Pyth Network (PYTH) Price Prediction 2024, 2025, 2026-2030
- Bullish PYTH price prediction for 2024 is $0.4418to $0.6564
- Pyth Network (PYTH) price might reach $1 soon.
- Bearish (PYTH) price prediction for 2024 is $0.2333.
In this Pyth Network (PYTH) price prediction 2024, 2025-2030, we will analyze the price patterns of PYTH by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
PYTH NETWORK (PYTH) PRICE PREDICTION 2024 |
|
| PYTH NETWORK (PYTH) PRICE PREDICTION 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Pyth Network (PYTH) Current Market Status
| Current Price | $0.4395 | 24 Hour Price Change | 7.27% Up |
| 24 Hour Trading Volume | $109,423,005 |
| Market Cap | $660,204,059 |
| Circulating Supply | 1,499,989,237 PYTH | All Time High | $0.6544 ( On Nov 20, 2023) |
| All Time Low | $0.2289 (On Jan 08, 2024) |
What is Pyth Network (PYTH)
| TICKER | PYTH |
| BLOCKCHAIN | Solana Blockchain |
| CATEGORY | Decentralized Oracle Network |
| LAUNCHED ON | November 2023 |
| UTILITIES | Governance, security, gas fees & rewards |
Pyth Network, established in 2020, addresses the shortcomings of traditional oracles by providing ultra-low-latency, institutional-grade market data for decentralized finance (DeFi). Serving as a decentralized marketplace for financial data, Pyth incentivizes over 90 first-party publishers, including major exchanges and market-making firms, to contribute their proprietary data directly to the blockchain. This innovative first-party data model future-proofs Pyth for the evolving DeFi landscape. The Pyth Protocol aggregates data from these providers on the Pythnet blockchain, producing unified price feeds every 400 milliseconds.
Notably, Pyth stands out with a Pull Oracle architecture, allowing users to request updates when needed, minimizing gas fees. With over 350 low-latency price feeds and high-frequency updates, Pyth Network excels in speed, coverage, and sourcing/quality of data, making it a game-changer among blockchain oracles. Pyths transparency, multi-chain availability, and high-resolution data contribute to its significance in the DeFi space.
Pyth Network 24H Technicals
(Source: TradingView)
Pyth Network (PYTH) Price Prediction 2024
Pyth Network (PYTH) ranks 92nd on CoinMarketCap in terms of its market capitalization. The overview of the Pyth Network price prediction for 2024 is explained below with a daily time frame.
PYTH/USDT Right Angled Descending Broadening Wedge Pattern (Source: TradingView)
In the above chart, Pyth Network (PYTH) laid out a right-angled descending broadening wedge pattern. A right-angled descending broadening wedge is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Pyth Network (PYTH) was recorded at $0.4395. If the pattern trend continues, then the price of PYTH might reach the resistance level of $0.4339, and $0.8317. If the trend reverses, then the price of PYTH may fall to the support of $0.2276.
Pyth Network (PYTH) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Pyth Network (PYTH) in 2024.
PYTH/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Pyth Network (PYTH) for 2024.
| Resistance Level 1 | $0.4418 |
| Resistance Level 2 | $0.6564 |
| Support Level 1 | $0.3157 |
| Support Level 2 | $0.2333 |
PYTH Resistance & Support Levels
Pyth Network (PYTH) Price Prediction 2024 RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Pyth Network (PYTH) are shown in the chart below.
PYTH/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Pyth Network (PYTH) market in 2024.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $0.3950Price = $0.4218(50MA < Price) | Bullish/ Uptrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 56.6730 <30 = Oversold 50-70 = Neutral>70 = Overbought | Neutral |
| Relative Volume (RVOL) | Assets trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Pyth Network (PYTH) Price Prediction 2024 ADX, RVI
In the below chart, we analyze the strength and volatility of Pyth Network (PYTH) using the following technical analysis indicators Average Directional Index (ADX) and Relative Volatility Index (RVI).
PYTH/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Pyth Network (PYTH).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 19.5613 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 57.05 <50 = Low >50 = High | High volatility |
Comparison of PYTH with BTC, ETH
Let us now compare the price movements of Pyth Network (PYTH) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs PYTH Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of PYTH is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of PYTH also increases or decreases respectively.
Pyth Network (PYTH) Price Prediction 2024, 2025 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Pyth Network (PYTH) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Pyth Network (PYTH) Price Prediction 2025 | $2 | $0.2 |
| Pyth Network (PYTH) Price Prediction 2026 | $3 | $0.15 |
| Pyth Network (PYTH) Price Prediction 2027 | $4 | $0.1 |
| Pyth Network (PYTH) Price Prediction 2028 | $5 | $0.09 |
| Pyth Network (PYTH) Price Prediction 2029 | $6 | $0.07 |
| Pyth Network (PYTH) Price Prediction 2030 | $7 | $0.05 |
Conclusion
If Pyth Network (PYTH) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Pyth Network (PYTH) price prediction for 2024 is $0.6564. Comparatively, if unfavorable sentiment is triggered, the bearish Pyth Network (PYTH) price prediction for 2024 is $0.2333.
If the market momentum and investors sentiment positively elevate, then Pyth Network (PYTH) might hit $1. Furthermore, with future upgrades and advancements in the Pyth Network ecosystem, PYTH might surpass its current all-time high (ATH) of $0.6544 and mark its new ATH.
FAQ
1. What is Pyth Network (PYTH)?
Pyth Network, established in 2020, addresses the shortcomings of traditional oracles by providing ultra-low-latency, institutional-grade market data for decentralized finance (DeFi)
2. Where can you purchase Pyth Network (PYTH)?
Pyth Network (PYTH) has been listed on many crypto exchanges, including Binance, OKX, Bybit, Blofin, and Bitrue.
3. Will Pyth Network (PYTH) reach a new ATH soon?
With the ongoing developments and upgrades within the Pyth Network Platform, PYTH has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Pyth Network (PYTH)?
On November 20, 2023, PYTH reached its new all-time high (ATH) of $0.6544.
5. What is the lowest price of Pyth Network (PYTH)?
According to CoinMarketCap, PYTH hit its all-time low (ATL) of $0.2289 on Jan 08, 2024.
6. Will Pyth Network (PYTH) reach $1?
If Pyth Network (PYTH) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon.
7. What will be Pyth Network (PYTH) price by 2025?
Pyth Network (PYTH) price is expected to reach $2 by 2025.
8. What will be Pyth Network (PYTH) price by 2026?
Pyth Network (PYTH) price is expected to reach $3 by 2026.
9. What will be Pyth Network (PYTH) price by 2027?
Pyth Network (PYTH) price is expected to reach $4 by 2027.
10. What will be Pyth Network (PYTH) price by 2028?
Pyth Network (PYTH) price is expected to reach $5 by 2028.
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Disclaimer: The opinion expressed in this chart is solely the authors. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/pyth-network-pyth-price-prediction-2024-2025-2026-2030/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
