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Upside forces in the Pyth Network market are actively at work. As a result, the coin has registered a price increase of 22.36% as of the time of writing. From the look of things, more gains may be seen in the market.
PYTH Statistics
Current Price: $0.0602
Market Capitalization: $352.93M
Circulating Supply: 5.74B
Total Supply: 9.99B
CoinMarketCap Rank:
Key Levels
Resistance: $0.04000, $0.04500, $0.05000
Support: $0.03500, $0.03000, $0.02500
Pyth Network Sees a Strong Upward Thrust
The current session in the PYTH/USDT daily market has received a significant upward push. The corresponding price candle appears green and tall above the 9-day Exponential Moving Average (EMA) line.
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Pyth Network Sees a Strong Upward Thrust (Continued)
Momentum also seems strong, as the lines of the Stochastic Relative Strength Index (SRSI) indicator keep reaching into the overbought region. The lines of the indicator are well separated and are not hinting at any trend reversal just yet.
PYTH Breaks the $0.0600 Resistance
The Pyth Network market has clearly shown that the coin’s price has breached a new resistance level. As a result, the token now trades above the 9-day EMA even on shorter time frames. The appearance of the corresponding price candle suggests growing bullish momentum.
PYTH Network: FOMO or Wait?!
The Pyth Network still holds a relatively small market capitalization. It is also a multichain blockchain network. This strategically positions it as one of the coins capable of achieving significant growth potential.
PYTH Breaks the $0.0600 Resistance (Continued)
Meanwhile, the SRSI indicator lines are at the 100 mark and are now moving sideways. It seems that the lines have remained at this level for some time and may be preparing for a shift. Currently, the indicator lines are merged and running sideways around the 98 mark. The ongoing session suggests that buyers are still active, and the price may reach the $0.0650 or $0.0700 level.
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