Pyth Network — Chart Analysis + Trade Setups 🔥
Ready for a deep dive into Pyth? Here's a comprehensive analysis and trade setup. Let's dive in!
▸ Chart Analysis
Like many other tokens PYTH has also formed a proper bottom between 0.24-0.26. On top of that, the price has been consolidating since June. At the upper side, 0.38 reflects the main resistance. A break above this level (+ confirmation) could trigger a bullish uptrend.
▸ About + Tokenomics
Some key facts about the token:
Token Name: Pyth Network
Symbol: $PYTH
CoinMarketCap Rank: 59
Market Cap: 1.2B
Volume 24h: 66M
Total Supply: 10B
Circulating Supply: 3.6B
▸ Technical Indicators
- MACD: Bullish 🟢
- RSI: Neutral 🟢
- VMA: Bearish 🔴
- Triple EMA: Price trades above EMAs 🟢
- ADX: 15, indicating no trend 🔴
▸ Trade Setup
Based on the chart, a trade setup is pretty straight-forward.
- Entry: Wait for the price to move above 0.38 and confirm on the daily chart.
- Target 1: $0.47 (24%)
- Target 2: $0.56 (~45%)
- Stop Loss: ~$0.36
