PIEVERSE had traded within a descending channel since its rejection at $2 in September. Its latest recovery suggested a possible bottom.
Over five days, the altcoin climbed after defending $1. Successive higher closes took it to $1.19. At press time, PIEVERSE traded near $1.18, up 11% daily, while Trading Volume rose 28%.
Daily Turnover reached $3.9 million, its highest since September, reflecting increased activity as the price recovered.
Why is PIEVERSE rallying now?
With no clear coin-specific catalyst, market chatter pointed to a possible short squeeze.
Short Liquidations reached $19,000 over 24 hours, compared with $4,000 in Long Liquidations. Shorts accounted for over 78% of the total. The imbalance suggested rising prices had forced some bearish positions to close, potentially adding fuel to the rally.
Are PIEVERSE traders backing further gains?
Beyond those forced exits, derivatives activity picked up as traders added exposure. CoinGlass data showed Open Interest climbed 17% to $44 million, while Derivatives Volume rose 183% to $33 million.
Together, these increases pointed to greater participation. The directional picture was less settled.
Binance’s Long/Short Ratio rose above 1, while its Top Traders’ Long/Short Ratio reached 1.7, indicating a bullish lean. However, the overall Long/Short Ratio stayed near 0.970, with OKX around 0.08. Bullish positioning was uneven across exchanges.
Could spot selling stall PIEVERSE’s rally?
That hesitation also appeared in the spot market, where selling accompanied the recovery.
After PIEVERSE’s gains, Spot Delta fell to −20,000, indicating sell-side aggression exceeded buy-side aggression during the measured period.
Exchange flows added to the caution. Over 24 hours, Inflows rose to $968,000 while Outflows fell to $902,000.
Spot Netflow consequently increased 246% to $66,000. More funds entered exchanges than left, potentially increasing available selling supply.
Can PIEVERSE reclaim THIS next?
Even with spot selling, price momentum improved. The Relative Strength Index (RSI) formed a bullish crossover and climbed to 57.
The Moving Average Convergence Divergence (MACD) also formed a bullish crossover, rising to −0.045.
Both indicators supported the recovery, although the MACD remained below zero. A lasting reversal still needed confirmation.
If momentum held, PIEVERSE could reclaim $1.20 and target $1.33. Continued spot selling could instead trigger a retracement toward $1.02.
Final Summary
- PIEVERSE gained 11% as Short Liquidations and rising Open Interest accompanied its recovery.
- PIEVERSE’s $1.20 test approached with improving momentum, while spot selling threatened a pullback toward $1.02.