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PYTH / TetherUS

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PYTHUSDT trade ideas

PYTH one of the best Solana play in next cycleLet's start with the basics. Pyth is prica oracle by analogy with $LINK. One of the most fundamental projects in the ecosystem, whose infrastructure is used by many other Solana dApps From a price perspective, PYTH has already formed a local bottom and we could be looking at adding to the position at this level I look quite positively at this asset as a potential upside to Solana. If the market and Solana are ok, I expect $1+ here. The position is long term, not recommended for all scalping and lower TFs.
Long
by Samura0x
PYTH Surges 5% as It Tries to Re-Enter a Positive Price ChannelOKX:PYTHUSDT dropped below the lower boundary of a medium-term positive price channel in the last 24 hours. However, buyers quickly jumped in to minimize the damage, and are currently attempting to elevate it back within the bullish range. Should PYTH close a 4-hour candle in the range within the next 12 hours, it could soon attempt a challenge at the $0.5180 resistance level. A break above this major threshold could then give the Pyth Network price the foundation needed to rise to the subsequent resistance level at $0.5985 through the course of the following few days. This bullish thesis may be invalidated if PYTH closes 2 consecutive 4-hour candles below the bullish price channel within the next 24 hours. In this alternative scenario, the crypto could be at risk of dropping to the immediate support level at $0.4385 in the short term. Continued sell pressure at this point may then lead to the Pyth Network price dropping to as low as $0.3820. Bulls Could Boost PYTH Above Resistance Technical indicators on PYTH’s 4-hour chart are flagging bullish, which suggests the Pyth Network price may rise in the next 48 hours. The Moving Average Convergence Divergence (MACD) line is closing in on the MACD Signal line. These two lines crossing in the next 24 hours may signal that PYTH has entered into a bullish cycle. In addition to this, the Relative Strength Index (RSI) line is positioned above its Simple Moving Average (SMA) line. Traders may see this as a sign that buyers are currently stronger than sellers. As a result, bulls may drive the Pyth Network price higher in the upcoming days.
Long
by StevenWalgenbach
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. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
6
PYTH Trades in a Bullish Channel, How High Can It Go?OKX:PYTHUSDT continues to trade within a bullish price channel that it managed to recover to back within after surpassing the $0.4385 resistance level. Should this positive momentum continue, the crypto could attempt to flip the resistance level at $0.5180 into support as well. A daily candle close above this barrier could then give the altcoin the foundation needed to rise to $0.5985 in the following few days. This bullish thesis could be invalidated if the Pyth Network price breaks below the lower boundary of the bullish price channel within the next 48 hours. In this alternative scenario, PYTH may retest the aforementioned $0.4385 mark. Continued sell pressure may drag the altcoin down to $0.3820. Losing the support of this level could then expose the Pyth Network price to the risk of falling to $0.3140 in the short term. Technical indicators on PYTH’s daily chart suggest the Pyth Network price could continue climbing in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bullish. The MACD line is breaking away above the MACD Signal line, which could be taken as a sign that PYTH’s bullish trend is growing stronger. This technical flag is supported by the RSI line, which is breaking away above the Simple Moving Average (SMA) line. Traders may see this as a signal that bulls are growing stronger against bears, and may boost the Pyth Network price in the upcoming days.
Long
by StevenWalgenbach
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