PIVX is one of the only coins in the top 100 appreciating today. It has had a strong performance over the past two days, increasing from around $1.1 yesterday to an intraday high of $1.5 today. It has since started to retrace and is currently trading around $1.22, but the performance of PIVX is still good given that most coins are depreciating in the double-digits today.

Standing for private instant verified transaction, PIVX is a fork of DASH. DASH is the most well-known coin implementing the proof-of-stake system where users can hold coins and receive a monthly dividend from operating a masternode. PIVX holders who have at least 10,000 coins also have the option to operate a masternode. There is no clear catalyst for PIVX’s upward movements in a dropping market. The price has been steadily increasing and investors may be considering the price of PIVX as cheap to obtain a masternode. Back in January, it would have cost about $120,000 to obtain enough PIVX to operate a masternode. At today’s prices, it costs approximately $12,200.

RSI has been increasing forming higher highs and higher lows showing increasing momentum to buyers. The MACD has been diverging to the upside also showing increasing momentum to buyers.

PIVX Outperforms in Dropping Market. Pivx Daily Chart – Source: Tradingview.com

Key Takeaways:

  • PIVX rises from $1.1 yesterday to an intraday high of $1.5 today despite a falling market where many coins are recording double-digit losses.
  • No clear catalyst for the drop but many may be considering the price cheap to obtain a masternode with the price earlier in the year being approximately $120,000.
  • MACD diverges to the upside and the RSI increases forming higher highs and higher lows both showing increasing buyers momentum.
DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

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