PYRUSDT is retracing into previous range high/resistance and 0.386 fib level where price penetrated the highs with big volume indicating a change in market structure and a new bullish trend.
Also long term RSI trend is testing the trendline and 50% level area as support.
Invalidation of this idea is the yellow arrow scenario where price closes back inside the multi year range and gets rejected from the range high while also RSI trend failing to maintain its structure and tests as resistance.
Potential targets for this trade is the 0.7-0.786 fib levels in the mid term.
Also long term RSI trend is testing the trendline and 50% level area as support.
Invalidation of this idea is the yellow arrow scenario where price closes back inside the multi year range and gets rejected from the range high while also RSI trend failing to maintain its structure and tests as resistance.
Potential targets for this trade is the 0.7-0.786 fib levels in the mid term.