$PYR
/USDT technical analysis and potential trade strategy🚀🎯
Technical Analysis:
1. Price Action: The price of PYR has recently moved up by 13.68%, reaching a high of $4.96. It’s currently trading near the $4.79 level, showing strong bullish momentum, but caution is needed as it's approaching the 24h high.
2. Volume Analysis: The 24h volume for PYR is 3.77M, and for USDT is 16.88M, indicating active trading. The high volume over the past 30 days (88.43%) suggests that there’s significant interest in the asset. The bid depth (19.20%) indicates strong buying interest, which could support further upward movement.
3. Indicators:
MACD: Positive today (12.10% increase) with a favorable trend.
Bollinger Bands: Assuming the bands are expanding, it would suggest volatility with a possible upward trend continuation.
SAR: If the Parabolic SAR is aligned with the current price movement, it would indicate a buy signal.
4. Support and Resistance Levels:
Support: $4.10 (24h low)
Resistance: $4.96 (24h high)
Trade Strategy with Three Target Keys 🎯:
1. Entry Point:
Consider entering at current levels near $4.79 or if there's a slight dip to $4.60 (support zone) to capture more upside potential.
2. Target 1 🎯: $4.96 (24h High)
Set the first target around $4.96, where the price recently topped out. This is a short-term profit-taking point as it might face resistance near this level.
3. Target 2 🎯: $5.20
If the price breaks above the 24h high, the next key resistance could be around $5.20. This would be a logical next step if momentum continues, especially if trading volume stays strong.
4. Target 3 🎯: $5.50
As the price continues to show bullish strength, $5.50 could be the next target based on further positive trends and sustained buying pressure.
Stop-Loss Strategy:
Place a stop-loss just below $4.50 (near recent support levels) to limit potential downside risk if the price fails to sustain above $4.60.
