Market Overview for Pyth Network/Bitcoin (PYTHBTC)

Summary
• PYTHBTC opened at $0.00000090 and closed at $0.00000091 after a 24-hour session marked by consolidation and minimal directional bias.
• The pair traded between $0.00000086 and $0.00000092, with volume concentrated in midday and early evening ET, showing no clear breakout attempts.
• Notional turnover was moderate, with no signs of large whale activity or divergences in volume and price action.

PYTHBTC opened at $0.00000090 on 2025-11-04 12:00 ET and closed at $0.00000091 by 2025-11-05 12:00 ET, reaching a high of $0.00000092 and a low of $0.00000086. The 24-hour volume totaled 776,460.0 units, while notional turnover (based on average price) stood at roughly $705.62, indicating a relatively quiet session with no material price shifts.

Structure & Formations

The 15-minute OHLCV data reveals a tight range-bound market with a consolidation pattern forming between $0.00000086 and $0.00000092. A small bearish engulfing pattern was visible midday as PYTHBTC briefly dipped to $0.00000086, but buying pressure quickly reversed the move. A doji formed around $0.00000090 in early morning ET, suggesting indecision among traders before a modest rally to $0.00000091. Key support levels appear to be forming at $0.00000088–0.00000089, while resistance remains at $0.00000092–0.00000093.

Moving Averages

Short-term moving averages, including the 20-period and 50-period SMAs on the 15-minute chart, were closely aligned, reinforcing the lack of clear momentum in either direction. On the daily chart, the 50-period SMA sits slightly above the 200-period, indicating a mildly bullish bias over the medium term, but the 15-minute timeframe shows no divergence. The price remains within a tight channel, with no clear crossover trades emerging in the 24-hour period.

MACD & RSI

The MACD histogram showed little divergence throughout the 24-hour period, with both the MACD line and signal line hovering near the zero line, consistent with range-bound conditions. RSI oscillated between 45 and 58, staying firmly in the neutral zone and avoiding overbought or oversold conditions. This suggests that momentum is neither strong nor weakening, and the market remains balanced.

Bollinger Bands

PYTHBTC has remained within the Bollinger Bands for most of the 24-hour period, with a brief contraction seen during the overnight hours. The bands widened slightly in the late morning and midday hours, coinciding with increased volatility, but the price failed to break through either the upper or lower bands, suggesting limited breakout potential.

Volume & Turnover

Volume spiked midday and early evening ET, particularly between 17:00 ET and 21:00 ET, where trades accounted for over 75% of the total volume. However, price did not make a meaningful move in either direction during this time, signaling that buying and selling pressure were well balanced. Notional turnover mirrored the volume profile, with no major divergence seen between price and turnover.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour range between $0.00000086 and $0.00000092, key levels of interest include the 38.2% retracement at $0.00000089 and the 61.8% retracement at $0.00000088. These levels have acted as tentative support and resistance, with the 61.8% level showing stronger buying interest during the overnight hours.

Backtest Hypothesis

The backtesting strategy focuses on identifying overbought conditions via the 14-period RSI for PYTHBTC, but historical data for this pair is either unavailable or incomplete when querying from 2022-01-01 to the present. This is likely due to either the pair not being listed on the data provider’s exchange or its listing being too recent. To proceed with the strategy, an alternative pair—such as PYTHUSDT—must be confirmed as having sufficient historical data. Once a valid symbol is identified, the RSI-based overbought entry strategy can be applied and validated.