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—— Ecosystem explosion + Technical breakout, PYTH has become the new mad dog in the coin circle 🐶🚀
Family, PYTH has gone completely crazy today! The daily line has surged directly from around 0.12 to 0.24, an increase of over 92%. This surge is too intense, what’s the logic behind it? Garry will break it down for everyone from both the ecosystem and technical perspective, and also provide operation strategies ~
1. The core logic behind PYTH's surge: Ecosystem + Emotional double explosion.
PYTH is the leading oracle in the Solana ecosystem, and there have been two major catalysts recently:
Ecosystem side: A large number of DeFi projects on the Solana chain (such as Jito, MarginFi) have integrated the PYTH oracle, leading to a surge in demand, and the fundamentals have solidified directly;
Emotional side: Small cryptocurrencies in the coin circle have rotated to the Solana ecosystem, with funds pouring in crazily. PYTH, as the 'core stock of the ecosystem', has been massively pulled by capital.
2. Technical analysis: The breakout with explosive volume still has room to grow!
Looking at the 1-hour chart:
Trading volume has exploded to an astronomical level (around 304 million), indicating that large funds are sweeping up assets;
The price has broken through the long-term sideways range (0.12 - 0.13) and is now retracing near 0.23, which is considered a 'confirmation after the breakout.'
The moving averages are in a bullish arrangement, and the short-term upward trend is very strong.
3. Operation strategy: Be cautious when chasing highs, look for support when buying low.
Aggressive traders: If it retraces to the 0.22 - 0.23 range, enter with a light position, stop loss at 0.21 (if it breaks, run), target 0.26 (previous high resistance), look to 0.3 after the breakout;
Conservative traders: Wait for a pullback to the 0.19 - 0.2 range (previous resistance becomes support), then accumulate lower, which is safer.
#PYTH This wave is driven by both the ecosystem and capital, and the short-term hype is still there! Want to catch such skyrocketing coins in real-time? Follow me, Garry, and comment 'follow the car' in the comments, and I will sync my real-time operation strategy with you ~
