Date: Fri, April 25, 2025 | 07:20 AM GMT
After a brutal first quarter that saw Ethereum (ETH) drop by 45%, the crypto market is finally starting to show signs of recovery. ETH has bounced back with a 12% gain over the past week, and this has sparked renewed momentum in many altcoins as well.
One such altcoin making a strong comeback is Pyth Network (PYTH). After experiencing a heavy sell-off, PYTH has surged by nearly 20% in just over a week—cutting its year-to-date losses down to about 53%. And now, a powerful harmonic pattern is forming, hinting that the recovery may not be over just yet.
Harmonic Pattern Signals More Upside Move
On the daily chart using Heikin Ashi candles, we can clearly see a Bearish Cypher harmonic pattern shaping up. These kinds of patterns often signal a bullish continuation—usually pushing price toward a specific reversal zone.
The structure begins at point X, which was a rejection from the February 10 high near $0.2635. From there, the price plummeted to point A, then rallied to point B, followed by a sharp correction to point C, which bottomed out around $0.1057 on April 7—marking a 59% drop from X.
Currently, the price is moving higher to form the final leg CD of the pattern. If this pattern plays out as expected, PYTH could rally to point D, located near the 78.6% Fibonacci retracement level of the X to C move—around $0.2299.
That suggests an upside potential of roughly 42% from the current price of $0.1622.
What’s Next for PYTH?
PYTH is now entering a key resistance zone. This could be a point where some traders choose to take profits—but it could also serve as a launchpad if broken convincingly.
Before hitting the final Cypher target, PYTH must overcome intermediate resistance at $0.2034, which coincides with the 0.618 Fibonacci retracement. A strong push above this level could fuel a faster rally toward $0.2299.
On the technical side, the structure remains bullish. The MACD indicator is also turning positive, indicating that upward momentum is building. As long as this structure holds, the short-term outlook for PYTH remains bright.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
