📌 Analysis Summary:
PYR/USDT is currently at a critical juncture after enduring a prolonged downtrend since December 2024. However, early signs of a major trend reversal are emerging as selling pressure weakens and a bullish pattern begins to form.
The price action has shaped a classic Falling Wedge — a well-known bullish reversal pattern. The declining volume, narrowing price action, and strong support zone indicate that a breakout may be imminent.
📊 Pattern: Falling Wedge (Bullish Reversal)
Descending Trendline: Consistent lower highs since December 2024 now being tested.
Volume Contraction: Typical of the final phase of accumulation before a breakout.
Solid Support Base: Formed at the $0.78–$0.83 area, with multiple bounces.
This pattern suggests that although the price has been declining, bearish momentum is fading, paving the way for a potential sharp move upward.
🚀 Bullish Scenario (Upside Reversal):
If PYR can break above the descending trendline and close above $0.95 with strong volume, it would confirm the breakout and open the path toward these key resistance levels:
1. $1.045 – Initial breakout target.
2. $1.10 – Psychological resistance.
3. $1.181 – Former support turned resistance.
4. $1.300 – Consolidation zone from earlier.
5. $1.382 – Fibonacci-based extension.
6. $2.148 – Mid-term target and key historical resistance.
7. $2.592 – $3.458 – Long-term target if the bullish trend fully unfolds.
📍 A daily candle close above $1.10 with strong volume would be a solid confirmation of trend reversal.
🔻 Bearish Scenario (Failed Reversal):
If the price fails to break above the trendline and faces rejection:
A retest of the $0.83–$0.78 support zone is likely.
A breakdown below $0.78 may lead to deeper lows (not visible on this chart).
Bearish momentum would strengthen further if BTC or the broader market sentiment turns negative.
📍 Bearish confirmation would occur on a strong breakdown below $0.78 with increasing sell volume.
🎯 Strategy & Key Insights:
Watch for a clean breakout with volume above the descending trendline.
Ideal setup for breakout traders or mid-term swing traders.
Excellent risk/reward ratio near the bottom of a long downtrend.
📈 Summary of Potential Upside Targets:
Target Type Price Level
Initial Breakout $1.045
Breakout Confirmation $1.10
Extension Target $1.181 - $1.382
Mid-Term Target $2.148
Long-Term Potential $2.592 – $3.458
🔥 Final Thoughts:
PYR/USDT is sitting at the edge of a breakout from a long-term downtrend, and if this Falling Wedge pattern plays out, it could mark the beginning of a powerful bullish phase. The upside potential is massive, with targets over 100% above the current level. However, caution is still needed — a rejection at the trendline could invalidate the bullish thesis. Watch this chart closely!
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✅ Twitter: twitter.com/crypto_nuclear
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.