Altcoins News
By Sakamoto Nashi
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After delivering an impressive rally earlier this month, the Pyth Network’s native token, PYTH, has taken a sharp turn downward, losing nearly all of the gains it made in a…
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While a brief upward bounce was observed over the past 24 hours, with PYTH rising around 5.6%, that move came with a catch.
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The recent pullback followed a typical "blow-off top" scenario, where prices surge rapidly only to collapse just as quickly.
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Another technical indicator adding to the gloomy outlook is the MACD, or Moving Average Convergence Divergence.
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Market analysts also point to data from liquidation heatmaps as a reason for caution. According to a recent two-week heatmap, the $0.137 to $0.
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For PYTH to truly recover and signal that bulls are back in control, the price would need to break convincingly above the $0.16 level.
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In summary, while PYTH recently enjoyed a dramatic price surge, that momentum has quickly reversed, and all eyes are now on whether bulls can defend key levels.
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