PYR/USDT

1. Current Price Level: The price is trading at $4.535, showing a slight 0.85% increase within the last 24 hours.

2. Historical High: PYR reached a peak of $50 in November 2021, which serves as a critical long-term resistance.

3. Trendline Analysis:

A descending trendline connects the lower highs, indicating a long-term bearish trend that is yet to be broken convincingly soon.

Recent price action shows consolidation around the $2.05 to $4.50 range, potentially forming a base for a trend reversal.

4. Support Levels:

$2.059 (recent swing low) acts as a strong support level.

5. Resistance Levels:

$17.24: This is the first significant resistance from historical price action.

$34.819: Next major resistance level, indicating significant profit-taking zones for bulls.

Projection:

The drawn speculative projection shows:

1. A potential breakout from the descending trendline, which could act as a catalyst for an upward move.

2. Possible retest of $17.24, with the likelihood of a continued rally toward $34.819 if momentum builds.

Indicators & Sentiment:

Volume: Increasing volume around the breakout levels will confirm the upward momentum.

MACD & RSI: Adding these indicators would provide confirmation for a bullish divergence or momentum shift.

Strategy:

1. Bullish Scenario:

Entry: Above the trendline breakout (around $5-$6).

Targets: $17.24 (short-term) and $34.819 (mid-term).

Stop Loss: Below $4 or the trendline.

2. Bearish Scenario:

If price fails to break the descending trendline, it may retest the $2.059 support.

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