Is PYTH Price Heading For A Recovery
From a technical perspective, **PYTH's price** has moved above the 20-day and 50-day EMAs, indicating a short-term positive outlook. However, to fully transition to a bullish trend, it must overcome the 200-day EMA hurdle. Currently, the price is 19% below the 200-day EMA. If the bulls gain momentum, this could reverse the bearish trend.
The daily chart shows growing bullish activity, but confidence will solidify only after a successful change of character (choCh) above the $0.4100 level. Breaking and sustaining above this level could confirm a positive trend shift, allowing **PYTH price** to aim for higher levels. However, strong bullish support at lower levels is still necessary.
Resistance levels for a bullish move are at $0.4100 and $0.5000. If bullish momentum falters, the demand zone will act as support, and consolidation may continue.
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