The pie is currently experiencing intense volatility in the high range. Since the recent high of 94740 yesterday, it has retraced, with the intraday low dropping to around 93000 before rapidly rebounding. In the evening session, it was pushed up to around 94460 amid market sentiment. However, selling pressure at higher levels hasn't dissipated, and a sharp drop occurred in the early hours, with the price touching the key support level of 91270. Short-term correction is still expected, but no clear breakdown has occurred during the pullback. Combined with recent institutional fund flows, the continuous net inflows into the pie spot ETF, along with Tether's ongoing accumulation of pie, provide strong support for the bullish trend.
Currently, blindly chasing the price is risky. The key resistance level is at 95000; a breakout with sustained volume is required to further open up upward potential.
Ethereum remains highly correlated with pie but also shows signs of independent resilience. The quick rebound from the 3180 support level indicates strong buying interest below. However, the red bars on the four-hour MACD for Ethereum are continuously shortening, suggesting that a sustained breakout will require continued volume.
Current strong resistance for pie is at 95000, with support near 90,000; for Ethereum, strong resistance is at 3500, and strong support is between 3,000 and $BTC