Pyth longPyth broke out of algorithm support, expecting the price to seek equilibrium in the blue line. Easy money from my point of view.
NFA
PYTHUSD trade ideas
so simple., will longUpward channel, upward oscillation range, lower boundary support position, upward long position, simple line drawing technique, correct line drawing technique
Why #PYTHLooks Like a Promising Trade OpportunityWhy #PYTH/USD Looks Like a Promising Trade Opportunity
I've been closely monitoring the performance of PYTH/USD, and based on the recent price action and technical indicators, I believe we have a solid trade setup here. Let's dive into the details:
1. Descending Wedge Breakout Potential: As shown in the chart, PYTH/USD has been trading within a descending wedge pattern. This pattern is often considered bullish, as it indicates a potential reversal. The price has been consolidating near the lower boundary, suggesting that a breakout to the upside might be imminent.
2. Support Levels Holding Strong: The price has consistently found support around the $0.23 level. This strong support base increases the likelihood of an upward move, as buyers are stepping in to defend this level.
3. Volume Analysis: There's an increase in buying volume as the price approaches the wedge's apex. This volume spike indicates that bulls are gaining strength and are likely preparing for a breakout.
4. RSI Indicator: The Relative Strength Index (RSI) is showing bullish divergence. While the price has been making lower lows, the RSI has been making higher lows. This divergence often precedes a price reversal, adding another layer of confidence to our bullish outlook.
5. Risk-to-Reward Ratio: The potential upside from a breakout is significant compared to the downside risk. With a well-defined stop loss below the recent support level, the risk-to-reward ratio is highly favorable, making this trade setup even more attractive.
In summary, PYTH/USD is exhibiting several bullish signals that align with a high-probability trade setup. By entering at the current levels, we can capitalize on the potential breakout while managing risk effectively.
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Huge PYTH token unlockThere is a huge unlock of the PYTH token today at 2:00pm UTC. Be prepared for some major dumpage!!! Price seems to be being inflated now to maximise the drop.
📉📈 PYTH Support and Potential Upside! 🚀💹
📊 Analysis:
Support Zone: PYTH is compressing down to $0.905, indicating a support zone.
Building Up: Signs of building up are observed in this support area.
Laddering In: Consider laddering into positions at this level.
Next Support: If $0.905 fails, next support likely at $0.80.
📈 Trade Plan:
Entry: Initiate a trade around $0.905.
Take Profit: Target set at $1.10 for potential upside.
Stop Loss: Place just below $0.78 to manage risk.
🌟 Note: Stay vigilant for any shifts in market dynamics and adjust strategies accordingly! 🌐🚀 #PYTH #Support #TradePlan 📊📈
📈 PYTH Trade Analysis 📉📊 Market Observation:
Current Movement: PYTH is approaching a significant area of interest where previous resistance levels could turn into support.
Fibonacci Level: The 0.618 Fibonacci level aligns with this area of interest, adding to its significance.
Strategy: Dollar-Cost Averaging (DCA) will be utilized to accumulate positions as price enters the support zones.
📈 Trading Plan:
Buy Zones: Look to initiate buy positions in two areas of interest: around $0.57 and $0.80.
Take Profit: Target profit areas are set around $1 and $1.80, allowing for potential gains as price reacts to the support zones.
Stop Loss: Implement a stop-loss strategy to manage downside risk, with a daily close below $0.50 serving as a signal for potential trend reversal.
PYTH --- Has created a new Inverse Head & shoulders pattern Which points to $1.25 on the log scale.
We did well previously on Pyth and had a pattern that got us to the current neckline.
The subsequent retrace has created a new right shoulder for us.
So here we are with a Double lined up for us.
Best of Luck.
$PYTH showing strengthIt seems like PYTH:PYTHUSD is showing some strength during crypto-wide bearish PA. If 38 cents is held today and BITSTAMP:BTCUSD consolidates at $40k I think it will have room to move up from this level to test the highs and maybe further. Lets see...
Is $PYTH preparing for another +50?My scripts found a pattern in PYTH which if it repeats, pushes the price +50% close to $1 clsoe to end of next week (probably Sunday March 10th because candles range are 74-77).
in the scripts were considered Large VS Retail traders, DMA, Numbers of candles, trendline angles, Advanced RSI, volatility index and so on.
📈 PYTH: Building Support Structure for the Next Run Up! 🚀💹📊 Analysis:
Support Structure: PYTH is building support at $0.649.
