🚨 $PYR /USDT TECHNICAL ANALYSIS – MOMENTUM GAINING 🚨
The PYR/USDT chart on the 1-Day timeframe reveals a notable upward movement after bouncing off a local low. This rise in price by over 5% suggests renewed buying interest, yet the asset remains below key resistance levels that need to be overcome to signal a true bullish shift.
Current Price: 2.541
Key Indicators:
Resistance Level (White Indicator):
Primary Resistance at 2.847 – A move above this could signal a stronger bullish trend.
Major Resistance at 3.175 – Breaking this level would confirm a significant upward trajectory.
Support Level (Red Indicator):
Immediate Support at 2.466 – Maintaining this level is critical for sustaining current momentum.
Major Support at 2.138 – A drop below this level could reignite bearish pressure.
Short Trade Signal:
Entry Point: Below 2.466 if price shows rejection at the 2.847 resistance.
Target 1: 2.400
Target 2: 2.250
Stop Loss: 2.847 – To limit potential loss.
Long Trade Signal:
Entry Point: Above 2.847 for a breakout confirmation.
Target 1: 3.000
Target 2: 3.175
Target 3: 3.227
Stop Loss: 2.466 to manage risk effectively.
Cautionary Note:
Keep an eye on the price action near the 2.847 resistance. A clear breakout with volume could push the price higher, while failure at this level may signal a pullback. Monitor overall market conditions for additional cues.
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