PYR Token: A Vulcanic Eruption Awaits š Ā
š„$PYR (TA+FA)Ā $PYR/USDTš„
$PYR, the native token of the Vulcan Forged ecosystem, has been on a tear lately, up over 100% in the past month. But is this just a passing fad, or is PYR poised for a volcanic eruption?
Let's take a look at the technical analysis (TA) to see what the charts are saying.
On the daily chart, PYR has recently broken out of a bullish pennant formation. This is a classic TA pattern that signals a continuation of the prevailing trend.
In PYR's case, the trend is up, so the pennant breakout suggests that even higher prices are ahead.
Another bullish sign is that PYR is trading above its key moving averages. The 50-day and 200-day moving averages are both important support levels, and the fact that PYR is trading above them suggests that the bulls are in control.
Fundamental Analysis
Vulcan Forged has grown rapidly in the past two years, with over 200,000 users across 15 games, including VulcanVerse, Forge Arena, and Berserk. It is also developing MetaScapes, a unique metaverse platform, and Tartarus, the first-ever Oculus VR NFT game. Tartarus is a revolutionary new game that represents a significant breakthrough in gaming, the metaverse, and NFTs.
However, the overall trend for $PYR is up, and the TA and FA suggest that the bulls are in control. Vulcan Forge token $PYR has a market cap of $168,454,867 and is ranked at #176.
Here are some key levels to watch for $PYR:
Support: $5.00, $4.50, $4.00
Resistance: $6.50, $7.00, $7.50
If PYR can hold above the $5.00 support level, it is likely to continue its upward momentum. If it breaks below $5.00, it could see a pullback to the $4.50 or $4.00 support levels.
My entries are: $6.20ā$6.30 (Short to Medium)
Targets:
šÆ1st TP: $6.40
šÆ2nd TP: $6.50
šÆ3rd TP: $6.60
šÆ4th TP: $6.70
šÆ5th TP: $6.80
š“Stop loss: $5.90
Hold $PYR for short- to mid-term gains and consider it a long-term buy as well. Do your own research and book profits at every target in these market conditions.