Beware, Pyth Network’s Price Crash Ahead of $313 Million Token Launch!

Jakarta, Pintu News – Pyth Network, a decentralized oracle network, is experiencing major stress hours before its big token launch scheduled for Monday, May 19.

The price of Pyth Network (PYTH) has dropped 7% in the last 24 hours to $0.1449. This drop marks a decline of over 21% in the last seven days and is currently trading 87.65% below its all-time high price of $1.20.

Check out the full analysis here!

Decreased Prices and Increased Trading Volume

In the last 24 hours, Pyth Network (PYTH) trading volume increased by 45.3% to $38.5 million. Derivatives volume also jumped 58% according to data from Coinglass. The 0.71% rise in open interest indicates that new positions were added, not closed.

This reflects the cautious positioning of traders who anticipate volatility from the upcoming token launch. According to data from Tokenomist, approximately 2.13 billion PYTH tokens, worth approximately $313 million, will be launched on Monday, May 19.

This represents 58.62% of the circulating supply, with only 36% of the total tokens having been launched so far. Large token launches often result in strong selling pressure, which can affect price movements if recipients decide to sell their tokens.

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Technical Analysis Shows Bearish Pressure

On the daily chart, PYTH is currently close to its lower band after falling below its middle Bollinger Band, indicating that bearish pressure is increasing. The relative strength index (RSI) is at 43.5 and continues to decline, indicating that the market is losing momentum but is not yet oversold.

The majority of indicators are showing signals that range from neutral to negative. The moving average convergence divergence rate is slightly negative, and momentum is also in sell territory. All major moving averages, from 10-day to 200-day, both simple and exponential, are showing sell signals, with the 10-day EMA now at $0.1616, well above the current price.

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Potential Post-Launch Price Movement

PYTH has broken its immediate support at $0.1504, and a move towards lower support at $0.1134 is possible. However, PYTH may stabilize and even rise if the market absorbs the $313 million launch with little selling from recipients.

A post-launch recovery could be anticipated by traders, especially if the price drops towards psychologically important support between $0.12 and $0.13. Historical token launches on other tokens sometimes mark a local bottom as uncertainty subsides.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Pyth Network Dips Below Mid-Band and RSI Trends Lower as $313M Token Unlock Looms. Accessed on May 20, 2025
• Featured Image: Metaverse Post