Is Pyth Network Going to Zero? PYTH Price Falls 6.9% and New Bitcoin Mining Protocol Reaches $4.8 Million
Pyth Network, the latest airdrop gainer, is currently experiencing downside movements with a 6.9% drop in price. This has led some investors to wonder if Pyth Network is heading towards zero. However, market sentiment remains positive as traders see the ongoing bounce out of the moving average support zone as a potential breakout move.
The current price recovery has brought Pyth Network’s price to $0.49, representing a 24-hour change of +17.38%. The drop in price was met with strong support at $0.41, indicating a successful consolidation. The price has now broken above resistance at $0.475 and could potentially reach an all-time high around $0.55.
While the RSI indicator suggests a bearish and overbought condition, the MACD indicator indicates continued upward momentum for Pyth Network’s price.
On the other hand, a new Bitcoin mining protocol called Bitcoin Minetrix has raised over $4.8 million in its presale. This protocol offers an innovative stake-to-mine system and aims to provide secure and transparent Bitcoin mining rewards for retail investors.
PYTH Price Analysis: Is Pyth Going to Zero After Price Falls -6.9% Or Is Come Back Rally On The Way?
Pyth Network’s price has experienced a 6.9% drop but is currently recovering and trading at $0.49 with a 24-hour change of +17.38%. The moving average support around $0.41 has provided strong defense against further downside movements.
The price has broken above resistance at $0.475, indicating a potential breakout move. However, the RSI indicator suggests a bearish and overbought condition, while the MACD indicator indicates continued upward momentum.
Overall, Pyth Network’s price looks healthy and has the potential to reach an all-time high around $0.55.
PYTH Price Retracement Alternative? Don’t Miss Bitcoin Minetrix $BTCMTX Presale As $4.87M Raised
Bitcoin Minetrix, a new Bitcoin mining protocol, has raised over $4.8 million in its presale. This protocol offers a secure and transparent Bitcoin mining system with a stake-to-mine mechanism. It aims to provide retail investors with an opportunity to participate in profitable Bitcoin mining while promoting decentralization.
The current state of Bitcoin mining is highly centralized, with two mining pools receiving over 55% of all block rewards. Bitcoin Minetrix seeks to address this issue by redistributing mining profits to individual retail investors.
With the upcoming Bitcoin halving event, Bitcoin Minetrix provides investors with an opportunity to tap into the potential surge in Bitcoin’s value without the associated capital risks.
Key Highlights of the BTCMTX Advantage Over PYTH Price Retracement:
- Distinctive Edge in the Market: Bitcoin Minetrix offers an automated system for cloud-based Bitcoin mining, setting a new standard in the industry.
- Safety First with Ethereum Blockchain: Bitcoin Minetrix operates on the secure Ethereum blockchain, avoiding risks associated with external mining pools and fraudulent services.
- Championing True Decentralization: Bitcoin Minetrix redistributes mining profits from large corporations to individual retail investors, promoting decentralization.
- Tapping into the
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