$PYTH USDC BEARISH CONTINUATION SETUP – SELL THE BOUNCE
Market structure remains weak on higher timeframes, with the asset still deeply negative across 30D, 90D, and yearly performance. Recent upside appears to be a relief bounce into resistance rather than a true trend reversal. Price is struggling around the Supertrend zone, which is acting as dynamic resistance, while broader momentum favors sellers.
Technical Confluence: • Supertrend positioned above price, signaling ongoing downside pressure
• Recent move rejected near short-term resistance
• Lower high structure forming on intraday timeframes
• Volume profile shows stronger activity on sell phases than recovery moves
Trade Setup (Short): Entry Zone: 0.0475 – 0.0485
Stop Loss: 0.0508
Targets: TP1: 0.0450
TP2: 0.0428
TP3: 0.0395
A clean rejection from the entry zone increases probability of continuation toward previous demand areas. Breakdown below near support can accelerate momentum toward deeper targets.
Risk Management: Risk only a small portion of capital per trade, trail stop after TP1, and avoid overexposure while the broader trend remains strongly bearish.
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