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PYTH / TetherUS PERPETUAL CONTRACT

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PYTHUSDT.P trade ideas

Pyth Network (PYTH) vs. Chainlink (LINK) -A DeFi Oracle ShowdownOverview: Overview: Pyth Network (PYTH), a Solana-based high-frequency oracle, enters the DeFi arena, challenging the established player, Chainlink (LINK). As both projects provide crucial data feeds, let's examine their growth trajectories and delve into a trade setup for PYTH. Pyth Network (PYTH) Highlights: 1. *Real-Time Precision:* PYTH leverages Solana's capabilities for real-time computer analytics, redefining the standards for accuracy and speed in data provision. 2. *Thriving Ecosystem:* Beyond its role as an oracle, PYTH fosters a self-sustaining community and governance model, distinguishing itself in the rapidly evolving DeFi landscape. 3. *Crucial DeFi Role:* PYTH plays a vital role in aggregating diverse data points, ensuring a consensus on accurate asset prices, thereby contributing to the health of decentralized exchanges and DeFi protocols. Chainlink (LINK) Comparison: 1. *Established Leader:* Chainlink, a pioneer in the oracle space, has established itself as a reliable data provider across various blockchain ecosystems. 2. *Decentralized Oracle Network:* LINK's decentralized oracle network serves as a backbone for numerous DeFi applications, providing tamper-proof and reliable data. 3. *Market Presence:* LINK's market presence and partnerships have contributed to its growth, solidifying its position as a go-to oracle solution. Trade Setup for PYTH (PYTHUSDT): - *Entry Point:* Long position initiated at 0.2488. - *Stop-Loss:* Set below 0.2078 to manage downside risk. - *Target:* Aim for 0.3626 as the initial target, but caution followers to manage risk based on their portfolio size and risk tolerance. Technical Indicators (Daily Time Frame): - *Stoch RSI, RSI, Fischer Transform:* On the daily time frame, Stoch RSI, RSI, and Fischer Transform indicators are currently showing signs of being oversold. This oversold condition on a daily basis may suggest a potential upward price movement, making the current entry point favorable for a long position. Caution to Followers: This trade setup presents a no-risk scenario depending on individual portfolio sizes. Followers are advised to manage risk prudently, adjusting position sizes accordingly. While the comparison with LINK suggests potential growth, the oversold signals from daily indicators enhance the probability of an upward move. However, caution and risk management remain paramount in the volatile crypto market. Conclusion: As PYTH challenges LINK in the DeFi oracle space, the trade setup, coupled with oversold signals from key technical indicators on the daily time frame, offers an opportunity for potential gains. Followers are encouraged to stay vigilant, adapting their strategies as market conditions evolve. *Note: This analysis is based on current market conditions and should be adjusted as per evolving market dynamics. Followers are encouraged to conduct their own research before making any trading decisions.*
Long
by sir-rekt-alot
2
PYTH Drops 3% but Recovers to Back Within a Positive ChannelThe Pyth Network price managed to break above the consolidation zone between $0.3820 and $0.4385 that it was trapped in over the past week. As a result, PYTH has subsequently also recovered to back within a medium-term positive price channel that has emerged on its charts. It attempted to rise above the channel during yesterday’s trading session. Although it managed to rise above the channel’s upper boundary, it retraced to close the trading session back within the channel. Despite this correction, buyers still seem to be trying to boost the crypto’s value. This is evident by the wick under today’s daily candle. Should this bullish momentum continue, the Pyth Network price could soon flip the $0.5180 resistance level into support. This could then give the crypto the foundation needed to rise to the subsequent barrier at $0.5985 in the short term. This bullish thesis may be invalidated if the crypto breaks below the $0.4385 support level within the next 72 hours. In this alternative scenario, PYTH may retest the $0.3820 mark. Continued sell pressure at this point may then expose it to the risk of falling down to $0.3140. Technicals Favor Bulls Technical indicators on PYTH’s daily chart suggest the altcoin’s price may continue climbing in the next 48 hours. The Relative Strength Index (RSI) indicator shows that buyers are currently stronger than sellers. This is evident by the RSI line, which is positioned above the Simple Moving Average (SMA) line. In addition to this, the Moving Average Convergence Divergence (MACD) indicator is signaling that PYTH’s positive trend is growing stronger. The MACD line breaking away above the MACD Signal line suggests this.
Long
by StevenWalgenbach
PYTH LOOKS BEARISHIt has had a lot of liquidity pools in the upper range that has swept everyone away. After hitting the main supply and then the mitigated supply, it seems ready to drop. I specified the targets on the chart. I also specified the invalidation level. Closing a 4-hour candle above this level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
Short
by behdark
3
PYTH "Riding the Wave: A Strong Buy Signal Emerges!"**Short Fundamental Analysis of PYTH Coin** Pyth Network is a decentralized oracle network that provides real-time and reliable price feeds to smart contracts on various blockchains. It utilizes a unique approach to data aggregation, leveraging the feeds of reputable financial institutions and market makers. This ensures the accuracy and trustworthiness of the data provided to smart contracts, enabling the development of sophisticated financial applications. **Key Highlights of Pyth Network:** * **Real-time and high-frequency price feeds:** Pyth delivers real-time price updates at a frequency of up to 100ms, ensuring that smart contracts have access to the most up-to-date market information. * **Reliable and trustworthy data:** Pyth's data aggregation process involves contributions from over 95 financial institutions and market makers, ensuring the quality and accuracy of the data provided. * **Wide range of supported blockchains:** Pyth delivers price feeds to over 45 different blockchains, including Ethereum, Solana, Polygon, and Avalanche, enabling the development of cross-chain applications. **Recent News** * **Pyth Network Integrates with Chainlink:** In November 2023, Pyth Network announced an integration with Chainlink, a leading oracle network. This partnership will enable Pyth to provide its real-time price feeds to Chainlink users, expanding the reach and accessibility of its data. * **Pyth Network Expands into Decentralized Exchanges (DEXs):** Pyth is actively expanding its reach into decentralized exchanges (DEXs), providing price feeds for various crypto assets. This integration will enhance the functionality and efficiency of DEXs, enabling them to offer more reliable and accurate pricing. * **Pyth Network Partners with dYdX:** In December 2023, Pyth Network established a partnership with dYdX, a leading decentralized derivatives exchange. This collaboration will bring Pyth's real-time price feeds to dYdX, improving the trading experience and enabling the development of more sophisticated derivatives products. **Disclaimer** Please note that the information provided is not financial advice and should not be construed as such. The cryptocurrency market is highly volatile and risky, and past performance is not necessarily indicative of future results. Always conduct your own research and due diligence before making any investment decisions.
Long
by MoonTradingForecast
1
PYTH AIMS 25% HigherPYTH has been on a decent climb after a massive sell-off. It managed to reclaim the VAL after the retest of the trendline breakout. all bullish signs and with bitcoin providing a nice bullish pump into the weekend, it'll provide a bullish narrative to fuel the altcoins this weekend. The levels are marked on the chart where I expect PYTH to have a retracement, until then, a long aiming for the VAH seems like the higher probability trade. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility