A well-known crypto analyst, Altcoin Sherpa, has shared his predictions for a Chainlink rival that has already seen an 85% surge this year.
Price Targets for Pyth Network (PYTH)
Altcoin Sherpa plans to use Fibonacci extensions to set price targets for Pyth Network (PYTH), a data aggregation service. He has already identified three targets:
- $0.6979
- $0.767
PYTH has already surpassed the first target of $0.65. At the time of writing, it is trading around $0.658.
Price Discovery and Older Altcoins
Altcoin Sherpa believes that PYTH is currently in “price discovery,” a situation where it is trading at levels never seen before. He notes that coins in this phase often experience strong uptrends with minimal resistance.
He also suggests paying attention to older altcoins, such as Chromia (CHR), which are showing signs of recovery. However, he acknowledges that these coins can have long accumulation periods before they start moving significantly.
