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$PYTH USDT (1h) - Double Top Rejection at Key Local Highs
Bias: Short
Entry (Zone): 0.04080 – 0.04130
Targets:
TP1: 0.03980
TP2: 0.03900
TP3: 0.03823
Stop Loss: 0.04195
Why this Setup:
I’m leaning short because Pyth Network (PYTH) is displaying a clear double top rejection pattern near its local range boundary on the 1-hour chart. The asset aggressively rallied to tap an intraday high of 0.04142 earlier, faced quick distribution, and has just returned to retest that exact ceiling. This second attempt has immediately stalled out, printing prominent upper wicks on the recent hourly candles, which indicates that institutional sellers are heavily defending this key level. With buying volume tapering off on this secondary retest, the market structure favors a bearish rotation down to liquidate the intermediate higher-low supports and retest the major macro floor at 0.03823.
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