PYTH crypto could crash as potential death cross looms

The price of Pyth Network fell by more than 66% of its annual summit, and the techniques indicate another drawback.

Since the afternoon on May 21 (Asia’s time), Pyth (Pythm) was negotiated about $ 0.124, down approximately 3% in the last 24 hours. This is its lowest point since April 11. The token market capitalization is currently just $ 22.7 billion.

The last slide follows a discharge of a token scheduled for May 20, which released About 2.13 billion pyth in circulation, valued at 275.11 million dollars.

Unlocking, which is part of the Pyth annual acquisition cycle, represented 58.7% of the supply in circulation at the time and was distributed to the first investors, contributors and participants in the ecosystem.

After the event, the supply of Pyth increased to almost 5.75 billion tokens, or around 57.5% of its maximum supply, which is capped at 10 billion. With this unlocking, around 36% of the total diet is now in active circulation. The last two unlocks are scheduled for May 2026 and May 2027.

Large unlocks like this are often disturbed, because they inject a large volume of new tokens on the market without increasing demand for demand. This imbalance can cause downward price pressure. Even if all recipients do not unload immediately, many tend to sell early, anticipating other drops.

At the same time, unlocks are often part of the long -term roadmap for a project to distribute the property more widely and reward the first contributors. They generally mark key stages of the development cycle.

Since the Pyth unlocking calendar was publicly disclosed in advance, part of the impact may have already been taken into account, potentially reducing the risk of a net sale and panic focused.

Pyth Eyes drops to $ 0.10 in support

Although Pyth Price has been slightly recovered since the unlocking event, there is a risk that the Pyth price will continue in the coming weeks as a death model is approaching on the graph of 4 hours / USDT.

A death cross is formed when the exponential mobile averages of 200 days and 50 days intersect while pointing down.

In PythThe case of propagation between the two mobile averages has shrunk in recent months. His 200 -day MA was $ 0.15,552, while the 50 days were $ 0.1589.

A cross of death often leads to substantial decline over time. For example, the last time Pyth Price formed this model was in December from last year, and the room dropped by more than 76%.

In addition to this, the Superrend indicator also flashed a red signal, adding to the downward perspective.

If the death cross is validated, Pyth could continue to fall in the short term, $ 0.10 being the next key level to look at both psychological support and its lowest point from April.

That said, the Pyth’s relative force index is currently at 30, which is just near the occurrence area. This could trigger a short -term rescue rally while buyers seek to buy the decline, but any recovery could be temporary unless the wider trend changes.