In August, PYTH Network experienced a rally of more than 100%. Since then, the price of the cryptocurrency has entered a corrective phase, gradually creating conditions that could be seen as more favorable for participants who missed the earlier impulsive move, or for existing holders considering additional exposure.

Pyth Network technical analysis

PYTHUSD - 1 Day Time Frame

The basis of any trading framework is identifying the prevailing trend. Analyzing market structures often provides clarity, as they are defined by precise levels rather than subjective interpretation.

For PYTH Network, bearish structures had dominated since the beginning of the year. That changed in August, when the sharp rally resulted in a close above the lower high of the bearish structure on the daily timeframe, signaling a structural shift in favor of buyers.

Once a trend is established, the next step is to define an entry setup that specifies entry levels, Stop Loss, and Take Profit. Within a bullish outlook, setups forming in the discount zone—below the 0.5 Fibonacci retracement of the external structure—tend to offer more favorable conditions. At present, PYTH Network is positioned within this zone.

Pyth Network price target

In recent sessions, the price has already completed a sweep of Sell-Side Liquidity, marking the first part of a potential setup. The second requirement is a clear shift in price delivery. This could be confirmed if the price closes decisively above the last resistance zone, highlighted in orange on the attached chart. Such a move would turn resistance into support, strengthening the bullish case.

If confirmed, the next upside targets could be set at Buy-Side Liquidity levels, with further objectives at the psychological thresholds of $0.40 and $0.55. Until then, the correction phase remains in effect, and confirmation of price delivery will be the key factor to monitor.