In the cryptocurrency market, PYTH is facing key resistance and support levels. The current trends create a cautious sentiment among traders.
Technical Analysis of PYTH
PYTH is exhibiting a classic rounded top on the 4-hour chart, trading just below the key resistance at $0.123. This level, formed by the moving averages (50 SMA and 9 EMA), is limiting short-term bullish attempts. The $0.115 mark serves as the support level after several tests, and breaking below it could lead to further price decline.
Support and Resistance Levels
According to current market data, the resistance level for PYTH is in the range of $0.122–$0.123, which has not yet been breached despite a small increase of 0.58% to $0.1218. The support level at $0.115 is also critically important: breaking below it could direct the price toward the $0.108–$0.105 zone.
Global Trends and Expert Opinions
Various analysts provide their forecasts for PYTH. Solberg Invest highlights a bullish trend with a consolidation level that could reach values of $0.48 and $0.93. Finora AI also notes short-term fluctuations, predicting possible drops to $0.1092 or $0.0958 before a potential rise to $0.1311 or $0.1348. Currently, PYTH remains in a compressed zone between resistance and support.
The situation in the PYTH market remains tense with key support and resistance levels. Traders should closely monitor movements and prepare for potential changes in the situation.
