Robinhood Announces New Listing of PYTH Coin
- New Listing Announcement: Robinhood has announced the listing of PYTH Coin today, which, despite hosting fewer than 100 altcoins, highlights its ongoing expansion in the cryptocurrency sector and attracts investor attention.
- Market Value Insight: PYTH Coin is traded on mainstream exchanges like Binance, boasting a market value of $338 million with over half of its supply in circulation, indicating a strong market acceptance.
- Competitive Landscape: Operating as an oracle provider, Pyth Network competes with Chainlink and shows notable potential in the growing REAL World Asset (RWA) sector, offering real-time market data across 380 categories, thereby enhancing its industry position.
- Market Reaction Observation: Although there was no significant price increase following the announcement, Robinhood's support could have a more substantial impact in a rising market environment, reflecting its strategic importance in cryptocurrency investments.
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Technical Analysis for PYTH
Technical Sentiment Analysis for Pyth Network (PYTH) As of , Pyth Network (PYTH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for PYTH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, PYTH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Pyth Network (PYTH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0125 | 0.0242 | 0.0361 | 0.0478 | 0.0597 | 0.0714 | 0.0833 |
| Fibonacci | 0.0242 | 0.0333 | 0.0388 | 0.0478 | 0.0569 | 0.0624 | 0.0714 |
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