Vulcan Forged (PYR) has shown notable price action, particularly with its extended range-bound movement over the past two and a half years as highlighted by Daan Crypto, an analyst. Trading at around $2.57 at press time, PYR has recently swept its lows. This could suggest a significant deviation below the range, potentially setting up for a return to the upper boundaries. While GameFi might not dominate the current market, it is poised for a resurgence, positioning $PYR well for future gains.
The chart analysis for PYR/USDT on a three-day timeframe highlights the asset’s price behavior within a defined range. The upper boundary of this range stands at $5.265, a critical resistance level where the price has struggled to break above.
A breakout beyond this point might indicate a strong upward trend. On the downside, the lower boundary is marked at $2.400. This level has acted as robust support, with recent price action showing a bounce from below this threshold. Should $PYR fall below $2.400, the next significant support lies around $2.000.
The near-term resistance is set at $2.900, which has posed a challenge for the price in the short run. However, a sustained move above this level could signal a potential rally towards the range high of $5.265. Conversely, if the support at $2.400 fails to hold, expect a possible decline to the $2.000 level. The recent 24-hour trading volume for PYR stands at $4,723,656, reflecting a 3.98% increase. This uptick suggests some positive short-term momentum.
Bitcoin Surges Past $57K, Leading Crypto Market RallyFurther analysis by Daan Crypto states that Mantra DAO (OM) has maintained a bullish market structure despite recent market turbulence. At the time of writing, OM is priced at $0.971259, demonstrating resilience, particularly around the pivotal $0.95 level.
Analyzing the OM/USDT chart on a daily timeframe reveals that the price is oscillating within a specific range. Key resistance is found at $1.0508, a level that has previously seen significant selling pressure.
Support levels are crucial for OM, with $0.9480 acting as an immediate support. The price recently bounced from this level, but failure to maintain this support could lead to further declines. Lower support zones include $0.7433, aligning with the 0.5 Fibonacci retracement level, and $0.5387, representing the 1 Fibonacci retracement level. A breach of $0.9480 could push the price towards these lower support levels.
