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PYTH/USDT

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PYTHUSDT.PS trade ideas

Pyth Time Is Coming The cryptocurrency pair comprising of the Pyth token and Tether (USDT) is currently exhibiting signs that a new All-Time High (ATH) might be on the horizon. The market trend for this pairing appears to be bullish, with buyers demonstrating increasing interest in the asset. There is a possibility of a substantial bullish movement ranging between 60% to 80% if the resistance level indicated by the trendline is breached. It is important to note that the information provided is for informational purposes only and should not be considered as financial advice.
Long
by Crypto-By-Ghazi
PYTH Surges 31% and Is Now Challenging ResistanceThe Pyth Network price is attempting to break above the $1.1325 resistance level, which is also confluent with the upper boundary of a medium-term positive price channel. This channel formed after PYTH printed a series of higher highs and higher lows over the past couple of weeks. Should the Pyth Network price close a 4-hour candle above the $1.1325 barrier, it may have the foundation needed to keep rising in the following few days. This bullish thesis could be invalidated if the altcoin gets rejected by the major resistance level. In this alternative scenario, the Pyth Network price could drop to the immediate support level at $0.9580, which will be a key level to watch as it is around the same level of the middle boundary of the aforementioned price channel. Falling below this point could then expose PYTH to the risk of dropping to $0.7705. However, before the crypto can reach this point, it will have the lower boundary of the price channel as the last line of defence. Losing this support may lead to the Pyth Network price dropping below $0.770 to potentially fall to as low as $0.6570 in the short term. Technicals Flagging Bullish for the Pyth Network Price The Relative Strength Index (RSI) indicator on the 4-hour chart shows that the crypto is overbought. This is usually seen as a sell signal by traders since the downside potential is greater than the upside potential. However, it is not unusual for the RSI to remain high for a sustained period of time when a crypto is pumping. The Moving Average Convergence Divergence (MACD) indicator shows that the Pyth Network price is in a positive cycle as the MACD line is positioned above the MACD Signal line. In addition to this, the prior is breaking away above the latter, which suggests that the bullish trend is growing stronger. Potential Trade Strategies for the Pyth Network Price Long Position Strategy Entry Conditions: Primary Entry Signal: Wait for the PYTH price to close a 4-hour candle above the $1.1325 resistance level. This indicates a successful breakout and could signify the continuation of the bullish trend. Secondary Entry Signal: Consider a bullish MACD crossover as additional confirmation, where the MACD line extends further above the signal line, particularly after the price breaks above $1.1325. Exit Conditions: Take Profit: Set the initial take profit level near the next significant resistance level after $1.1325. Given the bullish context, a reasonable target could be a psychological level or a previous high. Without specific next levels mentioned, consider setting this around 5-10% above the entry point. Stop Loss: Place a stop loss slightly below the breakout level, around $1.12, to minimize losses if the breakout turns out to be a false signal. Adjust the stop loss to break even once the price moves significantly in favor. Risk Management: Monitor the RSI for signs of continued overbought conditions. If the RSI starts to decline from high levels, consider tightening the stop loss to protect profits. Short Position Strategy Entry Conditions: Primary Entry Signal: Look for a 4-hour candle closure below the immediate support level at $0.9580, particularly if it coincides with the price falling below the middle boundary of the price channel. This could indicate a bearish trend reversal. Secondary Entry Signal: A bearish MACD crossover, where the MACD line crosses below the signal line, would reinforce the bearish entry signal, especially if coupled with an overbought RSI starting to decline. Exit Conditions: Take Profit: Set the initial take profit level at the lower boundary of the price channel or the next key support level at $0.7705. Adjust according to the momentum and the presence of further supports. Stop Loss: Place a stop loss just above the $0.9580 level or the middle boundary of the price channel to limit losses if the price unexpectedly reverses direction and goes back into the channel. Risk Management: - Since the RSI indicates overbought conditions, a short position might initially seem counterintuitive. Monitor the RSI closely for any signs of decreasing momentum or a turn downwards, which could justify the short position further. ### General Tips: - Always use a risk-reward ratio that suits your trading profile. A common ratio is 3:1, meaning you aim to gain three times what you risk losing. - Adjust your position sizes according to the volatility and the strength of the entry signals. - Keep an eye on market news and Pyth Network developments, as fundamental factors can quickly change the technical outlook. - Consider using trailing stops for both strategies to lock in profits as the price moves in your favor. This structured approach to trading based on the technical analysis provided should help in navigating the potential movements of the Pyth Network price. Always remember, no strategy guarantees success, and it's crucial to prepare for all outcomes by managing risks appropriately.
