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PYTHUSDT trade ideas

#PYTH Why Enter This Trade?In the chart for the #PYTH/USDT pair , several key technical signals make this trade attractive: 1. Breaking the Descending Trend Line: As seen on the chart, the price has broken the descending trend line, which is a strong signal for entering the market. This indicates a possible start of a new uptrend. 2. Formation of Support Zone: The support level is marked at 0.3402, providing a reliable base for setting a stop-loss. This minimizes risks and allows for control of potential losses if the price returns to previous levels. 3. Potential Growth to Resistance Level: The take-profit level is set at 0.7610, offering an attractive risk-reward ratio. This means that the potential profit significantly exceeds the risk, making this trade appealing. 4. Increasing Trading Volume: Recent candles show an increase in trading volume, often preceding significant price movements. High volume confirms market interest and may indicate trend strength. 5. RSI Analysis: The RSI indicator is not in the overbought zone, indicating potential for further growth. This gives additional confidence that the asset is not overvalued and has room to move upwards. Conclusion: Considering the technical analysis and identified signals, entering this trade seems justified. It's important to remember risk management and set a stop-loss at 0.3402 to limit potential losses. Trading always involves risks, so using technical analysis along with risk management strategies will help achieve optimal results. ___ P.S. Hello, everyone! We decided to start a marathon and increase our capital from $2 000 to $2 000 000 We will be trading on sports in a manual format with stop loss and take profit. Important ❗️👇 1. We do not sell training, signals, private channels or any other products. We are just recording our journey for the purpose of a public experiment. 2. Any investment in the crypto sphere can be completely lost. When we trade, we realize that we can lose everything, and if you trade, you also need to understand this. 3. We enter trades based on various data that may turn out to be wrong and lead to losses. None of the trades we enter is a guarantee of success. 👋 If you are interested in watching our experiment, we are glad to see you in our channel! 👀💲You can also watch all our trades and copy them. We have created an account for copy trading. 👉 Our sources https://linktr. ee/In_Trade_MLN
Long
by S_CAPITAL
1
PYTH Network (PYTHUSD) - Price Action Hints at Potential BullishDowntrend Fatigue - PYTH Seeks Support PYTH has been in a relentless downtrend for months, recently carving out a new low. But traders who follow price action closely might be spotting signs of a potential reversal. Key Support Zone in Focus Price has reached a critical support level (Identify the specific support level on your chart). This zone has historically acted as a price floor, and a break below it could signal further downside. However, a price rejection at this level, especially with bullish candlestick patterns, could be a significant development. Bullish Price Action Clues: Pin Bars or Hammers: Look for these reversal candlesticks forming at the support zone. Their small bodies and long lower wicks indicate buying pressure at that price level. Engulfing Bars: These candlesticks completely engulf the previous candle's body, signifying a potential shift in momentum. Bullish Engulfing Patterns: A two-candle pattern where the second candle engulfs the first candle's body and the previous day's high, suggesting a strong bullish reversal. Trading with Price Action: If you see these bullish reversal signs at the support zone, combined with a potential increase in trading volume, a long entry might be considered. However, always practice proper risk management with a stop-loss placed below the support level and realistic take-profit targets based on identified resistance zones or price channels. Remember: Price action analysis is just one tool in your trading toolbox. Always do your own research and consider other factors before making trading decisions. #PYTHUSD #PYTH #CryptoTrading #PriceAction #Support #Reversal #PinBar #Hammer #EngulfingBar #RiskManagement What price action patterns are you watching in PYTH? Share your thoughts in the comments!
Long
by SwingSamurai_QMA
4
PYTH Is Currently At Strong SupportAfter a massive sell-off, PYTH is now testing the trendline after a breakour and trading above the daily level, we might get a push down to the Value Area Low, and if that does happen and price reclaims the daily, this is a good sign to continue higher. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
1
Pyth Network (PYTH)The Pyth Network is the largest and fastest-growing first-party oracle network. Pyth delivers real-time market data to financial dApps across 40+ blockchains and provides 380+ low-latency price feeds across cryptocurrencies, equities, ETFs, FX pairs, and commodities. Anyway, Pyth is still young and few candles are availabel. However, it seems Pyth is moving in an ascending channel and recently Pyth broke the minor downtrend line. Let's see what happens.
Long
by SaeedSalehinia
Pyth Network (PYT) Technical Analysis: Navigating the Waves on tIntroduction Pyth Network (PYT), a project aimed at providing high-fidelity financial data, shows an intriguing chart pattern and technical indicators that provide a mix of bullish and bearish signals. This analysis will dive deep into the current trends and potential future price movements of PYT/USDT based on the daily chart from TradingView. Technical Indicators and Patterns EMA Lines (20, 50, 100, 200): PYT's price is currently below all major Exponential Moving Averages (EMAs), signaling a bearish trend. The EMAs also provide resistance levels on potential upward movements. Elliott Wave Pattern: The chart suggests that PYT may have completed a typical Elliott Wave correction pattern, which could imply the start of a new upward movement if supported by volume and market sentiment. Fibonacci Retracement Levels: The Fibonacci retracement tool, applied from the peak to the trough of the recent major move, indicates several key levels to watch. The 0.382 level at approximately $0.8063 could act as the next major resistance, followed by the 0.618 level at $0.5879 which currently acts as a support. Volume Profile (Visible Range): The Volume Profile shows significant trading activity around the $0.50 mark, which might act as a strong psychological and technical support level going forward. RSI and SQZMOM Indicators: RSI (Relative Strength Index): The RSI is currently at 64.28, which is below the overbought threshold, suggesting there might be some room for upward price action before the asset becomes overbought. SQZMOM (Squeeze Momentum Indicator): This indicator shows an increase in momentum, depicted by the green bars, which could be indicative of a building bullish momentum. Market Structure The market structure shows PYT in a possible reversal setup after a prolonged downtrend. The key will be whether the price can sustain a breakout above the nearest Fibonacci resistance level at $0.8063. Price Prediction and Trading Strategy Short-Term Target: Traders might consider taking profits at around $0.5762 if the price appreciates from the current levels, as it is a significant short-term Fibonacci level. Long-Term Target: For longer-term holders, reaching and sustaining above the $0.8063 level could open up the path towards $1.2729, aligning with the upper Fibonacci extension levels. Conclusion The technical setup for PYT/USDT provides a cautiously optimistic outlook, with several indicators suggesting a potential reversal or at least a significant bounce. Traders should monitor volume and price action around key Fibonacci levels for confirmation of trend direction. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a professional before making any investment decisions.
Long
by hello9dean
PYTH/USDT Gaining Momentum For a Bullish Rally | Get Ready 💎#PYTHUSDT has impressively surged out of a descending channel and is now testing a crucial juncture where former resistance has become support. The Point of Control (POC) of the VRVP Channel provides crucial support, enhancing the chances of a bullish continuation. 💎If #PythNetwork can successfully hold this retested support at $0.400, we anticipate a powerful rally propelled by the strong momentum at this level. 💎However, if SEED_DONKEYDAN_MARKET_CAP:PYTH loses its footing and descends into the channel, dipping below the current support, it could signify a shift back to a bearish trend. The next key demand zone is at $0.355, a level renowned for its liquidity and historical bullish rebounds. 💎Should #PYTH revisit this demand zone, it's vital for the price to secure a strong rebound to uphold support. Failure to achieve this could boost bearish forces, worsen market sentiment, and potentially result in further price declines. 💎Keep your strategies adaptive and remain alert, Paradisers. Your ParadiseTeam is vigilantly monitoring the market and ready to guide you through the dynamic shifts of the #PythNetwork market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
1