Pyth Network (PYTH) Price Prediction 2024-2030: Will PYTH Price Hit $1 Soon?

• PYTH, backed by an influx of capital, could rally, and reach $1.62 in 2024.
• The price might trade at $2.94 in 2027 but it might hit $6.50 in 2028.
• The price prediction for 2030 is possible breakout toward $10.

PYTH is one of the breakout tokens of the last quarter of 2023. At the time of launch, it airdropped 255 million PYTH to $90,000 wallets. Also, the market cap at that time was only a little above $450 million.

But recently, that number had jumped close to $2 billion. However, the token has seen some highs and hit some lows since it became available to the public. For some, PYTH is massively undervalued, and its price could reach unimaginable peaks. 

However, there are others who do not believe in the long-term potential. Whichever side you pitch your tent, read this price prediction from 2024 to 2030.

Pyth Network (PYTH) Real Time Market Status

What is Pyth Network?

Pyth Network was launched in 2021 with a mission to bridge the gap between blockchain technology and decentralized finance. As a result, the network has been able to provide real-time data on prices of cryptocurrencies, commodities, forex, and equities with its low-latency blockchain.

Pyth allows the use of smart contracts and this has helped it in sourcing data directly from market makers, financial firms, and exchanges. With the framework that Pyth Network offers, it has been able to provide data about 380 assets across different industries. 

Apart from that, the project has been able to garner trust from the crypto market which led its Total Value Locked (TVL) to hit $1 billion at one point. Currently, according to DeFiLlama, that figure has increased to $5.18 billion.

Also, the solid infrastructure PYTH offers has ensured that over 250 decentralized applications have been launched on the protocol. To this effect, Pyth Network has become community-driven and the security of the network is regularly audited. 

This is to ensure that prices provided by the project are accurate. In addition, Pyth Network was originally designed for the Solana blockchain. But it has now expanded to several blockchains.  PYTH, the native token of the protocol has seen a surge in demand in recent days.

PYTH Current Market Status

PYTH’s price was $0.48 at the time of writing. This price was a 17.95% increase in the last seven days. Following the price in the upward direction was the 24-hour trading volume.

As of this writing, the trading volume was up to $239.52 million. This was a 27.81% increase, indicating that interest in PYTH has been impressive. Furthermore, the market cap of Pyth Network was $1.76 billion while its total supply was 9.99 billion tokens. Out of this total, only 3.62 billion were in circulation.

If you intend to buy PYTH, you can get it on the PYTH exchange itself, Binance, Kraken, Meteora VP, KuCoin, Gate,io among others.

Pyth Network (PYTH) Price Analysis

Price analysis is important to have an idea of targets cryptocurrency values can reach. As such, this section of the article is dedicated to analyzing PYTH’s price action in the short to long term. Here, you will learn about the price prediction from 2024 to 2030.

Pyth Network (PYTH) Price Analysis – Bollinger Bands

PYTH’s market structure on the 4-hour indicated a token that has been marred by selling pressure. But on June 1, it seemed sellers got exhausted, and bulls capitalized on this while helping PYTH’s price breakout.

This was also accompanied by rising volatility as indicated by the Bollinger Bands (BB). As of this writing, PYTH’s price was $0.48, suggesting that the value could extend further. 

However, the upper band of the indicator had tapped PYTH at the said point indicating the token was overbought. If traders decide to start booking profits, the price might slip to $0.42. But in a highly bullish situation, the token might extend to $0.60.

Pyth Network (PYTH) Price Analysis – Relative Strength Index (RSI)

On the 4-hour timeframe, the Relative Strength Index (RSI) showed that PYTH had initially become overbought. This was because the reading of the RSI was 75.18 before it recently dropped below 70.00.

The drop in the indicator suggested that the momentum was starting to get bearish. As such, the value of the cryptocurrency could fall.

Pyth Network (PYTH) Price Analysis – Moving Average Convergence Divergence

Despite the bearish signals mentioned above, the Moving Average Convergence Divergence (MACD) showed that the momentum remained bullish. With this position, PYTH could be gearing toward an price increase but there might be one condition attached to it.

This would only happen if the 12 EMA (blue) maintains its position over the 26 EMA (orange). If it happens to be the other way around, PYTH could drop to $0.44 or as low as $0.42.

Pyth Network (PYTH) Price Prediction 2024

For PYTH’s price prediction in 2024, CoinEdition analyzed the daily chart. On the chart, there seems to be a resurgence in the accumulation of the token. This was indicated by the Accumulation/Distribution (A/D) indicator.

If the A/D line continues to increase, PYTH’s price might also head in a similar direction. However, the supertrend indicator a sell signal at $0.51, suggesting that PYTH could be rejected at that point.

But if bulls break through the point, the price of the token could rise to $0.66 where there was a buy signal. If this thesis comes to pass, PYTH’s price might rally and hit $1.62 in 2024.

Pyth Network (PYTH) Price Prediction – Resistance and Support Levels 

Coin Edition was able to spot the support and resistance point using the 4-hour chart. For a start, there was support at $0.40 and PYTH later encountered resistance at $0.42. However, the resistance had been breached at press time, indicating that bulls were in control.

But another resistance appeared at $0.47 which PYTH seem to be struggling with. A rise above this part could key the token into the next area of interest at $0.56. However, if the price drops below the region, it could head back to $0.42.

Pyth Network (PYTH) Price Prediction 2025

One major thing that can help PYTH is its solid fundamentals. This is because many traders who only deal with traditional finance assets have been adopting cryptocurrencies. 

As such most of them would prefer a platform that encompasses both, and that is where PYTH comes in. As traction increases for the network, so will the price of the token jump. Therefore, PYTH can hit $2.30 in 2025.

Pyth Network (PYTH) Price Prediction 2026

Another factors that could influence PYTH’s price prediction is its links to Solana. According to many experts, Solana might be the next ETF after the U.S. SEC approved those of Bitcoin (BTC) and Ethereum (ETH). If this happen, tokens with a connection could also gain. For PYTH, its price could reach $4.82.

Pyth Network (PYTH) Price Prediction 2027

2027 might not be rosy for PYTH as holders of the token might decide to realized a chunk of the gains from past years. Should this be the case, PYTH’s price could drop and the value could be $2.94.

Pyth Network (PYTH) Price Prediction 2028

It might not take long for PYTH to bounce off its lows, and 2028 could be the ideal year it does that. From our projection, PYTH could be worth $6.50 in 2028.

Pyth Network (PYTH) Price Prediction 2029

PYTH’s price action might not be as intense in 2029. However, its price might still increase. But it could be minimal, leaving the prediction at $7.33.

Pyth Network (PYTH) Price Prediction 2030

A lot of financial institutions are expected to move the needle for PYTH. This is because of the integration the project has with the traditional sector. From our analysis, this could trigger a hike in liquidity for PYTH, thereby leading the price toward $10 in 2030.

Pyth Network (PYTH) Price Prediction 2040

In 2040, PYTH could continue to move higher. Howeve, while there might be a lot of extremely bullish predictions, the token could end up trading at $16.97.

Pyth Network (PYTH) Price Prediction 2050

The price of PYTH might continue to increase in 2050. Going by our outlook, the value could be higher than $20.

Conclusion

In conclusion, one cannot deny that Pyth is a great project, thanks to the way it facilitate trades for the crypto and traditional market. For the token, this could be a great deal for its price to increase. However, while there are other factors that could affect the price, most of it might hinge on adoption.

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