by StevenWalgenbach
Pyth the myth the legend.Pyth 1D chart may exhibit characteristics of a cup and handle pattern. Many may interpret it as 5 wave top. Riding off chain-links recent rise pyth has many reasons to be bullish. The PYTH/USD daily chart shows interesting price action since inception that resembles a cup and handle pattern. While not definitive, some elements we see include a rounded "cup" formation, a downward handle, and a potential breakout. What are your thoughts on this pattern and its potential implications? Remember, this is for educational purposes only, and you should always do your own research before making any investment
Long
by ParabolicP
PYTH Next Move: Grab the Bull by the Horns! 🚀 PYTH Coin: Short Fundamentals, Recent News, and Disclaimer Fundamentals: Limited information available: Just like with SAVM, finding comprehensive details about PYTH can be challenging due to the sheer number of cryptocurrencies. Further research required: Without more specifics on PYTH, it's impossible to determine its purpose, functionality, or underlying technology. Recent News: Unable to locate relevant news: There isn't enough information to identify specific news sources related to PYTH. Disclaimer: Proceed with caution: Given the limited information available, investing in PYTH could be risky. Conduct thorough research: Always perform in-depth research on any cryptocurrency before investing, regardless of its popularity. Look for well-established projects with clear goals and development teams. Additional Notes: Consider established coins: If you're new to cryptocurrency investing, it might be better to start with more prominent coins with a longer track record. Beware of scams: Unfortunately, cryptocurrency attracts scams. Be wary of unsolicited investment opportunities or projects with overly ambitious promises. Recommendations: If you're interested in learning more about PYTH, try searching for it on reputable cryptocurrency websites or forums. Before investing, look for a whitepaper or project roadmap that explains PYTH's purpose and functionality. Consider investing in more established cryptocurrencies with a proven track record if you're new to the market. Disclaimer: This information is for educational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and carry significant risks. Do your own research before making any investment decisions
Long
by MoonTradingForecast
Pyth (PYTH) Poised to Surpass Chainlink (LINK) ATHIn the race for oracle supremacy, Pyth (PYTH) emerges as a formidable challenger to Chainlink (LINK), with the potential to surpass LINK's all-time high (ATH) of $49. Let's crunch the numbers to see why PYTH is set to shine. Firstly, let's consider the supply dynamics. While Chainlink has a fixed maximum supply of 1,000,000,000 LINK tokens, Pyth boasts a total supply of 9,999,989,217 PYTH tokens. This vast difference in total supply can significantly impact price dynamics and market capitalization calculations. At its ATH of $49, Chainlink reached a market capitalization of approximately $49 billion (1,000,000,000 LINK * $49). However, with Pyth's larger total supply, even if it were to achieve the same market capitalization, each PYTH token would only need to reach approximately $4.90 to match LINK's ATH market cap (9,999,989,217 PYTH * $4.90). Considering Pyth's compelling features, including its robust data sources, real-time updates, and proven resilience during market turmoil, it's evident that PYTH has the potential to not only match but surpass Chainlink's ATH valuation. As the demand for high-fidelity financial data in DeFi continues to soar, PYTH's accessibility and accuracy position it as the frontrunner in the oracle race, making $5 seem like just the beginning of its ascent. Disclaimer: This analysis provides informational insights based on publicly available data. It does not constitute financial advice. Traders should conduct their own research, assess risk tolerance, and seek guidance from financial professionals before making any investment decisions.
Long
by sir-rekt-alot
PYTH - new ATH, can this coin 20x in 2024?Technical analysis PYTH looks absolutely strong! This coin is listed on all major exchanges and is pretty easy to buy. Why do I think this coin is bullish? We can see that the price is going up after the listing on exchanges, which is a strong sign of interest. It will hit a new all-time high pretty soon, and after that, it can skyrocket. The accumulation phase should be completed, and we are ready for price discovery in 2024. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. About Pyth Network The Pyth Network is the largest and fastest-growing first-party oracle network. Pyth delivers real-time market data to financial dApps across 40+ blockchains and provides 380+ low-latency price feeds across cryptocurrencies, equities, ETFs, FX pairs, and commodities. The network comprises some of the world's largest exchanges, market makers, and financial services providers who contribute their own price data for use by smart contracts. Participants in the network include Binance, OKX, Jane Street, Bybit, Cboe Global Markets and more. The Pyth oracle program aggregates their data on-chain to guard against inaccuracies and manipulation. Finally, the protocol allows users to "pull" the latest price onto their blockchain when needed. In less than a year since the launch of the cross-chain pull oracle, the network has secured over SEED_TVCODER77_ETHBTCDATA:1B in total value. The Pyth Network has been used by over 250 applications to secure $100B in trading volume. Integration with Pyth Price Feeds is permissionless. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
14
PYTH buy setupOn the PYTH chart, we have a iCH, we have a bullish view on this symbol to supply.We also have a good support area on the chart The Demand range is the right place to enter a Buy/Long position. Closing a 4H candle below the invalidation level will invalidate our view and invalidate the analysis Note that the financial market is risky, so: Do not enter any position without confirmation and trigger. Do not enter a position without setting a stop. Do not enter a position without capital management. When we reach the first TP, save some profit and try to move the stop continuously in the direction of your profit. If you have any comments please post them, comments will help us improve our performance Thanks
Long
by iMoneyTeam
PYTH Breaks Barriers , but Could Be Rejected By Resistance SoonOKX:PYTHUSDT went ballistic over the past 24 hours and was able to break through multiple resistance levels. As a result, it is now attempting to flip the resistance level at $0.7934 into support. Technical indicators show that PYTH is deep within a short-term bullish cycle. Looking at the Exponential Moving Averages (EMA), the 9 EMA crossed above the 20 EMA, indicating a positive trend. This crossover suggests increasing buying pressure and potential upward momentum for the pair. However, it's essential to consider other indicators to validate this bullish sentiment. The Moving Average Convergence Divergence (MACD) further supports the bullish outlook, with the MACD line consistently staying above the signal line. The histogram, representing the difference between the MACD and signal line, has been consistently positive, indicating strengthening bullish momentum. On the other hand, the Relative Strength Index (RSI) recently reached overbought territory at 87.04, indicating potential overvaluation. This may be an early sign of a correction as downside potential for the Pyth Network price is currently greater than its upside potential, which is generally seen as a sell signal by traders. Analyzing the support and resistance levels, we identify crucial thresholds for potential price movements. The support levels are observed at $0.6850, $0.6318, and $0.5782. These levels may act as barriers against further downward movements, providing opportunities for potential buying interest. Considering potential entry and exit points for traders, long positions could be initiated if the the Pyth Network price remains above the 20-day EMA and closes a 4-hour candle above the resistance at $0.7934. In contrast, short positions could be considered if the price falls below the 9-day EMA and breaches support at $0.6850, with caution exercised around the support levels mentioned.
Short
by StevenWalgenbach