The post Arbitrum (ARB), Pyth (PYTH) Price Surge! Another 20% This Month? appeared first on Coinpedia Fintech News
The cryptocurrency market has recorded a jump of 1.78% over the past day with a trading volume of $71.2 billion (+16.64%). However, top tokens repeatedly fail to break out of their crucial resistance levels. Suggesting a strong bearish sentiment at the upper levels.
On the other hand, mid-cap altcoins have gained significant attention in the crypto space, with many displaying a massive price surge. With the current market sentiment, is this the right time to stack altcoins for the upcoming AltSeason rally?
In this article, we have uncovered the market sentiments, price analysis, and possible short-lived price targets for the Arbitrum (ARB) and Pyth (PYTH) cryptocurrencies.
Arbitrum (ARB) Price Action
With a jump of 5.82% within the past 24 hours, the ARB price has successfully held its value above the $0.55 level. Further, it has added approximately 1% over the past week. With a market capitalization of $1.978 billion, this altcoin has secured the 41st position.
The RSI indicator has displayed a bullish rise after successfully testing its average trendline in the 1D time frame. Further, the SMA shows a positive crossover, suggesting that the ARB price will continue gaining value in the coming time.
If the bulls continue to gain momentum, the Arbitrum price will prepare to test its resistance level of $0.7228 in the coming time. Conversely, a bearish reversal could pull the price toward its new yearly low.
Pyth (PYTH) Price Action
The Pyth price has added 6.86% in valuation in the past 24 hours with a trading volume of $27.787 Million. Further, it has added 5.89% since the past week. Furthermore, with a circulating supply of 3,624,988,822 PYTH, it has secured the 61st position with a market cap of $1.099 billion.
The MACD indicator continues displaying a constant flatline in its price chart, suggesting a neutral price action. However, the Simple Moving Average (SMA) shows a bullish convergence. This suggests a high possibility of a positive price action during the upcoming week.
Suppose, the market experiences a strong bullish action, in that case, the Pyth price will regain momentum and test its high of $0.3990 this month. However, if the bears dominate the crypto market, the Pyth price will retest its crucial support level of $0.2460.
