Pyth Network (PYTHUSDT) 24-Hour Market Overview

Pyth Network (PYTHUSDT) closed at $0.1237 as of 12:00 ET today, down 0.6% from its open of $0.1169. Over the past 24 hours, it ranged between a high of $0.1254 and a low of $0.1166, with total volume of 30.5M tokens and $3.8M notional turnover.

Market Summary

• Price rallied to $0.1254 but failed to hold, creating resistance near that level.
• Key support at $0.122 held during late trading, marked by volume spikes.
• Bollinger Bands expansion highlights heightened volatility post-peak.

Technical Analysis

Structure & Formations

The $0.125 resistance zone (recent high) faces strong seller pressure, while $0.122 acts as dynamic support after multiple touches. A bearish engulfing candle formed at $0.1254 on heavy volume suggests short-term reversal potential.

Moving Averages

The 20-period SMA ($0.123) remains above the 50-period SMA ($0.1225), signaling neutral short-term momentum. On the daily chart, the 50-day SMA ($0.121) could anchor further dips.

MACD & RSI

MACD dipped below its signal line, hinting at fading bullish momentum. RSI hit overbought (72) at $0.1254 but retreated to 65, suggesting correction risks but no oversold conditions.

Bollinger Bands

Price tested the upper band ($0.1255) before retreating, while the lower band ($0.121) offers near-term support. Volatility expansion post-peak may precede consolidation.

Volume & Turnover

A $2.3M volume surge at $0.1233 coincided with price rejection at resistance, signaling bearish volume confirmation. Turnover peaked at $700K during the $0.1254 swing, but no clear divergence emerged.

Fibonacci Retracements

A $0.121–$0.1254 swing’s 38.2% retracement ($0.1236) and 61.8% ($0.1229) form critical near-term pivot points.

Outlook

PYTHUSDT may drift lower toward $0.122 in the next 24 hours as resistance holds, though a break above $0.1255 could revive bullishness. Traders should monitor volume confirmation at key levels and expect volatility to persist. Risk remains elevated near support/resistance clusters.