Six days of lower highs took $PYTH from $0.0825 down to $0.067 — then Sunday night printed the candle that changed the shape.
I've watched this bounce since Sunday night. That late candle ran $0.0712 to $0.0757 on 14 million tokens, nearly double the recent average, and today's push tagged $0.0765, closing near $0.076, up 6.4% in 24 hours.
No single headline explains the move, so I'm reading tape, not a story: sellers exhausted after a week-long slide, buyers testing the first ceiling.
What stops me from trusting it: this is a bounce inside a downtrend, not a reversal, and today's push ran on lighter volume than Sunday's breakout candle. A bounce that stalls at its first ceiling after a week-long slide usually hands the move straight back.
Support is $0.0712, the breakout base. Resistance is $0.0765, today's high, with $0.0783 the next shelf above it. A 4-hour close under $0.0712 kills the bounce read, and $0.067 is back in play.
Save $0.0712 and $0.0765 — which one gives way first?
Not financial advice. Do your own research.
$PYTH #Altcoins #Pyth #Oracles #Reversal #CryptoMarkets
I've watched this bounce since Sunday night. That late candle ran $0.0712 to $0.0757 on 14 million tokens, nearly double the recent average, and today's push tagged $0.0765, closing near $0.076, up 6.4% in 24 hours.
No single headline explains the move, so I'm reading tape, not a story: sellers exhausted after a week-long slide, buyers testing the first ceiling.
What stops me from trusting it: this is a bounce inside a downtrend, not a reversal, and today's push ran on lighter volume than Sunday's breakout candle. A bounce that stalls at its first ceiling after a week-long slide usually hands the move straight back.
Support is $0.0712, the breakout base. Resistance is $0.0765, today's high, with $0.0783 the next shelf above it. A 4-hour close under $0.0712 kills the bounce read, and $0.067 is back in play.
Save $0.0712 and $0.0765 — which one gives way first?
Not financial advice. Do your own research.
$PYTH #Altcoins #Pyth #Oracles #Reversal #CryptoMarkets
