Date: Fri, April 25, 2025 | 07:20 AM GMT

After a brutal first quarter that saw Ethereum (ETH) drop by 45%, the crypto market is finally starting to show signs of recovery. ETH has bounced back with a 12% gain over the past week, and this has sparked renewed momentum in many altcoins as well.

One such altcoin making a strong comeback is Pyth Network (PYTH). After experiencing a heavy sell-off, PYTH has surged by nearly 20% in just over a week—cutting its year-to-date losses down to about 53%. And now, a powerful harmonic pattern is forming, hinting that the recovery may not be over just yet.

Source: Coinmarketcap

Harmonic Pattern Signals More Upside Move

On the daily chart using Heikin Ashi candles, we can clearly see a Bearish Cypher harmonic pattern shaping up. These kinds of patterns often signal a bullish continuation—usually pushing price toward a specific reversal zone.

The structure begins at point X, which was a rejection from the February 10 high near $0.2635. From there, the price plummeted to point A, then rallied to point B, followed by a sharp correction to point C, which bottomed out around $0.1057 on April 7—marking a 59% drop from X.

Pyth Network (PYTH) Daily Chart/Coinsprobe (Source: Tradingview)

Currently, the price is moving higher to form the final leg CD of the pattern. If this pattern plays out as expected, $PYTH could rally to point D, located near the 78.6% Fibonacci retracement level of the X to C move—around $0.2299.

That suggests an upside potential of roughly 42% from the current price of $0.1622.

What’s Next for PYTH?

PYTH is now entering a key resistance zone. This could be a point where some traders choose to take profits—but it could also serve as a launchpad if broken convincingly.

Before hitting the final Cypher target, PYTH must overcome intermediate resistance at $0.2034, which coincides with the 0.618 Fibonacci retracement. A strong push above this level could fuel a faster rally toward $0.2299.

On the technical side, the structure remains bullish. The MACD indicator is also turning positive, indicating that upward momentum is building. As long as this structure holds, the short-term outlook for PYTH remains bright.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.