$PYTH /USDT Trade Setup: Entry $0.1850–$0.1900 | SL: $0.1780 | TP: $0.1980 / $0.2080 / $0.2200
RETEST IN PROGRESS AFTER MASSIVE PUMP!
$PYTH is currently trading at $0.1892 (+20.89%), cooling down after reaching a 24H high of $0.2116. The 1H chart shows a healthy retracement to previous breakout levels, signaling a potential bounce setup.
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Key Levels:
24H Range: $0.1557 – $0.2116
Volume: 244M PYTH – strong market interest
Current Structure: Bullish retest after vertical breakout
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Trade Setup:
Entry Zone: $0.1850–$0.1900 (retest zone)
Stop Loss (SL): $0.1780
Take Profit (TP):
TP1: $0.1980
TP2: $0.2080
TP3: $0.2200
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Why It’s Crucial:
1. Price Stabilizing Above Previous Resistance
Price is holding above previous resistance levels, suggesting a continuation of the trend.
2. First Green Candle After Retrace
The first green candle is forming post-retrace, indicating strong buying pressure.
3. Pullback Aligns with Fibonacci Support Zone
The pullback aligns with the Fibonacci support zone, providing a solid entry point.
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Pro Tip:
Confirmation Entry: Wait for a green engulfing candle or bullish volume spike for confirmation. Avoid premature entries if the price dips below $0.185.
Ideal Entry Zone: The zone between $0.1850–$0.1900 offers a low-risk, high-reward setup when the price retraces and shows confirmation.
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Final Word:
$PYTH is retesting previous breakout levels and looks set for bullish continuation. If the price holds around the $0.1850–$0.1900 zone, it offers a strong risk/reward setup for the next leg up.
Are you ready to catch the bounce or will you miss out on the next breakout?
