Vulcan Forged (PYR) Sees Growing Bullish Traction

Price action in the Vulcan Forged market has shown notable improvement recently. As of the time of writing, the token has recorded a 4.65% price increase, making it the second-best performing coin of the day. Let’s take a closer look at the market dynamics below.

PYR Statistics

Current Price: $1.016

Market Capitalization: $45.94M

Circulating Supply: 43.4M

Total Supply: 50M

CoinMarketCap Rank: 592

Key Price Levels

Resistance: $1.050, $1.100, $1.150

Support: $1.000, $0.900, $0.800

PYR Proceeds North

The Vulcan Forged token rebounded off the lower band of the Bollinger Bands (BB) indicator three sessions ago. Since then, price activity has continued trending upward. However, the most recent price candle shows a slight downward contraction after testing the middle band of the BB indicator.

Despite this minor pullback, the market still holds considerable gains compared to previous sessions. Additionally, the Stochastic Relative Strength Index (SRSI) indicator line continues to rise impressively from the oversold region, reinforcing the view that the market retains strong bullish momentum.

Vulcan Forged Faces Headwinds on the 4-Hour Chart

Volatility in the PYR market is increasingly evident on lower timeframes, such as the 4-hour chart. Here, price action has pushed above the upper boundary of the BB indicator. The most recent candle has formed above this upper limit, followed by a sharp downward contraction in the ongoing session.

Meanwhile, the SRSI indicator lines are moving sideways around the 100 level, indicating the market is in an overbought condition. Given this, a short-term pullback may occur before price action resumes its upward path toward the $1.100 resistance level.

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