Important Data

  • Current Price: $0.4690

  • 24h change: +2.44% (slight increase).

  • Trading volume: $178.51 million.

PYTH is hovering near the $0.4815 resistance with positive signals from both price action and trading volume. But is it time to act?

Notable Signals

  1. Technical Analysis (TA):

    • RSI: Neutral at 50, no signs of oversold or overbought.

    • MACD: Bullish crossover signal, indicating short-term bullish momentum.

    • Bollinger Bands: Price is approaching the upper band, breakout is possible if volume continues to increase.

  2. Cash Flow (BTC.D):

    • BTC Dominance increases slightly, limiting cash flow into altcoins, including PYTH.

  3. Volumetric Analysis (VSA):

    • Volume increases sharply as price maintains upward momentum – accumulation signal.

  4. Price Action (PA):

    • Strong bullish candle in the recent 4-hour time frame, confirming strong buying power.

Analysis Results

The composite signal system shows that PYTH is in the accumulation phase with a slight uptrend. Total signal score: +0.17 – positive but not strong enough to trigger a BUY signal.

  1. Watch resistance $0.4815:
    If the price breaks this level with high volume, the BUY signal will be clearer.

  2. Keep HOLD status:
    As the price remains above the $0.4474 support zone, PYTH remains in a positive trend.

  3. BTC Dominance (BTC.D) Observation:
    If BTC.D falls, the possibility of money flowing into altcoins like PYTH will increase, supporting the price to bounce.

Reasons to Pay Attention to PYTH

PYTH is a promising on-chain data infrastructure project that supports decentralized transactions. With increasing trading volume and active buying, this could be a good time to observe and prepare for an entry opportunity when the breakout signal is clearer.

Bottom Line: Keep PYTH on your watchlist and be ready to act if price breaks above $0.4815 resistance. 🚀