The Pyth Network Price Drops by 5% in 24 hours
The Pyth Network price dropped 5% over the past 24 hours to trade at $0.397 as of 8:50 am EST.
The Pyth Network Price At Risk Of Further Downside
The Pyth Network price may drop below the immediate support level at $0.3820 in the next 24 hours as a bearish rising wedge pattern has emerged on the altcoin’s 4-hour chart.
If the pattern is validated, PYTH may drop further to $0.3140 with further selling pressure leading to a plummet to $0.2580 in the short term. This bearish thesis could be invalidated if Pyth is able to close a 4-hour candle above the upper boundary of the rising wedge chart pattern, which is positioned slightly above the major resistance level at $0.4385.
A sustained close above this level could give PYTH the foundation needed to overcome the $0.5180 barrier as well in the following couple of days.
Technicals Show Sellers May Pull Down The Pyth Network Price
Technical indicators on PYTH’s 4-hour chart suggest that sellers are stronger than buyers. The MACD line is also currently breaking away below the MACD Signal line, which may indicate that PYTH’s negative trend will continue in the next 48 hours. The RSI line is positioned below its Simple Moving Average (SMA) line, signaling that bears are stronger than bulls. However, the tides may turn in favor of buyers soon, as the RSI is sloped positively towards overbought territory.
While the Pyth Network price stands the risk of falling further in the next couple of days, investors are busy rushing to the AI-powered trading platform Launchpad XYZ.
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Launchpad XYZ is an innovative platform that offers a suite of state-of-the-art trading tools powered by AI technology. Their bespoke AI language model crunches large amounts of trading data to generate trade signals, which have successfully generated a return of 2,917% for one investor.
Launchpad XYZ’s native token, LPX, can be purchased using either ether (ETH), Tether (USDT), Binance Coin (BNB) or bank card, and is currently selling for $0.045.
More Than A Speculative Opportunity
Launchpad XYZ offers investors more than just a speculative trade opportunity. The project’s popularity is on the rise, and has resulted in interest in the project exploding, with its presale surpassing the $2.6 million mark.
As volatility in the crypto market starts to pick up, traders may want to utilize the advanced trading tools offered within the Launchpad XYZ platform to optimize their trading strategies.
LPX can be purchased here.
Hot Take
As volatility in the crypto market starts to pick up, traders may want to utilize the advanced trading tools offered within the Launchpad XYZ platform to optimize their trading strategies. LPX can be purchased here.
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