Pyth Network Price Prediction: PYTH Up 42%, But Analysts Say This Solana Meme Coin Could Be the Best Cryptocurrency to Buy Right Now.

adminFebruary 28, 2024

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Pyth Network price has surged 42% in the last 24 hours. Traded at $0.7417 As of 4:50 a.m. ET, trading volume had increased 747% to $533 million.

This was achieved by integrating the Pyth Price Feed into the Hedera Network, as the Pyth Network collaborated with the HBAR Foundation, which is dedicated to fostering the expansion and development of the Hedera ecosystem.

Today we @HBAR_Foundation To get all 400+ Pyth price feeds @girl name 🔮
HLiquity is Hedera’s first DeFi application powered by Pyth.
Learn more about this release below.
ℹ️ About HBAR Foundation
HBAR is… pic.twitter.com/dRbFRwgpBG
— Pyth Network 🔮 (@PythNetwork) February 26, 2024

Pyth Network says these price feeds will allow Hedera developers to create secure DeFi applications. Hedera’s individuals can also easily access up-to-date prices through Pyth Price Feeds’ Pull Oracle design.

Pyth Network price maintains bullish momentum above the bullish pennant

Paice Network Price

PYTHUSDT Analysis by Tradingview

Pyth Network price is showing a gradual upward trend, which indicates a bullish uptrend from the support level of $0.2454.

However, the bulls were rejected at $0.6778, and a scuffle broke out between sellers and buyers as the price formed a bullish pennant pattern, indicating a continuation of the bullish trend. Resiliently, PYTH traders took advantage of the pennant at the support level of $0.5247, pushing the price up to $0.8151.

Technical indicators also support the bullish momentum pushing the price above the 50-day and 200-day simple moving averages (SMAs). The moving average intersection at $0.3228 confirms the overall bullish momentum in the Pyth Network price.

The Relative Strength Index (RSI) shows a brief decline but is trending upward from 72, which is in overbought territory at 70. A bounce from the mid-line level of 50 could keep RSI in overbought territory and maintain a bullish outlook.

Pyth Network price maintains its usual bullish bias

Despite the decline from the high of $0.8198, the Pyth Network price maintained its overall bullish outlook. If momentum continues, the bulls could reclaim the highs. However, a further break above this level would allow the bulls to take profits at the $0.9460 level.

Conversely, bears could sustain the current correction, leading prices lower and forcing bulls to seek refuge at the $0.6825 support zone, which coincides with the upper boundary of the pennant.

As traders await reliable trading signals, investors are rushing to buy SMOG, which is making waves in the cryptocurrency industry with what promises to be the largest airdrop launch in history.

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Profile link 🔗 pic.twitter.com/vsn4p5cSF4
— Smog (@SMOGToken) February 8, 2024

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To participate in the Smog Airdrop, you can earn points by purchasing and storing Smog tokens in your wallet. Alternatively, you can join Smog’s social media managed by Zealy. This involves taking on and completing tasks through quests to earn points.

With a community of over 28,800 holders and over 65,000 members across various platforms, the token’s market capitalization has grown to $42 million. The project is currently preparing for listing on further major exchanges, presenting an ideal moment to participate.

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— Smog (@SMOGToken) February 21, 2024