$PYTH is over accumulation, next is pumping and the distributionCollaboration of large investment funds with market maker Wintermute has always shown excellent growth of the asset. Pyth will be no exception. Accumulation is complete, everything is ready for pumping. The community issue is in the hands of the market maker!
Horban Brothers!
Pythnetwork
PYTH Network Looking for Breakout1. Pattern
Symmetrical Triangle: The price is forming a symmetrical triangle, which is characterized by a series of higher lows (ascending trendline) and lower highs (descending trendline). This is typically a neutral pattern, meaning the breakout direction is uncertain, but it often leads to a strong price movement.
2. Breakout Potential
The price is currently approaching the apex of the triangle, which suggests that a breakout is imminent. The chart shows a projection of a bullish breakout, where the price could rise toward the next key resistance level near 0.4800-0.5000 USDT.
3. Support and Resistance
Support: The ascending trendline, which has been holding since the lows of mid-September, currently provides support near 0.3300 USDT.
Resistance: The descending trendline has been acting as resistance and could break around 0.3800 USDT. If this resistance breaks, it could trigger the expected bullish movement.
4. Volume
The volume bar shows increased trading activity, which is often a sign of preparation for a breakout. If the breakout is accompanied by a volume surge, it would add more conviction to the move.
5. Bullish Scenario
Breakout Target: The chart projection suggests that if the price breaks out upwards, it could reach the resistance level at 0.4800-0.5000 USDT. This area could act as a strong resistance where the price might consolidate or reverse.
6. Bearish Scenario
Breakdown: If the price fails to break out to the upside and falls below the ascending trendline (around 0.3300 USDT), the next support could be found near 0.2750 USDT. A breakdown from the triangle could shift the momentum to the downside.
7. Key Levels to Watch
Immediate Resistance: 0.3800 USDT (descending triangle resistance)
Next Resistance: 0.4800-0.5000 USDT (upper resistance zone)
Immediate Support: 0.3300 USDT (ascending triangle support)
Next Support: 0.2750 USDT (previous swing low)
Conclusion
The price of PYTH/USDT is consolidating within a symmetrical triangle and is nearing a breakout point. A bullish breakout could lead to a rally toward the 0.4800-0.5000 USDT resistance level, while a bearish breakdown could target lower levels around 0.2750 USDT. Watch for volume confirmation during the breakout for a stronger signal.
PYTHUSDT 1DPYTH ~ 1D
#PYTH Very confusing
Whether to buy or worry.
we will give a conclusion.
in a bull market all bearish patterns may be easy to validate or fail structurally.
Losing this Support Block will make this bearish Pattern real, or if SEED_DONKEYDAN_MARKET_CAP:PYTH manages to defend this Support Block, We will say this bearish Pattern will fail.
Alikze »» PYTH| Descending channel failure🔍 Technical analysis: Descending channel failure
- It has been moving in a downward channel in the 8H time frame and daily.
- Currently, with the failure of the channel roof, it is around the supply area and neck line.
- Therefore, in case of a negative reaction, it can be broken into the channel with pullback and touch the specified targets by maintaining the 0.29 area.
💎 Alternative scenario: In addition, if it stabilizes below the 0.29 area, it can retest the green box.
🛑 Targets: 0.39 - 0.44 and supply area or red box.
🟩 Support: 0.29
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OKX:PYTHUSDT
PYTH Is Currently At Strong SupportAfter a massive sell-off, PYTH is now testing the trendline after a breakour and trading above the daily level, we might get a push down to the Value Area Low, and if that does happen and price reclaims the daily, this is a good sign to continue higher.
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This is not financial advice. This is for educational purposes only.
Pyth Network PYTH price prepares something interestingThe #PYTH price is probably tamping the bottom after a several-month correction.
🔼 To continue its growth, #PYTHUSDT needs to consolidate above $0.50
⚠️ The critical level from below is $0.44,
Fixing the price of the Pyth Network token below this level will indicate that the correction will continue for some time.
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Pyth Network (PYTH)The Pyth Network is the largest and fastest-growing first-party oracle network. Pyth delivers real-time market data to financial dApps across 40+ blockchains and provides 380+ low-latency price feeds across cryptocurrencies, equities, ETFs, FX pairs, and commodities.
Anyway, Pyth is still young and few candles are availabel. However, it seems Pyth is moving in an ascending channel and recently Pyth broke the minor downtrend line. Let's see what happens.
PYTH/USDT Gaining Momentum For a Bullish Rally | Get Ready 💎#PYTHUSDT has impressively surged out of a descending channel and is now testing a crucial juncture where former resistance has become support. The Point of Control (POC) of the VRVP Channel provides crucial support, enhancing the chances of a bullish continuation.
💎If #PythNetwork can successfully hold this retested support at $0.400, we anticipate a powerful rally propelled by the strong momentum at this level.
💎However, if SEED_DONKEYDAN_MARKET_CAP:PYTH loses its footing and descends into the channel, dipping below the current support, it could signify a shift back to a bearish trend. The next key demand zone is at $0.355, a level renowned for its liquidity and historical bullish rebounds.
💎Should #PYTH revisit this demand zone, it's vital for the price to secure a strong rebound to uphold support. Failure to achieve this could boost bearish forces, worsen market sentiment, and potentially result in further price declines.
💎Keep your strategies adaptive and remain alert, Paradisers. Your ParadiseTeam is vigilantly monitoring the market and ready to guide you through the dynamic shifts of the #PythNetwork market.
