PYTH Price Alert: Mounting Profit-Taking Threatens to Wipe Out Recent Gains

PYTH bulls hit pause as profit-taking pressures intensify—recent rallies now hanging by a thread.

Market Mechanics Exposed

Traders lock in gains faster than you can say 'volatility,' triggering classic pullback patterns across exchanges. The token's momentum stalls just below previous resistance levels as sell orders pile up.

Technical Reality Check

Support levels get tested while volume indicators flash caution. Every rally attracts fresh selling—typical crypto market behavior where traders would rather secure profits than believe in 'fundamentals.'

Broader Implications

This isn't just about PYTH—it's about how crypto markets still operate like a casino where everyone watches the door instead of the cards. Short-term thinking continues to dominate despite all the 'long-term vision' talk from projects.

Next moves depend entirely on whether buyers step back in or let gravity do its thing. Either way, someone's getting liquidated—because in crypto, even profits have expiration dates.

PYTH price decline

While the U.S. government’s decision to tap into Pyth Network and Chainlink to distribute macroeconomic data on blockchain helped bulls explode, traders are taking profits after PYTH reached its highest price in six months.

The decline mirrors the retreat for Bitcoin (BTC) and Ethereum (ETH), with BTC price dipping below a key psychological level to hit lows of $107,300.

Pyth Network’s declines have cut weekly gains to about 41%, while the steady sell-off threatens to wipe the upside seen when price went vertical from lows of $0.11 on Aug. 28. 

What next for PYTH price?

Although bulls can still target the $0.30 level they coveted as price jumped by more than 100%, analysts say the broader market’s downturn could extend into new lows in September. 

In a market outlook report on Monday, analysts at Bitfinex noted altcoins have stagnated after a recent uptick, and a dip into a cyclical floor is likely before prices explode again in the fourth quarter. 

“What is emerging is an Altcoin market cap that is stagnating, with any movement in alts signalling capital rotation rather than expansion. With ETF inflows seasonally muted and speculative excess flushed, September could mark the cyclical low point before structural drivers reassert for a Q4 recovery,” Bitifinex noted.

PYTH traded at an all-time peak of $1.20 in March, 2024.