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๐ง๐ $PYTH between adoption news and Technical Analysis
$PYTH recently experienced a significant increase following the news of the U.S. government's adoption of the @PythNetwork for data verification, which supported a strong buying wave that raised the price from around $0.08 to levels of $0.26 before it retraced to currently settle near $0.16.
๐ Technically:
The price of PYTH is currently at $0.161 and is moving within an important support area between $0.154 - $0.143, which is a potential rebound zone. If the price maintains above support, we are likely to see a gradual rise.
Near-term ascent targets:
0.170$ (First Resistance)
0.196$
It could then extend to $0.230 โ $0.283 if momentum increases.
But breaking below $0.143 could negate the positive scenario and open the door for deeper declines.
In summary, staying above $0.154 is positive, and a breakout above $0.170 provides a signal for a move towards higher targets.
#PythRoadmap # Cryptomaxx