Next Target: Aiming for the next run up, targeting resistance at $0.797.
Crucial Level: $0.687 is a crucial level; needs to claim and hold it.
📉 Potential Scenarios:
Optimistic Scenario: Successful hold of $0.687, targeting $0.797.
Bearish Scenario: Potential drop to $0.535 in case of a breakdown.
🌐 Note: Monitor closely for key levels and market dynamics! 📊🚀 #PYTH #SupportStructure #ResistanceTarget 📉📈
$PYTH Trend Line to Watch, Potential 35% LongI am currently watching this SEED_DONKEYDAN_MARKET_CAP:PYTH downward trendline waiting for some sign of a break out before entering a long position. This will most likely be confirmed or cxled in a couple days depending on Bitcoin's price movement. Lowest entry could lead to a quick 35% spot gain.
PYTH's Bull Run Eyes $1 Milestone!Rising Channel Pattern: PYTH is forming a rising channel pattern amidst its ongoing bull run, suggesting a structured uptrend.
Buying Opportunity: The recent dip within the channel is seen as a buying opportunity, indicating potential for upward movement.
Potential Breakout to $0.63: The bull cycle may see a breakout at $0.63, aiming to challenge the $0.90 mark next.
126% Jump in 45 Days: PYTH has seen a significant recovery, with a 126% price increase in the last 45 days, highlighting its strong performance in the market.
Aiming for $1 Mark: Amidst the market recovery, PYTH is projecting a high likelihood of reaching and potentially surpassing the $1 mark.
Testing Fibonacci Level: PYTH price tests the 1.618 Fibonacci level at $0.65, indicating critical resistance within the rising channel pattern.
Supply Increase at $0.65: An increased supply at $0.65 has led to a dip, testing the bottom support trendline of the rising channel.
Current Trading Price: PYTH is currently trading at $0.56, with a minimal intraday move but showing signs of a late-night recovery.
Technical Indicators: The DMI indicates a pullback phase with potential for a bullish crossover, supported by the formation of a morning star pattern.
Rising Channel Reversal Chances: The channel presents significant reversal chances that could challenge the $0.65 breakout point soon.
Fibonacci Levels and Resistance: A breakout rally may face resistance at $0.90, aligning with the 2.618 Fibonacci level.
Support Line Breach Consequences: A dip below the support line could potentially lower the market price to $0.44.
PYTH TO THE MOONBeautiful. Nothing to explain. Pump It.
TLDR: There are more than 150 tokenless Protocols/Projects using PYTH as their data oracles.
Staking 1000+++ SEED_DONKEYDAN_MARKET_CAP:PYTH may get you to those project's airdrop in the future.
PYTH leads the way for SOL SurvivorsWith all the many new projects tied to SOL and the strong interest in SOL itself, PYTH is leading the way out of the SBF/FTX jungle. Even when the lights went out (again), SOL managed to cling to its price. LLAMA Defi lovers can find SOLs activity. There has to be a plan B real world oracle crypto for a while at least. If Van Eck is right, and speed is essential, it seems to me SOL has second place for a while. Not financial advice.
PYTH/USDT$PYTH
very good R:R here, reclaim on the falling wedge pattern, bulls got shaken out twice!
put SL below falling wedge support
GL
PYTH/USD$PYTH really nice setup loading, descending channel break out and take profit on the green resistance line!
PYTH/USDT$PYTH has formed a rising wedge pattern which is a bearish pattern, do not get scared its ok, bitcoin recently invalidated 3 huge bearish patterns and increased in price, if we breakdown red line we short, if you are long use support red line as a SL guide
PYTH/USDTthose who have been following, we absolutely nailed $PYTH shorting it, now we are going to try nail it longing it, but lets take some things into consideration before we position ourselves!
We have the blue diagonal line as resistance, I have drawn a green line beneath it as an alert ready to trade the breakout, the thing is we are actually in a bearish pattern which is an ascending channel and we can come down to .39, confirmation of that would be breaking down from the red line, and invalidation of it will be breaking the resistance of the white line of the channel.
Set alerts and lets find the best entry to long this, I honestly do hope we come down to .39
PYTH/USDT$PYTH many will probably dislike this chart, but I am just pointing out the obvious, there is two bearish patterns here and I have measured the targets, many will also say thanks in dm after!
GL
