Pyth Network Don Secure US GDP Data On-Chain, PYTH Don Surge 91%
Pyth Network PYTH token rise sharply afta di US BEA confirm plan to publish on-chain GDP and other macro data via blockchain oracles on nine networks. Pyth Network and Chainlink dem choose as official data feeds. After di announcement, PYTH jump 91% to $0.22, get 95% gain over seven days, and show $2.1 billion 24hr volume, dey outperform Chainlink. Technicals show bullish MACD divergence, golden cross in short-term moving averages, and rising RSI, while cumulative volume delta turn positive for futures. But smart money sell $166,000 in PYTH, mean say dem dey take profit. Traders suppose watch support at $0.15 and $0.13 and resistance at $0.21 and $0.24 as volatility dey expected as on-chain data adoption dey increase.
Bullish
Di US Department of Commerce pick Pyth Network to distribute official macroeconomic data on-chain don make demand for PYTH token high well well. The price jump of 91%, high volume plus bullish technical signs like MACD divergence, moving average golden cross, and positive volume delta show strong short-term momentum. Smart money wey dey take profit mean say near-term wahala fit land, but the strategic partnership still dey support long-term growth as more people dey use on-chain data. Overall, the news good for PYTH token performance.