Hypothesis
With the market soaring again, we are experiencing pretty overheated readings from the market mechanics.PYR is an established gaming ecosystem, otherwise known as Vulcan Forged. Gaming is looking to be the second utility narrative to AI, so I am looking at key players within key narratives that align with solid technical frameworks. This is to provide you with strong alt opportunities as BTC is in price discovery and the alt market catches up. This token is available on most major exchanges, making it accessible to many with an already established community.
Technical analysis
From a technical analysis point of view, we have all the right signs of strong, dense development to keep the momentum to continue to push higher into higher prices. 9.150 is the key LOI in this opportunity. It proved to be significant resistance in the past before the market found the demand to break and begin trading above.
We have now seen a couple of tests as support, validating this price point as demand.'
Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. "One Glance" by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. These are not signals, and they are not financial advice.
Play for traders
Spot play: For the best possible price, allow a retracement into the LOI of 9.150 to stack up some orders. I would be playing this to the March-April sell-off.Leveraged play: I would approach this cautiously and urge spot play because the market's health isn't the best right now. It is pretty overheated if you take a look at the market direction, as we've seen with the most recent flush-out. A lot of our alt plays got ruined. This is the market environment for now, so playing spot makes the most sense.
Play for investors
This is a strong asset and could be a good little play when it comes to adding to your gaming bags for this run. Also, we are still a while away from our key reference point of the March-April sell-off, where you could see some nice returns and reevaluate there.Cryptonary’s take
As you can see, we think differently and outside the box. We are traders; we gather information and hopefully frame profitable ideas.Until the market is in a healthier state, it's best to look for long-term spot plays with potential, and this is what we have here.
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