PYTH Technical Analysis Jan 29

PYTH is showing horizontal consolidation around 0.06$. Critical support at 0.0619$ and resistance at 0.0641$ levels will be decisive in the next 24-48 hours. Be cautious under BTC pressure.

Short-Term Market Outlook

PYTH is currently trading sideways at the 0.06$ level. In the last 24 hours, it fell 1.26% and traded in the 0.06$ – 0.07$ range, with volume remaining at a moderate 61.23M$. The short-term trend can be described as sideways; the price is holding above EMA20 (0.06$), which gives a mildly bullish signal, but Supertrend is giving a bearish signal pointing to the 0.07$ resistance. RSI at 55.05 is in the neutral-bullish zone, and the MACD histogram is balanced at the zero line. Volatility may remain low in the next 24-48 hours, but BTC’s downtrend is creating pressure on altcoins. In the MTF context, there are 12 strong levels across 1D/3D/1W timeframes: 1 support/4 resistances on 1D, 2 resistances on 3D, 2 supports/3 resistances on 1W. These levels are critical for intraday scalp opportunities. Short-term targets are 0.0789$ upside and 0.0426$ downside, but today’s focus is on the narrow range.

Intraday Critical Levels

Nearby Support Zones

Immediate supports: 0.0619$ (score: 91/100) – High-volume pivot; a break here triggers a fast drop. Second support 0.0586$ (score: 70/100) – Near EMA20, quick invalidation point. If it drops below these levels, keep stop-losses tight, as a sideways breakout could accelerate.

Nearby Resistance Zones

Immediate resistances: 0.0641$ (score: 87/100) – Critical breakout level, volume increase expected. Upper resistances 0.0737$ (score: 72/100) and 0.0789$ (score: 65/100). These resistances align with Supertrend; momentum is required for a breakout.

Momentum and Speed Analysis

Short-term momentum is neutral, but holding above EMA20 preserves the bullish bias. RSI at 55 is far from overbought, leaving room for buys, though MACD awaits a crossover at zero. Speed analysis shows low volatility; daily movement is limited to 5-7% per ATR. Even though Supertrend is bearish, staying above 0.0619$ could balance momentum. For intraday scalps, watch for acceleration above 0.0641$ and slowdown below 0.0619$. Volume increase (above 61M$) confirms breakouts; low volume carries high fakeout risk. For risk management, limit position size to 1-2% of capital, as short-term trades carry high loss potential.

Short-Term Scenarios

Upside Scenario

If 0.0641$ resistance breaks (with volume confirmation), fast momentum is captured, targeting 0.0737$ – 0.0789$. Trigger: Close above 0.0641$ + RSI above 60. Invalidation: Drop below 0.0619$. If BTC stays stable (above 88K$), probability is 40%; target 1:2 RR for scalps.

Downside Scenario

If 0.0619$ support breaks, bearish acceleration occurs, targeting 0.0586$. Trigger: Close below 0.0619$ + MACD negative crossover. Invalidation: Recovery above 0.0641$. With BTC downtrend (60% probability), support break is likely; tight stop at 0.0641$ for shorts.

Bitcoin Correlation

BTC at 88,108$ with -2.44% drop in downtrend, Supertrend bearish. Altcoins like PYTH are highly correlated with BTC (0.85+); if BTC loses 87,492$ support, PYTH tests 0.0619$ – 0.0586$. BTC resistances at 88,674$ – 89,595$ – 90,563$; a break here strengthens PYTH upside scenario. Caution on altcoins as BTC dominance rises: BTC below 87K$ is a sell signal for PYTH. Follow PYTH Spot Analysis and PYTH Futures Analysis.

Daily Summary and Watch Points

– Main watch: 0.0619$ support and 0.0641$ resistance.
– Momentum trigger: Volume 70M$+, extreme RSI.
– BTC impact: 87,492$ break triggers PYTH short.
– Risk: High short-term volatility, manage capital at 1% risk.
– No news, stay technical-focused. Sideways continuation likely today; await breakout.