PIEVERSE — Rising Channel Exhaustion & Correction SetupThe price is moving inside a clean rising channel , forming a classic three-wave structure: (a) → (b) → (c). The upper boundary of the channel has now been reached, and wave (c) shows signs of exhaustion, which often precedes a corrective move.
Given the overextended structure and the repeated reactions from the channel resistance, the market is likely preparing for a downside correction. Once the local top is completed, the price may break down from the channel and retrace toward the $0.20–0.16 zone, where the next major support cluster sits.
This area also aligns with the expected correction depth after a completed ABC pattern.
Key Points:
Clean rising channel structure
Wave (c) is nearly completed
Expecting a correction after resistance rejection
Main target for the pullback: $0.20–0.16
