The crypto PYTH surged over 100% in 24 hours, driven by the US government's plan to provide macroeconomic data through blockchain. Despite this impressive rally, PYTH has yet to reach its all-time high, hinting at further upside potential.
The cryptocurrency PYTH has experienced a meteoric rise of over 100% in the last 24 hours, galvanized by the U.S. government’s initiative to distribute key economic data via blockchains like Bitcoin, Ethereum, and Solana. The plays an essential role in the decentralized verification of this on-chain data.
Although this spectacular surge is impressive, PYTH has not yet reached its all-time high of $1.20. With a current price of $0.223, there’s still significant room for growth. Despite losses of approximately 16% year-over-year, on-chain and technical signals indicate that PYTH could still climb higher, even though volatility remains a concern.
On-chain analysis reveals a mixed picture. On one hand, a group of whales reduced their positions by approximately 2.86% over the past 24 hours. But on the other hand, other cohorts of buyers have filled this void. Exchange reserves have decreased by 77.2 million PYTH, equivalent to $17.2 million at $0.223, indicating accumulation outside exchanges and reduced selling pressure.
Meanwhile, the top 100 addresses (another category of whales or mega-whales) have added 24.1 million PYTH, approximately $5.37 million. In total, buyers have absorbed more than $22 million worth of tokens, demonstrating sustained overall demand despite profit-taking by some holders.
The daily chart shows a “megaphone” pattern, indicating increased volatility and sharp movements. However, technical analysis remains encouraging: The 50-day exponential moving average (EMA) is about to cross above the 100-day EMA, forming a potential “golden cross,” often considered a bullish signal.
On a 4-hour timeframe, the Bull Bear Power indicator remains positive, indicating that buying pressure still dominates selling pressure. This confirms that bulls maintain control over momentum, even in the face of occasional price corrections.
After a 100% increase in 24 hours, he maintains potential toward $0.40, representing nearly 80% additional gains. Nevertheless, investors should remain vigilant in the face of high volatility, adopting a cautious strategy and adequate diversification to benefit from this boiling market.
The current price of Pyth Network is approximately $0.223. A 100% increase over the past 24 hours. Take advantage of this unique opportunity following this historic agreement.
Here’s how to buy PYTH on Bitget:
Related articles:
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
