PYTH at a Make-or-Break Zone? Bulls Defend, But Momentum Weakens

Question

PYTH remains locked in a descending channel with lower highs and lows since early 2024’s $1.16 peak.

Weekly support at $0.0810, marked as BOS, shows buyer interest but trend remains bearish until a breakout confirms.

MACD and RSI on 4H charts remain bearish, confirming weak momentum and dominance of sellers below $0.1300 resistance.

Pyth Network (PYTH) remains in a prolonged downtrend, but the $0.0810 support zone is attracting attention. A confirmed hold here could offer a reversal, though momentum indicators remain bearish across all timeframes.

Weekly Structure: Lower Lows Dominate the Chart

According to analyst CryptoPatel on X, PYTH has been locked inside a descending parallel channel since peaking at $1.16 earlier in 2024. Price has consistently formed lower highs and lower lows. This confirms the dominance of sellers in the weekly trend.

The chart identifies $0.0810 as a crucial support zone, labeled BOS (Break of Structure), which also serves as a key demand area. Price tested this zone twice and bounced, indicating that buyers are not fully absent.

However, the rejection near $0.2117—marked ChoCh (Change of Character)—confirms failed bullish attempts. The weekly candle still trades within the lower half of the channel, and red candles remain dominant. Volume on this candle is significant, yet directionless.

Short-Term Chart Aligns With Long-Term Weakness

In the 4-hour timeframe, the bearish picture remains intact. Price action continues forming lower highs, failing to sustain above $0.1300. Each rally fades quickly, followed by more intense selling pressure.

The MACD indicator shows the MACD line at -0.0042 and the signal line at -0.0035. Both remain below the zero line. The bearish crossover on July 29 coincided with the latest rejection at $0.1350.

RSI is currently around 33.74, signaling weakening buyer strength. The RSI-based MA also confirms lack of upward pressure. No bullish divergence appears, keeping momentum skewed to the downside.

Critical Levels Ahead: Reversal or Breakdown?

Volume patterns support the bearish trend. Selling spikes on failed rallies confirm a strong distribution phase since late July. Moreover, the $0.0810–$0.110 zone marks the current accumulation range.

If price breaks below $0.0810, another lower low is likely. On the upside, reclaiming $0.1350 could trigger short-covering toward $0.2117. For now, bears remain in control.

Unless a confirmed breakout occurs, both structure and sentiment suggest PYTH is still inside a markdown phase.

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