Introduction

Pyth Network (PYTH) is a decentralized, oracle network designed to bring high-fidelity and real-time financial data onto the blockchain. As a data bridge between traditional finance and decentralized finance (DeFi), Pyth aggregates data from trusted, high-frequency sources. Its innovative role as a data oracle enables smart contracts and applications to access accurate, real-time market data, which is essential for use cases such as trading, derivatives, and other DeFi applications.

PYTH Current Price State

As of November, 2024, Pyth Network’s price is approximately $0.3249 USD approximately 27.31 INR. The daily chart shows a sideways pattern with strong support at $0.2182, indicating a consolidation phase. The daily Relative Strength Index (RSI) at 28 suggests an oversold state, signalling a potential for reversal if demand increases. The need for reliable oracles in the DeFi space positions PYTH as a potentially valuable asset.

PYTH Circulating, Total and Max Supply

  • Circulating Supply: 3.62 billion PYTH
  • Total Supply: 10 billion PYTH
  • Max Supply: No hard cap on max supply

PYTH Price Prediction Based on Technical Analysis

Pyth Network Chart
Pyth Network (PYTH) Price Prediction & Forecast for 2024 to 2030

The technical indicators suggest that PYTH may see an upward trend if it can sustain its current support level of $0.2182. With an RSI of 28, PYTH shows oversold conditions, making a reversal possible if demand intensifies. A breakout above its range may lead to resistance testing, while failure to hold support could push prices lower. Given the current trend, PYTH may remain stable within its range until a clear breakout or breakdown takes place.

PYTH Price Action

On the daily chart, PYTH maintains a strong support level at $0.2182 and shows a sideways movement trend. A move above $0.33 could see PYTH break out from consolidation, while a fall below support may result in further declines. Based on market sentiment and RSI, a short-term rally could materialize if buying pressure grows. However, if consolidation persists, PYTH may continue to trade within its current range.

PYTH Fundamentals for Long-Term Price Prediction

AspectDetailsEvaluation
FounderPyth Data Association, supported by major finance firms like Jump CryptoBacked by experienced institutions
TokenomicsTotal supply is capped at 10 billion, but since there isn’t a fixed maximum limit, additional tokens could potentially be issued in the future. 
Potential inflationary pressures might lower the token’s value.
Circulating Supply3.62 billion PYTH in circulation (approx.)Limited supply fosters scarcity
WhitepaperFocus on real-time data for DeFiDetailed and practical roadmap
TeamExperts in data and blockchain technologyStrong technical and financial expertise
ProjectDecentralized oracle network for DeFiEssential for secure smart contracts
FundingBacked by major players in financeStable financial foundation
Blockchain Use CaseOracle network for real-time data feedsHigh relevance in DeFi
RoadmapTransparent with growth-oriented milestonesClear path for development
VolumeSteady liquidityReliable trading environment

PYTH Price Targets from 2024 to 2030

YearBearish Case (USD)Bullish Case (USD)Remarks
2024$0.22$0.50Dependent on a breakout from the sideways trend
2025$0.30$0.80Expanding use cases and strategic partnerships
2026$0.50$1.20Increasing demand for real-time data oracles
2027$0.80$1.80Adoption in DeFi and Web3 ecosystems
2028$1.00$2.50DeFi maturation and increased financial integration
2029$1.50$3.50Broader use of decentralized data feeds
2030$2.00$5.00Full integration in global financial systems

Pyth Price Prediction for 2024

As Pyth seeks to break out of its sideways trend, it may remain within the $0.22 to $0.50 range, with minor rallies supported by increased DeFi adoption.

Pyth Price Prediction for 2025

With expanding use cases, Pyth could trade between $0.30 and $0.80, driven by partnerships and broader adoption of oracles in DeFi.

Pyth Price Prediction for 2026

As demand for decentralized oracles grows, Pyth’s price may reach between $0.50 and $1.20, benefiting from increased interoperability and reliability.

Pyth Price Prediction for 2027

Pyth’s use case in the DeFi space could further mature, with potential prices between $1.00 and $2.50 as the market for oracles becomes essential for financial applications.

Pyth Price Prediction for 2028

With integration into financial markets, Pyth could see a price range of $1.50 to $3.50 as institutional interest grows in decentralized data feeds.

Pyth Price Prediction for 2029

Achieving widespread integration across financial and DeFi platforms, Pyth may reach between $2.00 and $5.00, establishing itself as a foundational DeFi infrastructure asset.

Conclusion

Pyth Network’s future trajectory will depend on its ability to meet the growing demand for reliable data oracles and support DeFi’s growth. With strong fundamentals and support from reputable financial institutions, Pyth Network has a favorable long-term outlook.

Athul Santhosh
Quant Analyst

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