Is a -57% day the beginning of the end, or the end of the beginning for $PYR?
That single red candle at 20:00 is the story. Price opened near 0.040 and collapsed to 0.019 in one 4-hour window. That’s not normal selling. That’s a structural break.
The 4H chart shows a bearish FVG between 0.044 and 0.048. Price gapped through it with conviction. That gap now acts as a ceiling, not a floor.
RSI on the 4H sits at 12 — deeply oversold. But oversold doesn’t mean reversal. In a downtrend this violent, oversold can stay oversold for days.
The 4H pivot zone sits around 0.0211. If price can’t reclaim that, the next objective is near 0.0192. Lose that, and the chart opens toward 0.0133 — a weekly level suddenly looking reachable.
The invalidation is clear: a 4H close back above the 0.0222 area would tell me the immediate selling pressure is exhausting. Until then, the path of least resistance remains lower.
My read: this is a falling knife. The 0.019–0.021 zone is where it either stabilizes or takes another leg down. I’d rather watch that level than catch it.
Follow me for the updated read when 0.019 gets tested — that’s the level that tells us what comes next.
What’s your honest read on $PYR — dead cat bounce territory or real capitulation? 👇
#PYR #Crypto #Altcoins #BinanceSquare
⚠️ Not financial advice. DYOR.