PYTH/USDT: Trendline Break with Triple Wave Target
Here's a concise analysis of the PYTH/USDT 4H chart:
Technical Setup:
- Breaking out of descending trendline (yellow)
- Current price: 0.3697 USDT (+9.06%)
- Forming ascending channel (gray lines)
- Key resistance zone: 0.48-0.52 (purple box)
Projected Targets:
1. 0.40
2. 0.45
3. 0.51
Key Levels:
- Support: 0.33 (marked as stop loss)
- Current resistance: 0.37
- Volume confirming breakout (15.77M)
Strategy:
Long above 0.35 with stop loss at 0.32
First target at previous resistance 0.40
Chart shows strong reversal potential with clear target zones marked by the ascending channel and resistance box.
Risk Management Note:
Always use proper position sizing and consider the volatile nature of this asset
* DO YOUR OWN RESEACH * DYOR
Technical Setup:
- Breaking out of descending trendline (yellow)
- Current price: 0.3697 USDT (+9.06%)
- Forming ascending channel (gray lines)
- Key resistance zone: 0.48-0.52 (purple box)
Projected Targets:
1. 0.40
2. 0.45
3. 0.51
Key Levels:
- Support: 0.33 (marked as stop loss)
- Current resistance: 0.37
- Volume confirming breakout (15.77M)
Strategy:
Long above 0.35 with stop loss at 0.32
First target at previous resistance 0.40
Chart shows strong reversal potential with clear target zones marked by the ascending channel and resistance box.
Risk Management Note:
Always use proper position sizing and consider the volatile nature of this asset
* DO YOUR OWN RESEACH * DYOR
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