- A cryptocurrency analyst believes now could be the perfect time to stock up on PYR.
- PYR’s price surged by more than 22% in the past 24 hours, which left it trading hands at $5.49.
- Technicals on PYR’s daily chart suggest that the altcoin’s price climb may continue in the next few days.
The cryptocurrency analyst and trader, Crypto Tony, shared in an X post that the next few months will be the perfect time to start stocking up on altcoins before the next bull market. Vulcan Forged PYR (PYR) is one altcoin in particular that has caught the attention of the analyst.
Just yesterday, Crypto Tony stated that traders should consider a long entry if PYR’s price closes above the $4.70 level. He did, however, note that traders will need to make sure the price of the gaming token stays above this level.
In a separate post shared today, the analyst pointed out that PYR’s price has, in fact, jumped above the $4.70 supply zone mentioned in his earlier post. At press time, data from the market tracking platform, CoinMarketCap, indicated that PYR was trading hands at $5.49.
This came after the token’s price surged by more than 22% in just the past 24 hours of trading. Additionally, PYR’s price was in the green by about 31.25% on its weekly time frame as well.
Along with the jump in its price. PYR’s 24-hour trading volume increased by 152% since yesterday, which brought the token’s volume up to $62,525,007. PYR was ranked 177 by market capitalization after its market cap rose to $148,469,492.
Indicators on PYR’s daily chart suggested that the altcoin’s price may continue to rise in the next few days. Over the past 48 hours, the daily Relative Strength Index (RSI) line crossed above the daily RSI Simple Moving Average (SMA) line, which signaled that buyers have gained the upper hand against sellers on PYR’s daily chart.
Meanwhile, the daily Moving Average Convergence Divergence (MACD) indicator was also flagging bullish at press time. The MACD line, which was breaking away above the MACD Signal line, also suggested that PYR’s positive trend may continue in the short term.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
