PYTH Technical Analysis Feb 14

PYTH, with a strong 25.15% rise in the last 24 hours, is gaining momentum at the RSI 60.58 level, giving bullish signals with MACD’s positive histogram; the short-term position above EMA20 supports the bullish trend.

Trend Status and Momentum Analysis

PYTH is currently trading at the 0.06 dollar level and exhibited an impressive 25.15% rise in the last 24 hours. The daily range occurred between 0.05-0.06 dollars, while volume reached 108.97 million dollars, showing strong buying interest behind this move. Although the overall trend can be described as sideways, short-term momentum indicators have turned bullish. RSI at 60.58 is positioned in the neutral-bullish zone, while MACD’s positive histogram confirms acceleration. Although the Supertrend indicator still gives a bearish signal, the price settling above EMA20 (0.05 dollars) appears to have increased short-term trend strength. This configuration carries potential for a breakout toward the upper limit of the sideways trend, but caution is needed without volume confirmation. The confluence of momentum oscillators, especially the harmony of RSI and MACD, indicates that buyers have taken control.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI (14) is currently at 60.58, and this value shows that momentum is advancing healthily upward. No clear regular bullish divergence is observed in RSI with the recent price rise; on the contrary, the price jump from 0.05 dollars to 0.06 dollars carried RSI above 50, confirming synchronized momentum. A hidden bullish divergence may have started forming in short-term charts, as price makes new highs while RSI recovers from lower levels providing support. This situation is a positive signal for trend continuation; however, overbought risk may increase as RSI approaches 70. The absence of divergence on the daily timeframe suggests the move is organic and not a speculative explosion.

Overbought/Oversold Regions

RSI at 60.58 is far from overbought (70+) or oversold (30-) regions, meaning there is plenty of room for momentum. This level shows buyer dominance while indicating reduced selling pressure. Previously stuck in the 40-50 band, RSI’s move to the 60s with the recent rise emphasizes strengthening momentum and could herald a potential trend change. If RSI breaks above 65, short-term buying momentum may accelerate further, but a drop below 50 could re-engage the sideways trend.

MACD Signals and Histogram Dynamics

The MACD indicator is currently in a bullish position, and the histogram is expanding with positive values. While the signal line remains below the MACD line, the growing histogram bars clearly demonstrate that bullish momentum is gaining speed. The price increase in the last 24 hours carried the MACD histogram above the zero line, confirming strengthening after the crossover. This dynamic shows increasing buyer volume and receding sellers; however, histogram contraction could signal profit-taking risk. The MACD zero line crossover on the daily chart suggests the sideways trend has broken bullish, providing short-term optimism for PYTH.

EMA Systems and Trend Strength

Short-Term EMAs

The price is trading above the EMA20 (0.05 dollars) level, confirming the short-term trend is bullish. In the EMA ribbon, short-term lines (EMA9, EMA20) are expanding upward, increasing momentum strength. The price’s proximity to EMA20 could form support for a potential pullback; if held, the rise can continue.

Medium/Long-Term EMA Supports

Medium-term EMA50 and EMA100 levels have not yet been tested, but price persistence above EMA20 could align the ribbon bullishly. There is strong support around the long-term EMA200 (approximately 0.04-0.05 band), but in the current sideways trend, medium-term EMAs may act as resistance. Strengthening EMA dynamics, combined with volume, is ideal for measuring trend strength; the current configuration favors short-term bulls.

Bitcoin Correlation

Bitcoin shows a slight 1.21% rise at 69,838 dollars but is in a general downtrend with Supertrend giving a bearish signal. BTC’s main supports are at 68,796, 65,415, and 60,000 dollars; resistances are at 71,248, 75,157, and 78,145 dollars. As altcoins like PYTH are highly correlated with BTC, a drop below 68,796 in BTC could increase selling pressure in altcoins. If BTC dominance rises, PYTH momentum may weaken; closely monitor BTC levels for PYTH Spot Analysis and PYTH Futures Analysis. If BTC recovers, PYTH’s 0.0628 resistance could be tested.

Momentum Outcome and Expectations

Momentum indicators are giving short-term bullish signals for PYTH: healthy rise with RSI 60.58, MACD positive histogram expansion, and position above EMA20 supporting trend strength. Volume at 108.97 million dollars confirms the rise, while MTF confluence offers 9 strong levels (1D: 2R, 3D: 2S/2R, 1W: 2S/2R). Main resistances at 0.0628 (89/100) and 0.0673 (75/100); on breakout, 0.1005 can be targeted, but caution due to BTC downtrend and Supertrend bearish. In a bearish scenario, 0.0137 level is distant support. If volume confirmation and RSI/MACD confluence continue, momentum stays positive, sideways trend can break. Market is volatile; follow the levels.