Pyth Network (PYTH) prices are expected to soar by 30%, core upgrades strengthen long-term fundament

Pyth Network prices have risen for the second consecutive week, with key resistance levels approaching a breakthrough.

Pyth Network prices have risen for the second consecutive week, successfully resisting significant bearish pressure. Prices have soared nearly 7% in the past 24 hours, with weekly gains exceeding 20%. At this point, the token has hit a key resistance level in a bearish pattern, and once it breaks through, the price may start a new upward trend. Even more optimistic is that Pyth's recently announced core upgrade introduces a sustainable revenue model through paid oracle services, enhancing the long-term fundamentals of the agreement.

However, the real test lies in the area of resistance that will be faced, as a breakthrough in that area could trigger an increase of about 30% towards the upper boundary of the downtrend channel.

Pyth core upgrade enhances long-term fundamentals

Pyth Network recently announced its core upgrade, one of the most important developments since the agreement was released. The upgrade transforms Pyth from a oracle network that relies mainly on subsidies to a more sustainable infrastructure model by introducing paid oracle subscriptions for applications that use its price data.

In addition to creating recurring revenue streams, upgrades also improve data delivery by reducing latency, improving reliability, and expanding market coverage. Revenue generated by these services will flow into PYTH reserves, which will enhance the long-term sustainability of the network while also coordinating incentives for future ecological growth.

As demand for high-frequency price data continues to grow in decentralized finance, perpetual trading platforms, and real-world asset tokenization, core upgrades allow Pyth to leverage growing adoption rates while consolidating its role as a leading oracle infrastructure provider.

PYTH attempts trend reversal above key support

PYTH prices have surged nearly 20% in the past week, rebounding from the lower boundary of the long-term downtrend channel after gaining support around $0.038. The rally has pushed the token to about $0.047 and is currently testing mid-line resistance in the channel. If we can decisively break through US$0.05, it may open the door for a larger bullish market, with an increase of nearly 30%. The target is looking around US$0.065 and confirms the shift in market structure.

With recent gains, prices have entered a critical supply area, where sellers had previously remained aggressive and pushed prices down by more than 50%. At the same time, the weekly RSI indicator is rising, indicating buyers are gradually regaining control, allowing bullish hopes to continue. On the other hand, the derivatives market also reflected improved sentiment.

Open interest has climbed to more than US$90 million, setting a multi-month high, while token prices continue to rise. This combination suggests that new money is entering the market rather than just short covering driving the rally, which increases the likelihood that prices will continue to rise if buyers succeed in regaining the $0.050 resistance level.

Key price levels to focus on

Resistance level 1: US$0.050
Resistance level 2: 0.062-US$0.065
Support level 1: US$0.040
Support 2: US$0.030
Bullish Target: About 30% upside, target 0.062 - 0.065 US$0.065

Can PYTH prices break the bearish trend?

After months of continued weakness, Pyth Network's technical and fundamental outlook are beginning to converge. Core upgrades enhance the agreement's long-term growth potential through a sustainable revenue model, while recent increases in market participation suggest traders are also preparing for a larger rebound. If it can successfully break through US$0.050, it may accelerate buying momentum and push prices towards the upper boundary of the downtrend channel (approximately US$0.062 - 0.065). Until then, the current resistance level remains the key level in determining whether PYTH can shift from a rebound to a confirmation of a bullish reversal.