bullish

Chainlink

Time

Higher

Pyth Network

<ul class="wp-block-list">
 <li>Pyth Network surpasses Chainlink, achieving $36B in transaction volume over 30 days.</li>  
 <li>Recent breakout signals bullish momentum; analysts eye $0.5010 as a key resistance level.</li>  
 <li>Rising social dominance and open interest indicate strong investor interest and potential gains.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/pyth-macro-targets-set-for-3-15-and-6/" rel="noopener noreferrer nofollow">Pyth Network</a> recently hit a major milestone, achieving $36 billion in transaction volume over 30 days. This impressive figure positions Pyth as a strong competitor, now surpassing Chainlink.</p>  
<p>With increased adoption of the innovative pull-based Oracle model, especially in decentralized finance (DeFi), Pyth could see significant growth. Is this the right time for investors to jump in?</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/DuncanPetti/status/1852054918435422596?t=etldGG3eXPgcpB_OEc7vTA&amp;s=19
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</figure>  
<h2 class="wp-block-heading" id="h-price-action-signs-of-a-potential-breakout">Price Action: Signs of a Potential Breakout</h2>  
<p>Recent price movements show a breakout from a well-defined <a href="https://www.babypips.com/forexpedia/ascending-channel" rel="noopener noreferrer nofollow">ascending channel</a>. This shift indicates a significant change in momentum, hinting that upward pressure may continue. Analysts see $0.5010 as a key resistance level. If Pyth can break through this barrier, a wave of bullish sentiment may follow.</p>  
<p>Currently, Pyth trades at $0.4038, reflecting a 5.63% increase in the last 24 hours. This momentum suggests a chance to capture more market share and attract new investors. Are traders witnessing the start of a breakout?</p>  
<h2 class="wp-block-heading" id="h-technical-indicators-insights-into-market-trends">Technical Indicators: Insights into Market Trends</h2>  
<p><a href="https://cryptonewsland.com/cryptos-set-for-a-bullish-turn-according-to-key-technical-indicators/" rel="noopener noreferrer nofollow">Technical indicators</a> reveal interesting insights. The Relative Strength Index currently sits at 63.89. This level suggests a movement toward overbought territory, which may lead to a price correction. Still, momentum looks strong enough to push prices higher.</p>  
<p>The MACD indicator also shows bullish convergence, indicating that recent price trends align with continued upward movement. Together, these indicators offer a balanced view. Caution is necessary, but the overall trend remains positive.</p>  
<p>Pyth's social dominance is another point of interest. The current figure stands at 0.0994%. This metric shows rising community interest and engagement, both crucial for driving future price movements. Higher social dominance often correlates with increased trading volume, which strengthens Pyth’s market presence.</p>  
<p>Additionally, open interest has surged by 30.77%, reaching $66.39 million. This increase signals that traders are optimistic about price movements, positioning for potential gains. A rising <a href="https://www.cmegroup.com/education/courses/introduction-to-futures/open-interest.html" rel="noopener noreferrer nofollow">open interest</a> typically means more traders are entering the market, which enhances price stability and growth.</p>  
<p>Recent achievements and technical indicators suggest a bullish trend for Pyth Network. With soaring transaction volume, a breakout from the ascending channel, and increasing social dominance, the future looks promising. Traders should keep a close eye on Pyth. Breaking key resistance levels could solidify this platform as a leading Oracle provider, presenting exciting opportunities for investors.</p>   
<p>The post <a href="https://cryptonewsland.com/pyth-networks-trading-volume-surpasses-chainlinks/" rel="noopener noreferrer nofollow">Pyth Network Surpasses Chainlink with $36B in Trading Volume: Time to Buy?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Pyth Network Surpasses Chainlink with $36B in Trading Volume: Time to Buy?

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