Pyth drops 7.56% as sellers drive price near $0.0354 support

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Pyth drops 7.56% today to $0.0367

Highlights

Pyth Network introduced Pyth Pro on Cardano, delivering millisecond-level price feeds from 125+ institutions to Cardano-based projects.
Indigo Protocol became the first adopter of Pyth Pro, while support from the Cardano Foundation and Intersect is accelerating ecosystem integration.
PYTH/USD remains in a bearish trend, trading below major moving averages with an 80% probability of further decline toward the $0.0354–$0.0420 range.

Ecosystem expansion on Cardano as developer adoption grows

Pyth Network has launched Pyth Pro on Cardano, introducing millisecond-level price feeds sourced from over 125 institutions and providing enhanced data capabilities within the Cardano ecosystem. The rollout enables Cardano-based projects to freely request API keys, streamlining integration with Pyth’s data services and improving accessibility for developers. Initial adoption was recorded as Indigo Protocol became the first project to leverage this feature, while technical collaboration from both the Cardano Foundation and Intersect has added further support to the initiative. These developments reflect Pyth’s ongoing ecosystem expansion, though price action has remained under broader selling pressure.

Persistent negative momentum as resistance limits rebounds

PYTH/USD is positioned below key technical markers on the working timeframe, with MA-20 at $0.0379, MA-50 at $0.0388, and MA-200 at $0.0510. The Ichimoku Kijun currently sits at $0.0385, establishing immediate resistance for intraday rebounds. Among oscillators, the MACD signals Sell, ADX is Neutral, and the RSI resides at 38, which is considered a Sell reading. The CCI indicates oversold conditions, while the Stoch RSI is Neutral. BBP also presents a Sell signal, with the Awesome Oscillator supporting ongoing negative momentum.

Range-bound trading favored as breakout risk remains low

Over the next 2–3 trading days, PYTH/USD is expected to trade within a volatility band of $0.0354 to $0.0420. The probability of an upward breakout above the $0.0385 resistance remains very low, estimated at less than 20%. The dominant scenario is continued consolidation within this range. Should price fall below the $0.0354 support region, the risk of further downside would increase substantially.

Anton Kharitonov, analyst at Traders Union, views the recent Pyth Network integration on Cardano as a solid example of tech-driven ecosystem growth. He notes that despite this progress, current price and momentum readings point to persistent technical weakness. Resistance at $0.0385 remains unbroken, keeping upside prospects limited. "With downside risks still active and no clear bullish signal, I see little reason to change a defensive stance here."

Previously it was reported that Pyth was experiencing persistent selling pressure and a generally bearish outlook. With the technical and sentiment landscape still skewed negative despite recent ecosystem developments, traders should closely monitor the $0.0354 support zone, as a breakdown below this level could trigger a deeper pullback in the coming sessions.

Source of Data: PYTH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.