MyCryptoParadise
iFeel the success
PYTH taget $1.45 (perp)4h time frame
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TP: $1.4~$1.53
SL: $0.426
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PYTH follows the Elliott 2nd wave with being sold off since $1.15, but got support from the structural support zone and 0.382 Fibonacci projection, both form a robust bottom at $0.5 so far. If PYTH goes the assumed path, I can say next big pump, made of Elliott 3rd wave, is following and will bring PYTH to make ATH soon. It is hard to estimate critical resistance once PYTH goes over $1.15, so we can use Fibonacci tool to set up the target to profit around $1.4~$1.53, which RRR is over 8.
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Refer to link below if you're interested in my perspective of Bull High of PYTH.
PYTH target $134h time frame
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PYTH has sold off rapidly in the early of April, and saw lows of $0.48. From perspective of TA, PYTH is correcting with the 2nd wave of Elliott impulse wave that is great for accumulation of momentum to build the 3rd wave. $0.48 aforementioned is also the corresponding support zone to the price zone built in Feb. In conclusion, $0.48~$0.58 are a good zone to enter, and target is put on $13 once the bull starts.
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Bull target: $18~$20
PYTH/USDT A Bullish Trajectory in Sight?👀🚀PYTH Today Analysis💎 Paradisers, prepare for an attractive trading opportunity with #PYTHUSDT, as it's showing potential for a bullish continuation following a retest of its demand zone.
💎 Examining #PYTHNETWORK past performance, we've observed its consistent movement within a descending channel. Interestingly, it has also formed a cup and handle trajectory. Currently, it has broken above the handle, increasing the likelihood of a bullish move from the retest of the demand level at $0.35044. If the momentum is sustained, our target is set above the major supply zone at $0.55717.
💎 Nonetheless, in the ever-changing world of trading, having an alternate strategy is key. Should our initial analysis not come to fruition, we're ready to pivot to a potential bullish rebound from a lower support level at $0.30686. Keep in mind, however, that breaking below this level could lead to a considerable bearish descent.
PYTH price "is trending", but in which direction?)For a couple of days now, PYTH has been in various "ratings of interesting coins," so let's write a few words about what we see on the chart.
The fact that after +50% growth in early February, each daily candle closes with a shadow on top is not good for buyers. This means that someone is selling PYTHUSDT quite aggressively in the range of $0.48-0.52.
Now, a correction of at least $0.42-0.43 is very much needed.
And then it will be seen:
- whether the hype and pump will continue at least to $0.70
- or the correction will continue to the range of $0.30-0.33 for a safer purchase.
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Preparing for PYTH longMore bullish than ever on PYTH, so non financial advice...
Here I'm waiting with patience for FIB-level 0.618
I think the yellow zone could be a great area to build a position. We could get some help from 20 MA and the trendline to hold the trend.
The big gains come when we break the flag and after that move to price discovery. I don't want to miss that.
I will be picky with the entry here and try to find one with tight stop loss.
$PYTH looks great for a long term spot buyThe Pyth Network is a decentralized oracle protocol that is transforming the way financial market data is accessed and utilized in blockchain environments.
$PYTH is a long term buy for me at 0.27 and below zone. I'm accumulating dips below to $0.27.
Here are some key highlights about the Pyth Network:
Decentralized Oracle for Financial Data: Pyth Network specializes in aggregating and publishing high-quality financial market data on blockchains, making it reliably accessible for on-chain applications. This includes data like stock prices, currency exchange rates, and commodity prices, which are crucial for financial applications.
First-Party Data from Major Institutions: The network brings first-party data from major financial institutions, such as exchanges, market makers, and trading firms, directly to the blockchain. This approach ensures that the data is accurate, low-latency, and high-resolution, providing a trustworthy source for various applications.
Wide Ecosystem Reach: Pyth Network supports over 400 data feeds, which are trusted by more than 250 applications, including decentralized exchanges (DEXs), lending protocols, and derivatives platforms. It's actively integrated across 45+ blockchains, ensuring universal access to its price feeds regardless of the underlying blockchain technology.
Innovative Data Staking and Reward Distribution: Pyth uses mechanisms like data staking and reward distribution to align incentives between different participants, such as publishers, consumers, and delegators. Data staking allows consumers to hedge against inaccurate data, while reward distribution preferentially rewards publishers providing more accurate and predictive price feeds.
Robust Against Attacks and Manipulation: The network is designed to be resilient against various attacks, such as price manipulation and reward exploitation. Its aggregated price feeds use a weighted median algorithm to limit the influence of any individual publisher, protecting the feeds against deliberate manipulation attempts.
Enabling Complex Financial Applications: The Pyth Network’s precision and reliability in delivering real-time market data are vital for DeFi applications, especially in times of market volatility. Its ability to provide high-quality data feeds makes it an essential component for a wide range of financial services on the blockchain.
PYTH Token for Network Coordination: The PYTH token plays a crucial role in coordinating the activities of various network participants through crypto-economic incentives. It aligns the interests of different stakeholders, such as publishers, consumers, and delegators, within the network.
Continuous Innovation and Community Involvement: Pyth is committed to ongoing innovation and community-driven development, aiming to be a core DeFi primitive and to expand into providing new types of data and governance decentralization.
The Pyth Network exemplifies how blockchain technology can democratize access to critical financial data, paving the way towards a more open, transparent, and fair financial system. Its focus on providing accurate and timely data is key to enabling efficient and sophisticated financial applications in the decentralized space.