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PYTH / TetherUS PERPETUAL CONTRACT

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PYTHUSDT.P trade ideas

PYTH medium term is bearishBy examining the chart data, we found that PYTH has completed a large degree pattern. This pattern is related to wave A. This pattern has lasted for about 250 days. It is expected that wave B is also a pattern of the same degree as wave A. It means about 200-250 days. The supply range is the best range for sell/short positions. Note that in order to take a position, one must have a trading setup and this is only a medium-term view for PYTH. Closing a daily candle above the invalidation level will violate the analysis For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
Short
by behdark
Alikze »» PYTH| Descending channel failure🔍 Technical analysis: Descending channel failure - It has been moving in a downward channel in the 8H time frame and daily. - Currently, with the failure of the channel roof, it is around the supply area and neck line. - Therefore, in case of a negative reaction, it can be broken into the channel with pullback and touch the specified targets by maintaining the 0.29 area. 💎 Alternative scenario: In addition, if it stabilizes below the 0.29 area, it can retest the green box. 🛑 Targets: 0.39 - 0.44 and supply area or red box. 🟩 Support: 0.29 »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« OKX:PYTHUSDT
Long
by alikze
PYTHUSDT.1DUpon examining the PYTH/USDT daily chart, a comprehensive analysis reveals several technical patterns and indicators that guide my trading decisions. Overview of Current Market Position: The price of PYTH/USDT stands at $0.3482, reflecting a decrease of 1.94% from the previous session. This movement highlights a need for careful assessment of market dynamics and potential directional changes. Trend Analysis: The chart displays a predominantly bearish trend over the recent months, with the price now consolidating around the $0.2303 level, which acts as the immediate support (S1). This consolidation suggests a potential for either continuation of the bearish trend or a possible reversal if bullish signals emerge. Support and Resistance Levels: S1 at $0.2303: A critical support level which the price has recently tested and bounced off from, indicating some buying interest at this level. R1 at $0.4209 and R2 at $0.5094: These levels serve as the primary and secondary resistance levels. Overcoming R1 would be a significant bullish signal, likely leading to increased buying activity towards R2. Technical Indicators: Relative Strength Index (RSI): Positioned at 44.52, the RSI is below the neutral 50 mark, suggesting a slight bearish momentum. However, it's close enough to the midpoint to warrant monitoring for any upward movement that might indicate increasing bullish sentiment. Moving Average Convergence Divergence (MACD): The MACD line is marginally above the signal line, albeit very close, indicating a potential buildup in bullish momentum if the divergence increases. However, the overall near-zero histogram points to a market in balance, with neither bulls nor bears fully in control. Strategic Trading Insights: Considering the current market conditions and technical setup, my strategy would be cautiously optimistic. The recent bounce from S1 suggests a potential for further recovery if the market sentiment improves. I would look for a confirmed breakout above R1 ($0.4209) before considering a more bullish stance. A sustained move above this level could target R2 ($0.5094), particularly if accompanied by increasing trading volume and further bullish signals from RSI and MACD. Conversely, a break below S1 would reaffirm the bearish trend, necessitating a reevaluation of holding positions and possibly considering short positions towards lower price targets. Conclusion: The PYTH/USDT trading pair presents a finely balanced scenario with pivotal points at S1 and R1, which will likely determine the next significant price movement. Traders should remain vigilant, using these technical levels and indicators as key guides in their trading decisions. Adapting strategies in response to clear signals from these indicators and market movements is essential for capitalizing on this volatile trading environment.
by MarsSignals
PYTH/USDT: Holds a potential of 250% growth!Hello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: The PYTH/USDT pair is currently indicating a bearish trend within a descending triangle pattern. A breakout above the descending trendline could signal a bullish reversal with targets at the identified resistance levels. A potential move above the 50 MA and rising RSI for confirmation of a bullish trend. On the other hand, a break below the lower support could indicate further downside risk. Moving Averages: The 50 MA is a crucial resistance level for PYTH. A breakout above this moving average could signal a bullish shift. Relative Strength Index: The RSI is gradually gaining momentum indicating a potential bullish shift. Support and Accumulation range: $0.25 to $0.31. Resistance and Targets: ~ T1: 0.4946 USDT ~ T2: 0.6739 USDT ~ T3: 0.8867 USDT ~ T4: 1.0978 USDT DYOR. NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
Long
by Cryptorphic
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