Mithat Can Kartlaşmış 
We believe that the price actions of PYTH, which we have been observing for a long time, could follow an intriguing course in the future. The recent volatility provides us with clues about the potential trends of the market.
You might like: Taurus Receives Regulatory Approval to Offer Tokenized Securities
In particular, price movements above and below significant support and resistance levels can attract the attention of investors. However, it will be important to see how strong certain support levels are in the event of continued selling pressure. The failure to breach these support points could be critical for a potential reversal.
In light of all these factors, it will be important to closely monitor the future price actions of PYTH and assess the potential opportunities in the market. Now let’s evaluate these potential price actions on the chart.
PYTH Price Action Analysis
The PYTH chart observed a few days ago drew attention with the cup and handle formation. However, it seems that the recent sharp falls in Bitcoin have also had similar effects on PYTH. We can see that a negative sentiment has emerged following the sharp break at the $0.3629 level.
Investors seem to have reversed their buy-side strategies taken a few days ago. If we can regain the $0.3629 level during the day, there is a possibility that the price will gain upward momentum and exceed the sequential targets. However, it is worth mentioning that the probability of this scenario occurring is very low.
If the $0.3629 support cannot be regained, we believe that the price may try to hold on to the $0.3235 levels for a while. However, if PYTH breaks this support point, it is possible that a decline to the $0.28 level could be possible.