After hitting a new month high yesterday with $3.94, as PIVX released the new v3.0.0 desktop wallet, the cryptocurrency continues its battle with the resistance around $3.75 since first breaking through two days.
As predicted on October 12th, the cryptocurrency looks set to retest the $4 mark again with a strong likelihood of closing above the resistance level today, courtesy of the successful release of PIVX's new desktop wallet upgrade including zk-snarks.
Final resistances for this chapter will include $4.16 and $4.44, the privacy-based coin's previous highs of early September. These were in part due to increased interest in privacy based coins as the IRS announced it's been tracking Bitcoin revenue since 2015, causing the currency to double in price within a week.
It also seems probable that while setting news highs around $4.50 or possibly higher, PIVX will slope back down to the current support levels of $3.50, before establishing new support around current resistance levels of $3.75.
With a solid rise in price in the past 6 months, PIVX now looks ready to be one of the few anonymous based cryptocurrencies to return to its previous highs established last month.
