Pyth trades lower as continued selling outpaces buyers in the near term

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Pyth drops 9.19% to $0.0346 today

Highlights

PYTH/USD remains in a bearish structure across all timeframes, trading below key moving averages and technical levels.
Technical momentum indicators strongly signal continued selling pressure, with multiple oscillators showing oversold conditions and negative intraday momentum.
Short-term price action is likely to remain rangebound between $0.0332 and $0.036, with high probability of a further breakdown if support fails.

Seller dominance persists as momentum and oscillators signal weakness

On the technical front, PYTH/USD is positioned below the MA-20 ($0.0367) and MA-50 ($0.0368) on the hourly chart, and beneath the MA-200 ($0.0501) on the daily chart. The Ichimoku Kijun at $0.0364 now acts as immediate resistance. Momentum metrics remain negative: MACD signals Sell, ADX is neutral, and RSI registers 30.52 (Sell). Both Stoch RSI and CCI are oversold, revealing exhaustion among sellers, while BBP and the Awesome Oscillator also point downward, confirming intraday seller dominance.

Downside risk elevated as range-bound action likely to continue

In the short term, PYTH is expected to remain within a volatility band of $0.0332 to $0.036. The probability of an upward move is very low, while the likelihood of further downside is high under current conditions. Baseline expectation is a sideways consolidation in this range, while a break below $0.0332 would likely extend the existing downtrend; an upward scenario requires a move above the Ichimoku Kijun resistance.

Anton Kharitonov, senior analyst at Traders Union, sees continued weakness in PYTH as negative momentum persists below key moving averages and resistance levels. The absence of positive news or supporting fundamentals adds to a defensive outlook. Technical indicators confirm dominance by sellers and low probability of a quick reversal. "Until PYTH reclaims resistance around $0.0364, I remain cautious and expect further consolidation or downside risk."

Previously it was reported that Pyth continued to exhibit near-term weakness and persistent bearish momentum despite ecosystem developments. The latest technicals reinforce this outlook, with heightened downside risk if support at $0.0332 fails, making vigilance around this level essential for traders monitoring further declines.

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.