According to crypto analyst Rekt Capital, blockchain gaming altcoin Vulcan Forged (PYR) continues positioning itself for additional price gains after successfully defending a key support level.
In recent tweets, Rekt Capital highlighted the $6.72 price level as an important area to hold for PYR from a charting perspective. PYR recently managed to close the weekly candle above this level after briefly dipping below it last week.
Rekt Capital notes that successfully retesting and holding the $6.72 support now puts Vulcan Forged in a good position to “continue following the green path” of further upside. With PYR establishing this higher low, bulls remain in control of the market structure. PYR is down by 9.44% in the last 24 hours according to CoinMarketCap data.
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In summary, Rekt Capital’s analysis illustrates how PYR has done the groundwork from a chart perspective to justify additional medium-term gains if market conditions cooperate. PYR remains a high-quality altcoin project likely to attract renewed investor interest on continued blockchain gaming adoption.
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