Gravity

2024

Pyth Network

PYTH, the native token of the Pyth Network, saw exponential growth and recovered over 20% this week. Amidst the significant developments, this token’s demands surged. 
Recently, Pyth Network announced an integration with a Layer-1 omnichain blockchain, Gravity. In this respect, Gravity allows PYTH to provide feeds on coins, tokens, or commodities and stocks, ETFs, or equities. 
With this promising development, PYTH price experienced a jump from its bottom mark of $0.2800. Price climbed above the 20-day EMA mark. 
The token still traded in a downtrend and needed to close above the $0.4000 mark for a trend reversal. Once it goes beyond the $0.4000 mark, it might extend its bullish leg toward the $0.4600 level. 
For the past few weeks, PYTH token continued to form the lower low swings and engaged in a significant retracement. Despite multiple attempts, the mighty bull army failed to cross the cluster of 50-day EMA and was still trading below it. 
A tweezer bottom formed near the downside zone of $0.2700, which signifies that the downside was protected and capped. Above the 50-day EMA, a potential trend reversal could be anticipated. 
<h2 class="wp-block-heading" id="h-pyth-at-press-time">PYTH at Press Time</h2> 
At press time, the Pyth Network was trading at $0.356 with an intraday surge of 1.33%, reflecting neutrality on the charts. Its trading volume surged over 80% to $ 
The pair of PYTH/BTC was at 0.00000553 BTC, and the market cap was $533.80 Million. Analysts were neutral and suggested that the PYTH price might register a breakout. It may reach the upside mark of $0.4000 soon. 
<h2 class="wp-block-heading" id="h-can-pyth-trigger-a-breakout">Can PYTH Trigger a Breakout?</h2> 
The daily chart of the PYTH token spotted a falling wedge pattern, and the token anticipated a breakout soon. It was trading near the brink of the trendline hurdle of $0.3800 and could see a blast soon. 
Buyers began the accumulation and were looking to stretch the pullback beyond the trajectory hurdle of $0.4000, where the 200-day EMA was placed. <iframe loading="lazy" title="Santiment Chart: Price (PYTH), Volume (PYTH)" width="800" height="425" src="https://embed.santiment.net/chart?ps=lido-dao&amp;pt=LDO&amp;df=2024-01-25T18%3A29%3A59.887Z&amp;dt=2024-07-25T18%3A29%3A59.887Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bpyth-network%3BPYTH%5D%3B%5B1%3Bvolume_usd%3Bpyth-network%3BPYTH%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
The Relative Strength Index (RSI) curve observed a positive crossover and rose to the overbought zone, implying a renewed buying interest. 
@Iwantcoinnews, in his Tweet, mentioned that PYTH has formed a positive divergence and is poised to go higher. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24PYTH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PYTH</a> | What I see <a href="https://t.co/n7y1xcDdXi">pic.twitter.com/n7y1xcDdXi</a>— iWantCoinNews
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@iWantCoinNews) <a href="https://twitter.com/iWantCoinNews/status/1816138864458691025?ref_src=twsrc%5Etfw">July 24, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-social-dominance-and-weighted-sentiment-data-insights">Social Dominance and Weighted Sentiment Data Insights</h2> 
The Social Dominance data looked flat at around 0.017%, signifying a decline in the chatter among the investors on the media platforms. <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (PYTH), Social Dominance (PYTH)" width="800" height="425" src="https://embed.santiment.net/chart?ps=lido-dao&amp;pt=LDO&amp;df=2024-01-25T18%3A29%3A59.887Z&amp;dt=2024-07-25T18%3A29%3A59.887Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_volume_consumed_total%3Bpyth-network%3BPYTH%5D%3B%5B1%3Bsocial_dominance_total%3Bpyth-network%3BPYTH%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
The Weighted sentiment data still stayed around the zero line, noted around -0.227 mark, implying a neutral stance. 
Its Open Interest data rose 8.78% to $39.89 Million, which signified fresh long additions in the past 24 hours. 
The immediate support levels for the PYTH token were $0.3200 and $0.3000, whereas the key upside hurdles were around $0.38000 and $0.4200. 
The PYTH token price climbed above the 20-day EMA mark and was trying to overtake the 50-day EMA mark for a significant upward move. Moreover, a fresh bullish wave was triggered, and buyers were eyeing to breach the $0.400 mark. 
The post <a href="https://www.thecoinrepublic.com/2024/07/26/pyth-price-bounces-back-after-announcing-integration-with-gravity/">PYTH Price Bounces Back After Announcing Integration With Gravity</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

PYTH Price Bounces Back After Announcing Integration With Gravity

Daftar Isi

Thecoinrepublic.com

Artikel lain yang dipublikasikan pada 26 Jul 2024

Clinton White House Staffer And OpenAI Executive Chris Lehane Joins Coinbase Board

Flipping Bitcoin ETF For Tesla Stocks: Ark Invest Shuffles Portfolio

Elon Musk’s X Removes Cryptocurrency Emojis, Puzzling the Crypto Community

BitFlyer Acquires FTX Japan to Expand in Japanese Crypto Market

Top Analyst Predicts Bitcoin’s (BTC) Path, Calls Cardano’s (ADA) Price Chart ‘Frustrating’

Crypto and Forex Fraudster To Pay $31M In CFTC Enforcement Action

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!