PYR Eyes Higher As Price Bounces Off Major Support
PYR has risen over 400% in a short 30 days
Price has been respecting an ascending channel
Short term falling wedge has been spotted
Vulcan Forged (PYR) has printed a strong return for only being traded for about a month. Price has been consolidating, awaiting the next bullish push. PYR is part of the Dapp and NFT market and is a great solution for the hot topic. Alt season is in full stride and PYR shows much more potential ahead.
There is an evident ascending price channel found that PYR has been respecting for 3 weeks. This price has just reached the bottom trend of this channel. While consolidating to the bottom, PYR managed to form a falling wedge. This is a bullish pattern and the breakout looks to be very soon. PYR must hold 0.00148 to continue a bullish uptrend.
The price is held up by the 200MA. If price can no longer hold this mark, PYR may be in danger of a -15% fall. At the time of writing price looks ready for a breakout to major resistance of 0.00175.
If this mark can hold, PYR is in position to hit last major resistance of 0.002 before ATH.
While looking at the RSI, we can see the strength managed to break over a trend line it has been stuck under for over a week. To confirm a bullish upswing, the RSI must break over the 50 mark. The Stochastic RSI tells a similar story as its on its way to overbought territory, which is where large bullish moves occur.
PYR intraday levels
Spot rate: 0.0015276
Trend: Bearish
Volatility: High
Support: 0.001484
Resistance: 0.001759
