Pyth Network (PYTH) Price Prediction 2024-2030: Will the PYTH Price Hit $1 Soon?

• The bullish PYTH price prediction ranges from $0.9273 to $0.9861.
• PYTH price might also reach $1.134 in 2024.
• PYTH’s bearish market price prediction for 2024 is $0.2037.

What is Pyth Network (PYTH)?

As an oracle, Pyth Network publishes financial market data to diverse blockchains in the industry. The Pyth Network team boasts that over 90 first-party publishers contributed to their market data. From this combined market data, the network offers price feeds for a number of different asset classes, such as US equities, commodities, and cryptocurrencies. These price feeds publish a “robust aggregate” of publisher prices that is updated multiple times per second. 

As per the documents, Pyth offers three different data products to support various applications, such as Solana Price Feeds, Pythnet Price Feeds, and Benchmarks. The Pythnet Price Feeds provide real-time prices for 35+ blockchain ecosystems, such as Ethereum, BNB, Avalanche, and more. The ‘Benchmarks’ provide historical Pyth prices for both on-chain and off-chain use. Finally, the Solana Price Feeds share the real-time prices on the Solana Mainnet.

As the market that publishes pricing information, the Pyth Network is basically an interaction between three parties — Publishers, Pyth’s oracle program, and Consumers. Publishers are the ones who submit the pricing information to Pyth’s oracle program, and Pyth’s oracle program combines publishers’ data to produce a “single aggregate price and confidence interval.” Meanwhile, consumers are described as the ones who read the price information produced by the oracle program. 

PYTH is the governance token of the Pyth Network. According to documents, PYTH Token holders can access Pyth governance through “the convenient staking and governance frontend.” In Pyth Network’s ecosystem, it allows anyone who holds PYTH to participate in the governance system. The governance system uses a 1:1 coin-voting system where “each staked token confers one vote.”

Pyth Network (PYTH) Current Market Status

At the time of writing, the market cap for PYTH was $581,920,717 after a surge of 5.32% in just one day. According to CoinMarketCap, PYTH, priced at $0.3879, is ranked 99 based on its market capitalization. Additionally, the altcoin also recorded a spike of 8.99% in seven days. 

At the time of writing, PYTH’s 24-hour trading volume is now valued at $55,405,977, while experiencing a 33.43% tumble in one day. TradingView’s market summary further shows a strong buy signal in the weekly time frame. While the oscillator’s highlight is a neutral signal, the moving averages record a strong buy sentiment in the market. 

Pyth Network (PYTH) Price Analysis 2024

While PYTH continues to make progress through its developments and collaborations, could this drive the price of this altcoin upward? As time passes, what could be the investors’ sentiment on PYTH? 

Pyth Network (PYTH) Price Analysis – Bollinger Bands

With Bollinger Bands, it is possible to determine and analyze the price movement and the volatility of an asset. Moreover, Bollinger bands are used based on the empirical law of standard deviation, as the upper band is calculated by adding 2 standard deviations from the middle line, and the lower band is calculated by subtracting 2 standard deviations from the middle line. Finally, the empirical law of standard deviation states that 95% of the data sets would be within the two standard deviations.

The above chart highlights that the candlestick made a steep fall during the volatile market, as indicated by the expansion of the Bollinger Bands. After struggling to recover from its previous fall, PYTH managed to ascend only after the bands expanded once again. During the second phase of the expansion, the candlesticks hugged the upper band of the indicator and moved in an upward direction in the top-half of the Bollinger Band. Currently, the bands are positioned horizontally, which is a sign of consolidation. However, the candlesticks broke beyond the upper band, which may create turbulence in the market. 

Pyth Network (PYTH) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

The RSI is currently valued at 68.82 as it continues to move upwards, almost tpouching the overbought region. The bullish buyer-inflenced surge was triggered after a bullish cross performed by the RSI and the signal line. If the RSI continues to enter the overbought region, there may be a chance that traders could expect a fall over the coming days. As seen early, the RSI would face correction after it touched the overbought region. Similarly, traders can expect momentum where the RSI corrects itself.

Pyth Network (PYTH) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator helps the trader easily identify the trend of an asset and its current sentiment. Basically, MACD shows the difference between two Exponential Moving Averages (EMA) and helps traders see the crossover between them. By default, MACD has a set value of 12-day EMA, 26-EMA, and 9-day EMA. The MACD allows users to easily see the price trend through its line and histogram visualizations.

The green bars forming on the MACD indicator highlight that there is a slight bullish sentiment in the market. Moreover, the formation of green bars started after the MACD line crossed above the signal line. Currently, the MACD line and the signal line continue to move upwards with no sign of a stop. The green bars also indicate that the bullish trend may continue for some time.

Pyth Network (PYTH) Price Prediction 2024

Looking at the above chart, it seems that PYTH fell to its critical support. After a continuous hit on critical support, the altcoin began its uptrend after bouncing away from the edge. During its uptrend, the altcoin would break through several resistance levels; however, at the same time, we can notice that the candlesticks would observe a pullback to the 0.236 and 0.382 Fib levels before continuing its upward trend. 

Dividing the upward price action into two phases, the candlesticks have observed a pullback in both scenarios. Currently, the altcoin is preparing once again to ascend, trying to break through several resistances. Observing the Fib levels, there is a possibility that PYTH’s next target could be at $0.4365. 

Another target would be at $0.4971; however, it should be noted that these predictions are short term. For the long term, PYTH could seamlessly cross $0.9273 by the end of 2024 if this year proves to be a bullish period. PYTH could show an extremely bullish sentiment and break through $1.1.   

Pyth Network (PYTH) Price Prediction 2025

PYTH could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, PYTH will continue to rise in 2025, forming new resistance levels. It is expected that PYTH will trade beyond the $2.01 level.

Pyth Network (PYTH) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, PYTH could tumble into its support region of $167. Moreover, when PYTH remains in the oversold region, there could be a price correction soon. PYTH, by the end of 2026, could be trading beyond the $2.54 resistance level after experiencing the price correction.

Pyth Network (PYTH) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears. PYTH is expected to rise after its slumber in the bear season. Moreover, PYTH could even break more resistance levels as it continues to recover from the bearish run. Therefore, PYTH is expected to trade at $2.91 by the end of 2027.

Pyth Network (PYTH) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, PYTH will continue to form new higher highs and is expected to move on an upward trajectory. Hence, PYTH would be trading at $3.87 after experiencing a massive surge by the end of 2028.

Pyth Network (PYTH) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, PYTH could be trading at $4.21 by the end of 2029.

Pyth Network (PYTH) Price Prediction 2030

After witnessing a bullish run in the market, PYTH and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, PYTH could be trading at $4.56.

Pyth Network (PYTH) Price Prediction 2040

The long-term forecast for PYTH indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, PYTH may face a slight fall before starting its upward journey once again. It is expected that the price of PYTH could reach $16.27 by 2040.

Pyth Network (PYTH) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, PYTH could surpass the resistance level of $23.11.

Conclusion

PYTH has been on the watch-out list of many investors as it aims to make its mark in the blockchain industry. If investors continue to show interest in PYTH and add these tokens to their portfolio, then it could continue to rise. PYTH’s bullish price prediction shows that it could pass beyond the $0.9273 level in 2024. Moreover, PYTH could surpass the $23.11 level by the end of 2050.

FAQ