The Daily chart of $PYTH /USDT is showing a super bullish wedge pattern, a classic setup that often signals a potential breakout after a period of tightening price action. With market momentum starting to heat up again, this pattern could be the calm before the surge! ๐ฅ
Letโs break down the levels and structure ๐
๐ข Entry Zone: $0.87 โ $0.91
This zone has acted as a demand area in the past, where price bounced multiple times with strong volume.
Traders closely watching this pair may observe how price behaves if it reenters this zone โ a hold here could suggest growing buying interest and potential for continuation ๐
๐ช DCA Level: $0.836
If price dips below the entry range, some traders might use Dollar Cost Averaging (DCA) strategies near $0.836 โ historically a level where PYTH found deeper support.
It's essential to remain cautious and scale in mindfully if using this approach.
๐ก๏ธ Stop-Loss Zone: $0.786
Below this level lies a major structural support on the chart. If price drops below this zone, it may indicate a breakdown of the wedge structure.
Using a stop-loss here helps protect capital in case momentum fades or the setup becomes invalid
๐ Why This Setup Matters
๐ Bullish Wedge: Compression usually leads to expansionโwatch for breakout volume
๐งฒ Demand Zone: Price has previously respected this area with strength
โก Momentum Building: Market conditions favor altcoin rotationโPYTH could be next in line
๐ Final Thoughts
PYTH is showing technical strength and consolidation within a classic bullish wedge pattern. If the structure holds and breaks out with confirmation, the move could be quick and powerful.
As alwaysโthis content is for educational purposes only. Price action can shift, and proper risk management is vital. Are you watching this wedge form?
