Expert opinion: bearish #PYTH (from Coinsradar.net)
The PYTHUSDT trading pair is currently showing a bearish trend in a descending triangle pattern. A breakout of the downtrend line could indicate a bullish reversal with the target at the identified resistance level.
A potential breakout above the 50-day moving average and the rising relative strength index (RSI) could confirm the bullish trend.
On the other hand, a breakout below the support could indicate further downside risk.
Moving averages: The 50-day moving average is a key resistance level for PYTH. A breakout above this moving average could indicate a bullish shift.
Relative Strength Index: The RSI is gradually accumulating momentum, indicating a potential bullish shift.
Support and accumulation range: $0.25 to $0.31.
Resistance and target:
~ T1: 0.4946 USDT
~ T2: 0.6739 USDT
~ T3: 0.8867 USDT
~ T4: 1.0978 USDT
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