$USDC PYTH/USDC Breakdown (Binance)
1. Price Action:
- Current: $0.1693 (support at $0.16, resistance $0.18).
- 7-day trend: -12% (mirroring oracle sector slump).
2. Liquidity Check:
- 24h volume: $2.1M (low vs. Binance’s top pairs). Higher slippage risk.
3. Technical Signal:
- RSI: 33 (oversold territory). Potential bounce?
- MACD hints at bearish momentum but nearing reversal zone.
The “Broken Engine” Analogy
PYTH/USDC is like a sputtering engine: undervalued but needing repairs. Why?
- Catalyst Missing: No major Pyth Network updates since governance delays (bearish sentiment).
- USDC’s Role: Stability amid altcoin chaos, but low volatility = limited upside.
Action Plan
1. Exit PYTH/USDC if $0.16 breaks.
2. Switch to ONDO/USDC: Buy near dips but after making calculations .
3. Stop-Loss: 5% below entry.