$PYTH USDT (1h) - Structural Breakdown & Bearish Extension


Bias: Short
Entry (Zone): 0.04320 – 0.04380
Targets:
TP1: 0.04250
TP2: 0.04200
TP3: 0.04120
Stop Loss: 0.04430
Why this Setup:
I’m leaning short due to a stark acceleration in downward momentum on the 1-hour chart. Following a high-volume capitulation flush that shattered previous mid-range support levels and tagged a local low at 0.04220, the market's attempt at an intraday bounce was quickly rejected. The asset is now printing consecutive bearish candles, highlighting that sellers are firmly defending the prior support-turned-resistance zone near 0.04360. With minimal buying volume stepping in to absorb the overhead supply, I expect a continuation lower to retest the 0.04220 liquidity level and target deeper structural support.

#GateSquareMayTradingShare
PYTH-2.46%
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