Short setup for $PIEVERSE based on current chart structure:
Entry zone 1.18 to 1.25
This area sits below recent rejection and acts as a weak resistance after the sharp drop
Take profit targets
TP1 1.00
TP2 0.90
TP3 0.75
Stop loss
1.40 above recent lower high and resistance zone
Analysis
After a strong pump to 1.76, price showed clear rejection with large red candles, signaling selling pressure. The structure now looks like a lower high formation, which is typically bearish in the short term. Volume on the drop also increased, confirming distribution rather than simple pullback.
If price fails to reclaim 1.25 and shows rejection again, it can continue moving downward toward key support levels. The 1.00 psychological level is the first target, and breaking below it may accelerate downside. Momentum is weakening, so short positions have an edge if resistance holds.
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