#CryptoTrading. #TechnicalAnalysiss #Signalš„.
šTechnical Analysis (1 hour) $PYTH /USDT
1. Price and Trend:
ā¢ Current Price: 0.14797 USDT (+3.53% for the period).
ā¢ The chart shows a recent rise after a local low at ~0.13758, which may indicate the beginning of a correction or a reversal of the upward trend. However, the overall trend remains bearish, as the movement is below the moving average (MA).
2. Technical Indicators:
ā¢ Bollinger Bands (20, 2): The price is approaching the upper limit (0.14807), which may signal overbought conditions in the short term.
ā¢ MACD: The MACD line (0.00079) crosses the signal (DEA, -0.00004) from below upwards, which is a bullish signal, but the difference is small, so the trend is not yet confirmed.
ā¢ Stochastic RSI: Both indicators (97.80698 and 97.8349) are in the overbought zone (>80), which may indicate a possible downward correction.
ā¢ Volume: The increase in volumes (8.22B) during the last price increase supports the bullish movement, but it is necessary to monitor their stability.
3. Support and resistance:
ā¢ Support: ~0.13758 (local minimum).
ā¢ Resistance: ~0.15285 (previous maximum).
ā ļøConclusion:
ā¢ In the short term, the price may continue to grow to the resistance level of 0.15285, but the overbought (Stoch RSI) and the approach to the upper Bollinger Bands signal the risk of a correction.
ā¢ It is recommended to monitor the volumes and MACD confirmation. If the volumes fall, a return to the support of 0.13758 is possible.
Buy Signal: š¢
ā¢ Condition: Price will bounce off the support at 0.13758 on increasing volume.
ā¢ Target: 0.15285 (resistance).
ā¢ Stop Loss: 0.13400.
Sell Signal: š“
ā¢ Condition: Price will reach the resistance at 0.15285 with signs of overbought (Stoch RSI > 90).
ā¢ Target: 0.13758 (support).
ā¢ Stop Loss: 0.15600.
Watch volume and MACD updates for confirmation.
