The Pyth Network (PYTH) token is showing signs of a potential bullish reversal after forming a falling wedge pattern. The Crypto Titan's analysis suggests the possibility of significant price increase and pressure towards resistance levels.
The PYTH Falling Wedge Pattern
The analysis claims that the PYTH token has bottomed out within its structure and is ready for a reversal rally. Despite recent volatility, increasing market momentum may drive PYTH towards higher resistance levels. The falling wedge is a historically bullish pattern, often ending with an upward breakout when buyers regain control. The upper resistance stands between $0.35 and $0.40, while the lower support was recently tested around $0.21.
Key PYTH Price Levels
Investors are closely watching specific price levels. Support lies between $0.21 and $0.22, where buying interest has recently emerged. Should the token face further selling pressure, the next key support zone is between $0.18 and $0.20. On the upside, the first major resistance sits at $0.35-$0.40, which coincides with the wedge breakout zone. Beyond that, a historical resistance level around $0.75 could act as the next target, with the long-term psychological milestone of $1.00 remains the primary target for many traders.
Potential Breakout and Its Impact
If PYTH successfully breaks past $0.40, analysts project an upside potential of approximately 210%, bringing the price close to $1.00. This target aligns with historical market structures and the wedge’s measured move projection. A sustained breakout could confirm the bullish outlook and establish new momentum for PYTH. Market participants are closely monitoring price action as the token approaches key resistance levels.
The current market scenario indicates potential shifts for PYTH, with increased volatility hinting at an upward breakout. Technical analysis supports the likelihood of an upward rise, with investor actions signaling growing optimism regarding the token's future trajectory.
