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PYTH NETWORK IGNITES AFTER US DEAL
GOVERNMENT PARTNERSHIP SPARKS THE RALLY
Pyth Network shocked the market this week after announcing that the US Department of Commerce had selected it as an oracle partner to help publish official economic data, @Pyth Network
including GDP, directly on.chain. This was a massive credibility boost, pushing PYTH up more than 100% in a single move. Such government recognition not only validates its technology but also sets it apart from smaller oracle projects.
TRADERS AND WHALES STEP IN
The surge wasnโt just retail hype. Whales have been quietly adding to their holdings, with on chain data showing a 14% increase in whale balances over the last week.
At the same time, trading volume exploded nearly 8,600% in 24 hours, while open interest in futures contracts hit an all time high of $188 million. This mix of whale confidence and aggressive trader positioning fueled the momentum.
TECHNICAL BREAKOUT SHIFTS MARKET STRUCTURE
From a technical perspective, PYTH has decisively broken out of a multi month downtrend. The token is now trading above its 50 day and 200 day moving averages, both bullish signs.
The Supertrend indicator has also flipped green, confirming a buy signal. Immediate resistance sits around $0.26, but if bulls clear that level, the path toward $0.30 opens up.
RISKS REMAIN ON THE HORIZON
Despite the optimism, traders need to stay cautious. Resistance zones between $0.18 and $0.23 have historically triggered sell offs and any failure to hold support near $0.19 could send PYTH back toward $0.10. $PYTH
Volume has also cooled slightly after the initial spike, which means bulls will need to show fresh conviction to keep the rally alive.
THE ROAD TO $0.30
Right now, sentiment is strongly in PYTHโs favor, with reduced exchange balances hinting at long term holder confidence. If the project delivers more partnerships or continues to attract institutional support, the $0.30 target is within reach.
Still, given the resistance overhead, a gradual climb looks more likely than an immediate breakout. For now, PYTH remains one of the most exciting tokens to watch in the oracle sector. #PythRoadmap
Pyth Network shocked the market this week after announcing that the US Department of Commerce had selected it as an oracle partner to help publish official economic data, @Pyth Network
including GDP, directly on.chain. This was a massive credibility boost, pushing PYTH up more than 100% in a single move. Such government recognition not only validates its technology but also sets it apart from smaller oracle projects.
TRADERS AND WHALES STEP IN
The surge wasnโt just retail hype. Whales have been quietly adding to their holdings, with on chain data showing a 14% increase in whale balances over the last week.
At the same time, trading volume exploded nearly 8,600% in 24 hours, while open interest in futures contracts hit an all time high of $188 million. This mix of whale confidence and aggressive trader positioning fueled the momentum.
TECHNICAL BREAKOUT SHIFTS MARKET STRUCTURE
From a technical perspective, PYTH has decisively broken out of a multi month downtrend. The token is now trading above its 50 day and 200 day moving averages, both bullish signs.
The Supertrend indicator has also flipped green, confirming a buy signal. Immediate resistance sits around $0.26, but if bulls clear that level, the path toward $0.30 opens up.
RISKS REMAIN ON THE HORIZON
Despite the optimism, traders need to stay cautious. Resistance zones between $0.18 and $0.23 have historically triggered sell offs and any failure to hold support near $0.19 could send PYTH back toward $0.10. $PYTH
Volume has also cooled slightly after the initial spike, which means bulls will need to show fresh conviction to keep the rally alive.
THE ROAD TO $0.30
Right now, sentiment is strongly in PYTHโs favor, with reduced exchange balances hinting at long term holder confidence. If the project delivers more partnerships or continues to attract institutional support, the $0.30 target is within reach.
Still, given the resistance overhead, a gradual climb looks more likely than an immediate breakout. For now, PYTH remains one of the most exciting tokens to watch in the oracle sector. #PythRoadmap
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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