Imagine watching a coin bleed 45% in a single four-hour candle — that’s the story $PYR just told, and it might not be finished yet.
Price sits near 0.021 after a brutal collapse from 0.049, and the 4-hour chart is still whispering lower. The RSI on that timeframe is essentially flatlined at 12, which sounds oversold, but in a freefall, oversold can stay oversold longer than feels comfortable. The bearish gap left behind between roughly 0.044 and 0.048 remains unfilled — and until price reclaims that zone, the path of least resistance still points down.
The key area I’m watching on $PYR is the 0.022 zone. That’s the line in the sand for this read. A 4-hour close back above it and the immediate downside pressure weakens. Below it, the objective sits around the 0.019 area — a level already tested once during the crash. Losing that floor opens the door to the low 0.01s, which the weekly structure doesn’t rule out given how far price has fallen from its former volume pocket near 0.27.
My read: this is a falling knife with no real bounce structure yet. The only real risk to the bearish view is a sharp reclaim of 0.022, which would signal a short-term exhaustion bounce.
Follow for the daily read — I’ll revisit this chart as $PYR approaches those levels. What support are you watching most closely right now? 👇
⚠️ Not financial advice. DYOR.
#PYR #VulcanForged #Crypto #BinanceSquare
Price sits near 0.021 after a brutal collapse from 0.049, and the 4-hour chart is still whispering lower. The RSI on that timeframe is essentially flatlined at 12, which sounds oversold, but in a freefall, oversold can stay oversold longer than feels comfortable. The bearish gap left behind between roughly 0.044 and 0.048 remains unfilled — and until price reclaims that zone, the path of least resistance still points down.
The key area I’m watching on $PYR is the 0.022 zone. That’s the line in the sand for this read. A 4-hour close back above it and the immediate downside pressure weakens. Below it, the objective sits around the 0.019 area — a level already tested once during the crash. Losing that floor opens the door to the low 0.01s, which the weekly structure doesn’t rule out given how far price has fallen from its former volume pocket near 0.27.
My read: this is a falling knife with no real bounce structure yet. The only real risk to the bearish view is a sharp reclaim of 0.022, which would signal a short-term exhaustion bounce.
Follow for the daily read — I’ll revisit this chart as $PYR approaches those levels. What support are you watching most closely right now? 👇
⚠️ Not financial advice. DYOR.
#PYR #VulcanForged #Crypto #BinanceSquare
