PYTH Faces Market Jitters as Death Cross Threatens—Just What Crypto Needed, Another ’Technical’ Panic

Another day, another ominous chart pattern sending crypto traders into a frenzy. PYTH—the oracle network token that’s been riding DeFi’s coattails—now stares down a potential death cross. Cue the dramatic gasps.

For the uninitiated: A death cross occurs when a 50-day moving average slips below the 200-day average. Traders treat it like a four-alarm fire, even though half of them couldn’t explain why without Googling. PYTH’s price? Already wobbling like a sleep-deprived dev at a hackathon.

Will it crash? Maybe. Or maybe whales will shrug and pump it back up—because nothing makes sense in a market where ’fundamentals’ are just an inside joke. Either way, grab popcorn. Crypto’s favorite pastime—watching leverage get liquidated—might get a fresh sequel.

PYTH eyes drop to $0.10 support level

Although PYTH price has recovered slightly since the unlock event, there is a risk that the PYTH price will continue downward in the next few weeks as a death cross pattern nears on the 4-hour/USDT chart.

A death cross forms when the 200-day and 50-day Exponential Moving Averages cross each other while pointing downwards. 

In Pyth Network’s case, the spread between the two moving averages has narrowed in the past few months. Its 200-day MA  was at $0.1552, while the 50-day was at $0.1589. 

A death cross often leads to a substantial decline over time. For example, the last time that PYTH price formed this pattern was in December last year, and the coin dropped by over 76%.

On top of that, the Supertrend indicator has also flashed a red signal, adding to the bearish outlook.

If the death cross is validated, PYTH could continue falling in the NEAR term, with $0.10 being the next key level to watch as both a psychological support and its lowest point from April.

That said, PYTH’s Relative Strength Index is currently sitting at 30, which is right near the oversold zone. This might trigger a short-term relief rally as buyers look to buy the dip, but any recovery could be temporary unless the broader trend shifts.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.