$PI The long-short balance is broken, and after a sharp sell-off, there is an instant rebound, indicating strong buying support below, sufficient chip absorption, and also reflecting that the bearish forces are quickly exhausted after the sell-off, allowing the bulls to seize the opportunity for a counterattack.

This trend may also suggest that the current price level is within the market's temporary consensus value range, with short-term funds unwilling to excessively sell off at low levels, and some investors even taking advantage of the low prices caused by the sell-off to enter positions. The key points to observe next are:
1. Check the rebound strength: Compare the decline during the sell-off with the rebound amplitude. If the rebound recovers more than 50% of the decline, it indicates strong buying; if the rebound is weak, it may be a short-term trap.
2. Observe the change in trading volume: Is the volume increasing during the rebound? A volume-increasing rebound signals capital entering the market, while a volume-decreasing rebound is likely a game among existing funds, with poor sustainability.
3. Watch key support levels: Observe whether the low point of the sell-off holds the recent oscillation zone's lower boundary. Holding indicates effective support; losing it may trigger a second decline.
4. Monitor sentiment linkage: Pay attention to the trend of mainstream coins (Bitcoin and Ethereum). If the overall market rebounds synchronously, the rebound of PI is more likely to continue; if the overall market weakens, PI's rebound is probably an independent move, and its sustainability is doubtful.