The current price $PTB has shown a sharp deviation from the resistance zone of 0.0080, which serves as a key technical level. This level was tested by the market, after which an aggressive reaction from sellers followed. This is confirmed by the formation of a long upper wick and a subsequent strong bearish candle.
Such price behavior indicates profit-taking, as well as hunting for stop-losses located above the resistance level. At the moment, the movement does not look like a reversal of the global trend, but rather as a technical correction.
Key levels $PTB and market structure
Despite the sharp pullback, the market structure of PTB above the base demand zone remains relevant. The price quickly corrected; however, it did not violate key support levels, indicating the absence of panic among market participants.
What is important to consider now:
The deviation occurred from the key resistance level of PTB
The correction looks controlled and technical
The demand zone for PTB is still holding
Volumes do not indicate capitulation
This movement looks more like a market cool-off than the beginning of a downward trend.
Support and resistance of PTB: possible scenarios
Correction scenario
If the price of PTB holds above the previous support zone, the current decline should be viewed as a correction within the upward trend. In this case, the market may form a base for the next growth impulse.
Scenario of deep correction
If support is broken, a deeper correction of PTB is likely to develop, with a retest of lower demand zones before the next phase of movement.
Technical analysis $PTB : conclusions
At this stage, the technical analysis of PTB indicates the need for patience and careful observation of key levels. The market is in a decision-making phase, and the price reaction to support will determine the further direction of movement.
Conclusion:
The trend is not broken yet
The correction does not look panicked
Key levels play a crucial role
The analysis of the cryptocurrency PTB shows that in such conditions, a wait-and-see strategy is often more effective than impulsive actions.
