The cryptocurrency Vulcan Forged PYR (PYR) has seen a significant price surge over the past week. The coin is up over 50% in the last 7 days and jumped over 20% just today. At the time of writing, PYR is trading around the $4.2 level after hitting a local high of $4.60.
The reasons for the sudden and sharp uptick remain uncertain, however there have been some recent announcements from the blockchain gaming project Vulcan Forged that seem to be fueling hype and speculation around PYR.
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On October 24th, the Vulcan Forged Twitter account posted about an upcoming NFT farm launch where users can stake PYR and another ecosystem token MV to earn exclusive NFT rewards.
Additionally, Vulcan Forged teased two major mystery additions scheduled for integration into the platform on October 26th (today). Though details remain vague, these impending announcements likely contributed to the wave of buying pressure behind PYR over the past few days as traders anticipate positive news.
Popular crypto analysts have also taken note of PYR’s significant price action lately. @GEMDetecter called his previous buy signal at $2.8 and sees PYR reaching $5 soon now that it has broken out.
Meanwhile, @CryptoTony thinks PYR could be ready to ‘pump hard’.
PYR could break out from its long 500+ day trading range based on its extended consolidation pattern. Our upside targets are $10, $15, and $18 if $PYR can confirm a technical breakout.
The recent hype and speculation around the Pyr project stemming from the teasers of ecosystem upgrades seems to be fueling the 50%+ price rally over the past week. Traders will be closely monitoring for new developments from Vulcan Forged to see if PYR can sustain this bullish momentum in the short-term.
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