Pyth Network Coin (PYTH) Review and Price Analysis

Pyth provides real-time data services for decentralized finance (DeFi) exchanges and lending protocols. The project also offers data services for blockchain-based games and NFTs. It is an oracle solution that operates on the Solana network. Oracle solutions act as intermediaries, allowing smart contracts to access data from outside the blockchain.

Technically, the most critical support level I’m monitoring is $0.3845. If the price closes below this level on higher time frames, I consider the possibility of it seeking lower levels. With the news of the Ledger hack, I believe it has touched a significant area, clearing the previous wicks. The first intermediate resistance level I’m tracking is $0.4361. As the main resistance, I’m following $0.4630.

The analyses shared here are not investment advice; however, they are considered support and resistance levels that may provide short to medium-term trading opportunities in the market. The responsibility for taking trades and managing risks lies with the user. It is strongly recommended to use stop loss in the trades shared.

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