• Pyth Network Selected by U.S. Commerce to broadcast key economic data on-chain, marking a historic blockchain-finance integration.
• MACD Bull Divergence Signals a potential rally, suggesting internal strength building despite lower lows in price.
• PYTH could reach $0.50, representing a 173% upside if momentum holds and historical patterns repeat.

Pyth Network (PYTH) continues to gain more attention from the crypto community after registering a technical signal that is often observed before trend reversals and explosive rallies. MACD signals stayed positive, and analysts are observing for a possible breakout toward the $0.50 level.

At the time of writing, PYTH is trading at $0.2109 with a 24-hour trading volume of $2.34 billion and a market capitalization of $1.21 billion. The PYTH price over the last 24 hours is up by 12.92%, and over the last week it is also up by 68.35%.

Source: CoinMarketCap

Also Read: US Commerce Collaborates With Pyth Network, Price Surges 94% In 24 Hours

Pyth Network Selected to Put U.S. Data On-Chain

A prominent crypto analyst highlighted that the U.S. Department of Commerce has thus selected Pyth Network to authenticate and broadcast government-published economic data on-chain, a move that most consider a milestone step towards integrating blockchain infrastructure and traditional finance.

Pyth, long regarded as one of the best decentralized oracles for high-speed market feeds, will now provide its services for crucial economic indicators like GDP growth, inflation rates, and employment levels.

By shifting this data onto blockchain networks, the Commerce Department aims to bring it into clearer light, safeguard data integrity from tampering, and grant builders the power to develop next-gen financial instruments that will autonomously evolve in real time in response to macroeconomic change. 

The announcement caused an instantaneous market response, pushing the PYTH up 45% within a few hours as investment circles converged towards the program’s solid track record and institutional support.

PYTH Shows Bull Divergence and Eyes $0.50

According to the crypto analyst Javon Marks, PYTH has established a classic bull divergence in its Moving Average Convergence Divergence (MACD) chart. 

This is when the asset’s price prints lower lows, but the momentum indicator spikes higher, an indication that internal strength is building despite the face-value declines in price action. Historically, this has appeared only before a significant digital asset rally.

Source: X

If momentum holds, predictions suggest that $PYTH’s price would appreciate by up to +173%, putting it in the $0.50 range. This kind of outcome would not only be a psychological barrier breaker but also solidify the token’s growing profile in the decentralized finance (DeFi) sector.

Also Read: PYTH Network (PYTH) Price Analysis: Can Bulls Drive Toward $0.1350 Target?