Pyth Network is Trading -24.43% Below Our Price Prediction for Oct 28, 2024

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Pyth Network is down -3.69% today against the US Dollar
• PYTH/BTC decreased by -2.20% today
• Pyth Network is currently trading 24.43% below our prediction on Oct 28, 2024
• Pyth Network gained 2.50% in the last month and is down -1.51% since 1 year ago

PYTH price is expected to rise by 29.87% in the next 5 days according to our Pyth Network price prediction

is trading at $ 0.333985 after losing -3.69% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -3.89% in the same time period. PYTH performed poorly against BTC today and recorded a -2.20% loss against the world’s largest cryptocurrency.

According to our Pyth Network price prediction, PYTH is expected to reach a price of $ 0.441928 by Oct 28, 2024. This would represent a 29.87% price increase for PYTH in the next 5 days.

PYTH Price Prediction Chart

Buy/Sell Pyth Network

What has been going on with Pyth Network in the last 30 days

Pyth Network has been displaying a positive trend recently, as the coin gained 2.50% in the last 30-days. The medium-term trend for Pyth Network has been bearish, with PYTH dropping by -3.51% in the last 3 months. The long-term picture for Pyth Network has been negative, as PYTH is currently displaying a -1.51% 1-year price change. On this day last year, PYTH was trading at $ 0.339090.

Pyth Network reached its all-time high price on Mar 16, 2024, when the price of PYTH peaked at $ 1.14. The current PYTH cycle high is $ 0.380439, while the cycle low is at $ 0.223548. PYTH has been displaying low volatility recently – the 1-month volatility of the coin is at 5.00. Pyth Network recorded 14 green days in the last 30 days.

Pyth Network technical analysis for today – Oct 23, 2024

The sentiment in the Pyth Network markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.336342, $ 0.326312 and $ 0.314809, while $ 0.357874, $ 0.369377 and $ 0.379407 are the key resistance levels.

Bearish sentiment for Pyth Network

8 indicators are currently signaling a bullish prediction for Pyth Network, while 15 indicators are showing a bearish forecast. With 65% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Pyth Network.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 71 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Pyth Network moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Pyth Network is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Pyth Network is at 52.20, suggesting that PYTH is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Pyth Network over the last 50 days. Currently, Pyth Network is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the PYTH closing price for the last 200 days. PYTH is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Pyth Network prediction

After considering the above factors, we can conclude that the current forecast for Pyth Network price prediction is Bearish. PYTH would have to increase by 29.87% to hit our $ 0.441928 target within the next five days. Moving forward, it will be important to monitor the PYTH market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Pyth Network price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.