility.
• Key support at 1.08e-06 and resistance at 1.13e-06 define the immediate trading range.

Price Movement and Initial Summary

PIVX/Bitcoin (PIVXBTC) opened at 1.17e-06 on 2025-09-21 12:00 ET and drifted downward over the next 24 hours, closing at 1.08e-06 by 12:00 ET on 2025-09-22. The low for the session was 1.07e-06, and the high was 1.17e-06. Total volume amounted to 251,366.0 units, with a turnover of approximately $279,439 (notional, based on Bitcoin price). The pair shows a clear bearish bias over the past 24 hours, with price testing multiple support levels before settling near session lows.

Structure & Formations

Price action revealed a strong bearish trend with no significant reversal patterns over the 15-minute chart. A key support level has formed at 1.08e-06, where the price has consolidated multiple times. A bearish engulfing pattern emerged around 06:15 ET, indicating a continuation of the downward trend. No significant doji or bullish reversal signals were observed, reinforcing the bearish narrative. The pair is likely to test 1.07e-06 as the next immediate support level before any potential bounce.

Moving Averages and Key Resistance

On the 15-minute timeframe, the 20-period and 50-period moving averages are both bearishly positioned, confirming the downward trend. On the daily chart, the 50-period and 200-period moving averages are also bearish, with the 200SMA acting as a key resistance level around 1.15e-06. Price has shown repeated rejection from this level, suggesting it is a critical psychological and technical hurdle. A break above 1.15e-06 could signal a potential reversal, though current momentum does not support such a move.

Momentum, RSI, and MACD

The RSI has been hovering in the oversold zone (below 30) for much of the session, indicating the market may be due for a short-term bounce or consolidation phase. However, the MACD remains bearish, with the histogram showing a consistent bearish divergence between price and momentum. A bullish crossover in the MACD could be a watchful sign for a potential short-term rally, though it is unlikely without a significant increase in buying pressure. PIVXBTC appears to be in a phase of low volatility and low conviction bullish action.

Bollinger Bands and Volatility

Bollinger Bands have seen a period of contraction in the early part of the session, followed by a widening as price accelerated downward after 01:00 ET. Price has remained below the middle band for most of the period, indicating bearish momentum. The lower band currently sits near 1.08e-06, aligning with the recent consolidation area. A breakout below this level could trigger further selling pressure, while a move back toward the upper band could offer a short-term bounce opportunity.

Volume and Turnover Dynamics

Volume spiked during the downward leg of the move, particularly between 01:00 ET and 06:15 ET, confirming the bearish move. However, volume has decreased in the latter part of the session, suggesting a lack of conviction in further downside. Turnover has mirrored this volume pattern, with the most significant notional value transacted during the key selling periods. The divergence between volume and price suggests that the market is consolidating and may be entering a phase of lower conviction in the trend.

Fibonacci Retracements and Key Levels

Fibonacci retracement levels drawn from the 1.07e-06 swing low to the 1.17e-06 swing high suggest that 1.13e-06 (61.8%) and 1.15e-06 (78.6%) are key resistance levels. The 1.09e-06 level (38.2%) has also been a point of consolidation, indicating possible support. The 61.8% level remains a critical target for any potential short-term bounce, while 1.08e-06 continues to act as a strong floor.

Backtest Hypothesis

A backtesting strategy could be built on the assumption that a bounce off the 1.08e-06 support level, confirmed by a bullish reversal pattern (e.g., a hammer or a bullish engulfing candle), could serve as a buy trigger. A stop loss would be placed just below the next support at 1.07e-06. The target would be the 61.8% Fibonacci level at 1.13e-06, with a trailing stop once price clears that level. This approach would be best suited for a short-term breakout strategy, particularly during low volatility periods when consolidation is likely to precede a breakout.