Pyth Network Price Prediction: PYTH Pumps 21%, But Experts Say Consider This New AI Presale For 30X Gains

Blockchain
0

Join Our Telegram channel to stay up to date on breaking news coverage

The Pyth Network price is up 21% in the last 24 hours to trade for $0.4146 as of 10:40 a.m. EST time, with trading volume rising over 50%.

This is part of a recovery rally that spanned between November and the first week of January, with PYTH bulls trying to recover the lost ground. Meanwhile, amid the restored hype for the token, its staking function continues with stakers gaining participation in the Pyth Network governance.

The technical indicators support the bullish outlook for the Pyth Network price, with the Relative Strength Index (RSI) showing rising momentum. This is after executing a buy signal when it crossed above the signal line (yellow band) during the Friday, January 19 session.

The histogram bars of the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) are also flashing green in positive territory to show the bulls lead the market. In addition, the MACD continues to move above the signal line (orange band) following the bullish crossover on Friday.

Increased buyer momentum could see the Pyth Network price extend the gains and overcome the $0.4305 resistance level.  A strong move above this level could send the market value of PYTH token to $0.4991 or in highly bullish cases, reclaim the $0.5577 resistance level, last tested on November 24.

TradingView: PYTH/USDT 8-hour chart

Converse Case

On the flip side, if PYTH holders book early profits, the Pyth Network price could correct. The breakout above the upper band of the Bollinger indicator at $0.4008 is the first sign that a correction may be due. It shows that PYTH is already overbought, much like the RSI reading of 72 shows.

Enhanced seller momentum could see the Pyth Network price lose the support offered by the centerline of the Bollinger indicator at $0.3511. Lower, the altcoin’s price could test the lower band at $0.3014. A break and close below this level would invalidate the bullish thesis.

Amid the bullish but overbought status of the PYTH token, forward-looking investors might consider LPX as a promising alternative. It is one of analysts’ top picks for AI crypto coins with the potential for explosive growth.

Promising Alternatives To PYTH

LPX is the native crypto for the Launchpad XYZ ecosystem, an AI-powered investment platform that offers trading signals that give investors the chance to spot the next 30X trades ahead of time.

This consumer-oriented portal provides insights and analytics on all Web3 sectors, delivered in beautiful design with a humanized interface. This has prompted experts to rank it among the best Web 3 projects.

Its presale, which ends in less than three days, has raised over $2.6 million with investors currently able to buy LPX for $0.0445.

LPX holders can also stake their holdings. “If you stake an average of 10,000 LPX over 90 days you will get access to the following rewards: discount on trading fees, guaranteed access to NFT mint whitelists, guaranteed access to presales, access to partner discounts, beta p2e game releases, community prestige badges – and much more,” says the official website.

With time running out before launch, visit the Launchpad XYZ website to buy LPX in the presale here.

Also Read:

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 100% APY

Bitcoin Minetrix


Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

You might also like More from author
Leave A Reply

Your email address will not be published.