Bullish on $PYTH 1. we have immediate rebalance confirmed with an OB+
2. we have an IFVG in H1 behaving as 'support'
3. We have draw as the buyside liquidity
PYTHUSDT 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.*
Pyth/USDT BINANCE:PYTHUSDT.P
This idea has a medium-term profit target.
All targets are indicated on the graph with a red eye.
- Risk 0.5% on deposit
- R/R 1/2
P.S (This is not an investment recommendation, this is my personal opinion.
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 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 $0.3140.
Technicals Favor Bulls
Technical indicators on PYTH’s daily chart suggest the altcoin’s price may continue climbing in the next 48 hours. The Relative Strength Index (RSI) indicator shows that buyers are currently stronger than sellers. This is evident by the RSI line, which is positioned above the Simple Moving Average (SMA) line. In addition to this, the Moving Average Convergence Divergence (MACD) indicator is signaling that PYTH’s positive trend is growing stronger. The MACD line breaking away above the MACD Signal line suggests this.
PYTH - Leading up after a T.line break!PYTH is doing a great job, rising up and breaking the 0.4$ price level. If that level is broken then could lead the price towards 0.5$ and with a projected target of 0.8$ level.
the trend is a must in this case and volumes bars must to rise when price rise. Thus lets see.
Good trading!
Does PYTH has more room for pump?Pyth holding the Daily FVG will take PYTH up at $0.54032 level.
●Losing the Daily FVG (1 Feb) will take Pyth down towards $0.35
PYTH big pump = equivelent dip = good buying opportunityI have 3 POI's on PYTH, will either wait for retest of them or DCA into it. All the love, all the power.
$PYTH Spot IdeaI was waiting a breaking of 0.3 $ and it is finally here.
So, I bought some PYTH here, also had another buy order that price label shows. I think possible Bottom area is 0.27-0.29 at all. Maybe it never steps there.
Also had a long position. My SP is 0.2699 on there.
Pyth network DOL reached now what?As shared in previous analysis..
●PYTH was at Daily FVG when it was shared.
●DOL was $0.52280.
●Pyth made high at $0.6.
●Now let's wait for next opportunity.
forecast: Down, strong bouncesinitial position under water -9.14%
why? ta notes: upthrust pattern, buy on support (green Dashed-line)
point of failure: clean break to the downside. not up
hedge? short from here to test long stops
- scale orders vs continuation pattern following a clean break of short term structure
wtf?
PYTH BREAKOUTPYTH BREAKOUT
narrative - one airdrop rumour away for pyth stakers to breakout
Ascending Triangle
Woo Jinny Gann Levels/Gann StarHello Dear Traders,
Analysis for Pyth Using Jinny Gann
On Chart The Most Important Levels "Horizontal Lines" Works as Support/Resistance .
Gann Star For Possible uptrend
Vertical Lines marks Important Dates/Reversals..
PYTHUSDT.P Short PYTHUSDT.P appears to be in the process of creating a rising wedge pattern, and there are indications of a false breakout, suggesting a potential downward movement in the near future.
PYTHUSDT will going down due to break of structureThe price of PYTH against USDT is expected to decrease because of a structural breakdown.
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
Pyth going to pump ?Holding this Daily Fvg will be bullish for Pyth.
●(20 Jan ) Daily Fvg should act as support..no daily candle closing below thus Daily FVG is Bullish for Pyth.
●Next Bullish target is $0.52280
PYTH Waiting to enter long0.31-0.33 looks a good zone to enter long on PYTH. This support zone looks pretty strong, and i expect a retrace from current level till this zone. I will wait for the correction before entering, invalidation is a clean break of this zone
Pyth Network/Teter.... analyst Pyth Network,,, It can go up to the indicated fibo points, it has also hit the flag pattern and is going up as high as the flagpole, the trend line is also broken, everything is ready for further growth.
PythUsdt.{ Breakout Done}Well the buying momentum so good. Even with the correction of btc, the price not dump too much ..perfect on my the my demand zone.
Im still believe this coin will reach my target.
Congratulations the holder!
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.
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.
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This is not financial advice. This is for educational purposes only.
