Whatever way you want to draw the upper line of the descending triangle from the peaks in 2017/2018, PIVX has broken out of it. I see it therefore free up to the old ATH around $13 any time now.
Fundamentally, it is still as healthy as it can be, steady improvements to the wallet: upcoming release of v6.0 this year with some interesting additions (I expect a big marketing campaign at the same time) and the long awaited shielded (private) staking expected for Q1 2022.
Interesting side fact: ZCash officially announced that they want to develop a proof-of-stake core wallet in the upcoming three years (zkSnarks + PoS), which was welcomed by the majority of the community. PIVX completed that step already in January 2021.