【$PYTH Signal】Pullback to buy + 1H strong consolidation, waiting for a second surge

After experiencing a 20%+ violent rally, the 1H level has entered a high-level strong consolidation. The current price is sideways around 0.0593, with the 1H EMA20 (0.0559) forming strong support. The 4H level has confirmed a breakout above the previous oscillation zone upper boundary (0.051), indicating a trend reversal to bullish. Although the 1H RSI (71.72) is relatively high, the price refuses to undergo a deep correction, and open interest (OI) remains stable, showing that bulls have not exited. This is a typical strong consolidation, building momentum for the next wave of rally.

🎯Direction: Long $PYTH Long(

🎯Entry/Order: 0.0588 - 0.0592 )Reason: Lower boundary of 1H consolidation zone + support from previous hour's low (

🛑Stop Loss: 0.0575 )Reason: Break below key 1H support level + protective stop (

🚀Target 1: 0.0620 )Reason: Previous high resistance level (

🚀Target 2: 0.0645 )Reason: Extension of the previous wave high on the 4H level (

🛡️Trading Management:

- Position suggestion: Light position )Reason: After a significant rally, volatility increases; control risk (

- Execution strategy: When price reaches 0.0620, reduce position by 50% and move stop loss to entry price 0.0592. Remaining position aims for the second target. If price retraces and breaks below 0.0592, exit all.

Deep logic: Market data shows that although buy-side depth is slightly dominant (depth imbalance 0.61%), there is a large accumulation of sell orders in the 0.0594-0.0595 area, creating short-term pressure. The key is whether the price can stabilize above 0.0590 on the 1H level and absorb the sell pressure in this zone. Negative funding rate (-0.0151%) suggests bears are still active; if the price does not fall, a short squeeze may occur. The volume surge on the 4H long candle sets the tone, and the 1H volume contraction during consolidation is a healthy sign. Waiting for a volume breakout above 0.0595 to confirm the start of a second attack.

Trade here 👇 )
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