Recently, I’ve been seeing quite a few established coins that are still worth keeping an eye on. $PYTH is one of them, and it’s been performing very well!
There may still be opportunities on a pullback. On October 8, Pyth officially announced a new mechanism: 100% of the DAO’s product revenue will be used to buy PYTH. Annualized recurring revenue for September had already reached $11.5 million, up 86% quarter over quarter.
The price has risen quite a bit since the positive news came out, but the main uptrend hasn’t really begun yet!
The reason I’m bullish is simple: oracles are essential infrastructure for on-chain finance. If institutions, trading platforms, and prediction markets continue to use Pyth, there’s room for revenue to grow. The revenue-funded buyback mechanism also gives the token a new source of demand.
Also, EMA5 is currently around 0.0814 and EMA30 around 0.0800. The short-term moving averages have formed a bullish structure, which is why the price has held above 0.08. The trend is still relatively strong.
Watch for short-term support around 0.083–0.085,
consider scaling in around 0.078–0.080,
and keep 0.073–0.076 as a deeper pullback zone for adding to the position.
If there’s no pullback, a high-volume breakout above 0.0907–0.091 followed by a hold could be a chance to chase some of the move.
A break above 0.091 could signal acceleration; if it falls below 0.08, reassess.
There may still be opportunities on a pullback. On October 8, Pyth officially announced a new mechanism: 100% of the DAO’s product revenue will be used to buy PYTH. Annualized recurring revenue for September had already reached $11.5 million, up 86% quarter over quarter.
The price has risen quite a bit since the positive news came out, but the main uptrend hasn’t really begun yet!
The reason I’m bullish is simple: oracles are essential infrastructure for on-chain finance. If institutions, trading platforms, and prediction markets continue to use Pyth, there’s room for revenue to grow. The revenue-funded buyback mechanism also gives the token a new source of demand.
Also, EMA5 is currently around 0.0814 and EMA30 around 0.0800. The short-term moving averages have formed a bullish structure, which is why the price has held above 0.08. The trend is still relatively strong.
Watch for short-term support around 0.083–0.085,
consider scaling in around 0.078–0.080,
and keep 0.073–0.076 as a deeper pullback zone for adding to the position.
If there’s no pullback, a high-volume breakout above 0.0907–0.091 followed by a hold could be a chance to chase some of the move.
A break above 0.091 could signal acceleration; if it falls below 0.08, reassess.