PIUSDT Perptual Futures Depth Observation: big dump of nearly 8%, reaching key support, short positions dominate but is there a divergence signal?

Dear traders following $PI, the current market sentiment is bearish, especially for the PIUSDT Perptual Futures. Let's quickly outline the key points:

📉 Current price and big dump:
Latest Price: 0.40399 USDT
The 24-hour fall reached -7.7% / -7.85%, and the trend is quite weak.
The lowest price in the last 24 hours reached 0.38451 USDT, while the highest was only 0.43976 USDT. The current price is very close to the intraday low, indicating that the support below is facing a severe test.

📊 Market Heat and Rankings:
24-hour trading volume ( PI ): 125 million PI
24-hour trading volume ( USDT ): 51.043 million USDT, market activity is acceptable.
Ranked 6th in the Layer 1 sector.

📈 Technical Indicators - Moving Averages & MACD:
Short-term moving average short positions arrangement: MA5 (0.40989) is below MA10 (0.46208), and the price is below both, indicating a downward short-term trend and confirming a strong short position trend. However, the current MACD histogram shows a slight positive value (0.00427), which is a potential "bottom divergence" signal. This indicates that the downward momentum may be slowing, although the overall trend has not yet reversed. Close attention needs to be paid to whether the MACD bar can continue to amplify and drive the DIF/DEA golden cross upwards.

🔍 Key Position:
Key support below: 0.38451 USDT*( intraday low, which is also a strong support level recently ). If it breaks down effectively, it may open up further downside.
Resistance above: *In the short term, look at MA5 (0.40989) and MA10 (0.46208), with a more important psychological barrier around 0.44 (approaching the intraday high).
Historical volatility reference: The chart shows that the price has dropped to as low as 0.17327 USDT and risen to as high as 1.94599 USDT, indicating that this cryptocurrency is highly volatile.

The market is changing rapidly, please make decisions based on the latest market conditions, more comprehensive indicators (such as RSI, volume distribution), and market news. Be sure to manage risks properly!
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