Can PIEVERSE escape its September downtrend after defending $1?

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.

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