Pyth Network is an oracle that publishes financial market data to multiple blockchains. The Pyth protocol is designed to incentivize participants to continually publish price updates for various products (such as BTC/USD).
Pyth Features-
Real-time market data- 45+ blockchains
It supports 400+low latency price feeds across digital assets, equities, ETFs, forex pairs, and commodities.
PYTHUSD performed well in the past two days.
Any daily close above $0.60 confirms further bullishness.
XMRUSD gained more than 50% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.5939 and is currently trading around $0.5058.
The bullish invalidation can happen if the pair closes below $34. On the lower side, the near-term support is $0.47. Any break below target $0.40/$0.34. Any violation below $0.34 targets $0.20.
The immediate resistance stands at around $0.60. Any breach above confirms bullish continuation. A jump to $0.80/$1 is possible. A surge past $1 will take it to $1.50.
It is good to buy on dips around $0.40 with SL around $0.30 for TP of $0.60/$0.75.
