The PYTH price is trading at $0.1179 despite broader bearish sentiment.
A rounding top pattern signals potential weakness below the $0.115 neckline.
The RSI shows neutrality, while the MACD hints at early bullish signals.
Open interest and sentiment reflect cautious positioning by traders.
Pyth Network (PYTH) has managed to hold its ground despite the broader market showing bearish tendencies. Over the last 24 hours, the token has remained almost stable, although its weekly performance shows a 4.62% decline.
At the time of writing, PYTH is trading at $0.1179 with a 24-hour volume of $29.58 million, reflecting a 2.62% increase. Its market capitalization stands at $678.51 million, showing resilience amid current volatility.
The token’s performance highlights stability in the short term, even as technical patterns suggest a possible downside risk if critical support levels are broken. Traders remain cautious, as price action sits at an inflection point between continuation and recovery.
Also Read: PYTH Network Bottom In? Why $0.35 Could Be Next!
PYTH Technical Setup and Resistance Zones
On the 4H chart, PYTH is forming a rounding top, a bearish reversal pattern often seen after upward moves. The neckline sits near $0.115, serving as a decisive support level. A confirmed break below this level could open the door toward lower targets at $0.108 and $0.105.
Currently, PYTH hovers just below a strong resistance cluster at $0.122–$0.123, marked by the 50 SMA and 9 EMA. This area has consistently rejected upward attempts, reinforcing its importance. Unless bulls manage to reclaim $0.125 with convincing volume, the prevailing setup will continue to favor the downside.
If buyers succeed in flipping this level, the next upside targets lie at $0.1250, followed by $0.1300 and $0.1350. Reclaiming these zones would signal renewed strength and could invalidate the broader bearish structure.
RSI and MACD Suggest Mixed Momentum
Momentum indicators paint a mixed picture for traders. The Relative Strength Index currently sits at 47.06, placing it firmly in the neutral zone. The RSI shows no strong dominance; its slight upward tilt toward the mid-level could suggest growing interest from buyers.
However, the MACD provides a different signal. A recent bullish crossover has emerged, supported by green histogram bars. This indicates that momentum could shift toward buyers if the trend is sustained. A breakout above $0.12 with volume would confirm this view and weaken the bearish narrative.
Derivatives Market Signals Caution
According to the information from Coinglass, PYTH’s open interest has gone down by 1.33% to $40.29 million, showing reduced leverage and dwindling conviction in the minds of the traders. It shows a wait-and-see approach, as traders are still waiting for a decisive trend so that they can invest firmly.
However, the OI-weighted funding rate at 0.0044% indicates persistent bearish pressure within the market. The equality of bullish and bearish leverage reflects today’s indecision.
Pyth Network (PYTH) holds near $0.1179 despite market weakness. A rounding top signals risk below $0.115, with downside targets at $0.108–$0.105. However, reclaiming $0.125 could shift momentum, unlocking higher targets at $0.130 and $0.135.
Also Read: Grayscale Investments Unveils Pyth Network Trust Amid Growing Crypto Fund Portfolio
