Huge Unlocks ---- PYTHIn the next few hours, $825.5m worth of PYTH will be unlocked, releasing tokens equivalent to 141% of the current circulating supply. Different from ChainLink which has PUSH mechanism, as a representative of PULL mechanism, PYTH has developed rapidly in the past year. Nearly 200 protocols currently use PYTH as oracle. And as the demand for high-frequency data such as perpetual transactions or option transactions increases, the advantages of the PULL mechanism become more obvious. Fundamentally, PYTH has good development prospects.
But from a valuation perspective, PYTH's FDV has reached $4B. Already far more than many other oracle tokens except LINK. Therefore, after huge number unlocks, the value may be revalued. We mentioned similar logic in our previous article about SUI.
It can also be seen from the price trend that the PYTH dropped significantly when the huge unlocks is approaching. It is currently lower than TGE's closing price. Looking at the TSB indicator, PYTH is also experiencing a bearish trend. The column cannot even touch the wavy area. Therefore, PYTH may maintain a bearish trend for a long time to come.
Introduction to indicators:
Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated.
KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
PYTHUSDT trade ideas
Long term positionSEED_DONKEYDAN_MARKET_CAP:PYTH looks very promising right now, and I believe it has likely completed wave 2. In the short term, there may be price volatility due to the massive token unlock happening on the 20th. If this occurs, SEED_DONKEYDAN_MARKET_CAP:PYTH should not fall below its previous support level at $0.4. If this support holds, a double bottom signal could emerge, pushing the price upward. You might want to wait for certain signals, such as the formation of a double bottom or a bullish divergence, before deciding to open a long position.
Good for Long TermThe 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.
#PYTH/USDT#PYTH
The price is moving in a bearish channel pattern on the 4-hour frame, and it adheres to it well, and it is expected to break to the upside
The price rebounded well from the lower border of the channel at the green support level of 0.4220, which is a strong level
We have a trend to hold above the Moving Average 100, which is strong support for the rise
We have very strong oversold saturation on the RSI indicator to support the rise, with a downtrend about to break higher
Entry price is 0.4380
The first target is 0.5146
The second target is 0.5747
The third target is 0.6550
PYTH - Possible stop huntDon't even know the purpose of this coin, all I care about is the chart. That being sad, this dip below those equal lows could turn into a stop hunt, which is typical for market behaviour, especially for cryptos.
These trades usually have the highest risk/reward because you can simply place a very tight stop below the wick and just let it ride.
Punted a long here.
Stay safe!
PYTH taget $1.45 (perp)4h time frame
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TP: $1.4~$1.53
SL: $0.426
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PYTH follows the Elliott 2nd wave with being sold off since $1.15, but got support from the structural support zone and 0.382 Fibonacci projection, both form a robust bottom at $0.5 so far. If PYTH goes the assumed path, I can say next big pump, made of Elliott 3rd wave, is following and will bring PYTH to make ATH soon. It is hard to estimate critical resistance once PYTH goes over $1.15, so we can use Fibonacci tool to set up the target to profit around $1.4~$1.53, which RRR is over 8.
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Refer to link below if you're interested in my perspective of Bull High of PYTH.
📊#PYTH will rise according to the double bottom structure📈🧠A double bottom structure was constructed in the buy zone. The ideal target zone of this structure has not yet been realized, and the price has returned to the buy zone again, so there is a high probability that we will start to rebound from here.🚀
⚠️Don’t forget risk management💯
✔️Trade safe✔️
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#PYTH/USDT#PYTH
The price is moving in a downtrend on a 4-hour frame
After bouncing from a major support area in green at the $0.5000 level
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI that is about to break higher
Entry price is 0.5700
The first target is 0.6700
The second target is 0.7700
The third goal is 0.9000
#PYTH/USDT breaks the Diagonal Trendline in 4-Hour TF!#PYTH/USDT breaks the Diagonal Trendline in 4-Hour TF!
SEED_DONKEYDAN_MARKET_CAP:PYTH is heading towards a retest, Wait for a successful retest to long #PYTHUSDT. In case of a successful retest, I am expecting a bullish momentum.
@CryptoNoan your thoughts on it would be appreciated.
PYTH target $134h time frame
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PYTH has sold off rapidly in the early of April, and saw lows of $0.48. From perspective of TA, PYTH is correcting with the 2nd wave of Elliott impulse wave that is great for accumulation of momentum to build the 3rd wave. $0.48 aforementioned is also the corresponding support zone to the price zone built in Feb. In conclusion, $0.48~$0.58 are a good zone to enter, and target is put on $13 once the bull starts.
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Bull target: $18~$20
PYTH 1-2 SetupThe PYTH NETWORK 1-2 setup is currently unfolding. Wave-1 concluded its upward movement on March 18th, and we are now in a downward Wave-2, for which I've included a 0.88 Fibonacci level due to volatility. You can begin scaling into support and scaling out at resistance. Once Wave 2 concludes, I will provide the price target for Wave 3, now assuming Wave 2 has bottomed out. On a micro level, we're in Wave a of 2, anticipating Wave b of 2 and eventually Wave c of 2 heading downward, although the micro structure may shift. This setup offers a lower risk compared to the 4-5 setup for other altcoins
Alikze »» PYTH | Penetration below the resistance zone🔰 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 currency of the PYTH network has faced supply in the 4H and 8H time after an upward trend in the resistance range, which currently, due to the fact that it has penetrated below the resistance, it can face any higher supply and up to the green box area of this correction.
🔰 to continue But if the resistance zone and the dynamic trigger break, it can continue to grow until the next supply zone.
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PYTH/USDT Long Trading Opportunity!#PYTH/USDT SPOT LONG ENTRY
Leverage: 1x
Entries: $0.8536
Take profit 1: $0.9062
Take profit 2: $1.0065
Take profit 3: $1.1408
Stop Loss: $0.7531
NOTE: This is just my prediction. Be sure to use STOPLOSS and remember that I am not a financial adviser. your money, your risk!
Thanks
The sroced.
BINANCE:PYTHUSDT
📊#PYTH may rise according to the smiley face structure📈From a macro-cyclical perspective, we still have unfulfilled bullish goals. After pulling back to near the neckline buying zone, we successfully constructed a smiling bullish structure. We may use this structure as support to start pumping.🚀
Let's see👀
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Pyth/Usdt Breakout And Retest The Pyth/USDT trading pair is currently showing a strong performance as the price bounces back from the Exponential Moving Average (EMA) 25 level. The breakout from the previous resistance has been verified through analysis of the chart data, indicating a potential shift in market sentiment. It seems that the price is undergoing a retesting phase, which usually occurs after a breakout to confirm the validity of the new trend.
Based on the current market conditions, there is an anticipation of a bullish movement with a potential price increase ranging between $30 to $60. This indicates a positive momentum in the market, suggesting that buyers may be stepping in to drive the price higher.
Please be aware that this information is provided for educational purposes only and should not be considered as financial advice. It is strongly advised to perform your own thorough research (DYOR) and analysis before making any investment decisions to ensure they align with your individual financial goals and risk tolerance.