Latest Pyth Network (PYTH) Price Analysis

Deep Dive

1. Technical Rebound (Mixed Impact)

Overview: PYTH’s 7-day RSI hit 20.56 (oversold threshold: ≤30) on December 1, signaling exhaustion in selling pressure. The MACD histogram flipped positive (+0.00019738), suggesting minor bullish momentum.

What this means: Oversold bounces are common but fragile in downtrends. Resistance lies at the 7-day SMA ($0.0751) – a 10% gap from the current $0.0682 price. Failure to reclaim this level could renew selling.

What to look out for: Sustained closes above $0.0751 to confirm trend reversal potential.

2. Upbit Hack Fallout (Bearish Relief)

Overview: Upbit’s November 27 Solana-network hack drained $36M in assets, including PYTH. The exchange froze withdrawals and pledged full user reimbursement using corporate reserves (Upbit).

What this means: While the hack initially pressured PYTH (part of stolen assets), Upbit’s swift response limited contagion. No evidence suggests protocol flaws in Pyth Network itself, insulating it from direct blame.

3. Market Sentiment Shift (Neutral)

Overview: Crypto’s Fear & Greed Index hit “Extreme Fear” (16) on December 2, historically a contrarian buy signal. Bitcoin dominance dipped slightly to 58.95%, hinting at tentative altcoin demand.

What this means: PYTH’s rise mirrors a fragile market-wide bounce, but Bitcoin Season (Altcoin Season Index: 23) limits upside.

Conclusion

PYTH’s 24h gain reflects technical repricing and sector-wide stabilization, but macro bearishness and unlock risks (42.5% of supply still locked) cap optimism. Key watch: Can PYTH hold above its pivot point ($0.0691) to build momentum, or will sellers reemerge at SMA resistance?

Deep Dive

1. Upbit Hack Impact (Bearish)

Overview:
On November 27, 2025, Upbit suffered a $36M breach targeting Solana-based assets like PYTH. The exchange suspended Solana withdrawals and moved assets to cold storage, but the incident eroded confidence in PYTH’s liquidity and security.

What this means:
- Direct Exposure: PYTH was among tokens drained from Upbit’s hot wallets (U.Today).
- Liquidity Shock: Suspended withdrawals likely forced short-term holders to sell PYTH on other platforms, exacerbating downward pressure.

What to watch:
- Recovery of stolen funds and Upbit’s compensation timeline.

2. Technical Weakness (Bearish)

Overview:
PYTH broke below its 7-day SMA ($0.0765) and 30-day SMA ($0.0891), confirming a bearish trend. Key indicators:
- RSI 7-day: 29.71 (oversold but no reversal signal).
- MACD: Negative momentum (-0.008 vs. signal line -0.0085).

What this means:
Sustained selling overwhelmed near-term support at $0.0711 (recent swing low). The next critical level is the 2025 low of $0.0668, which could trigger stop-loss cascades if broken.

3. Macro Crypto Sentiment (Bearish)

Overview:
The crypto Fear & Greed Index hit “Fear” (20/100), while Bitcoin dominance rose to 58.65%, signaling capital rotation away from altcoins like PYTH.

What this means:
- Risk-Off Dominance: Investors favored BTC amid market uncertainty, starving alts of liquidity.
- PYTH vs. Market: PYTH’s 24h drop (-11.69%) outpaced the total crypto market (-5.08%), highlighting coin-specific risks.

Conclusion

PYTH’s slump reflects a perfect storm of exchange-driven panic, technical breakdowns, and macro risk aversion. While the RSI suggests a potential bounce, sentiment recovery hinges on Upbit’s crisis management and broader market stabilization.

Key watch: Can PYTH hold $0.0668 support, or will forced selling push it to new yearly lows?