CandleFocus

PYTH Token Jumps 46% as Traders Target $0.60 and $0.90 Next 

Author: Content Editor
The price of PYTH token has experienced a significant increase of 46%, reaching $0.505, as traders take advantage of its recent bullish breakout. Analysts believe that the next potential targets for the token are $0.60 and $0.90, indicating a growing confidence in its future. This rise follows a breakout above a descending trendline that had previously limited upward movement. The market sentiment has shifted, with traders focusing on higher resistance levels and showing renewed optimism. The daily chart shows a cup-and-handle pattern, a bullish setup that suggests further price increases. The breakout point at $0.4667 now acts as a strong support level. The recent price action has demonstrated strong buying momentum, with the next price target at $0.60, seen as an immediate hurdle before potentially reaching $0.90. Analysts advise caution, as failing to hold above $0.4667 could lead to short-term declines, but the current bullish trend and increased trading activity indicate further gains may be possible. The broader cryptocurrency market's renewed interest may also benefit PYTH.

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