Many altcoins are gaining huge momentum in recent times as the most dominant crypto, Bitcoin, continues to trade sideways. The newly launched Dymension (DYM) has surprisingly made it to the top performer’s list and the popular token Pyth Netwrok (PYTH) is following suit. The PYTH price is making huge noise nowadays and is therefore believed to remain elevated until the weekend. However, the DYM price, which has jumped by more than 30%, could face bearish action.
Dymension (DYM) Price Analysis
Dymension began its trading journey during the last few days of January and maintained a largely stable rally. The price failed to attract the bulls and the bears also remained silent to some extent. However, ever since the price faced extreme bearish pressure, the bulls quickly jumped in and lifted the token above the consolidation.
The DYM price experienced a healthy upswing during the last trading day and after witnessing a minor pullback, the bulls are back in action. The buying volume has surged, which may keep the price above elevated levels. Besides, the RSI has reached the upper resistance, which suggests a minor pullback could be triggered after the price reaches the interim highs above $6. However, DMI continues to flash bullish signals and hence the token may experience a rebound and continue to discover new highs.
Pyth Network (PYTH) Price Analysis
Pyth Network became extremely popular soon after its inception in the last few months of 2023. However, the bears encashed the rising popularity well, leading to a steep drop in prices and eventually reaching the interim lows of around $0.23. Although the bulls have reclaimed their dominance, bearish clouds continue to hover over the PYTH price rally.
After reaching the interim highs just below $0.5, the PYTH price is trading sideways, displaying calmness before the massive price action. The stochastic RSI is bearish, along with MACD, which is close to undergoing a bearish crossover. Hence, a decent pullback to the lower support zone between $0.3 and $0.32 could be imminent.
While both the tokens have displayed acute strength, the Dymension price is believed to sustain a healthy upswing, while the Pyth Network (PYTH) price may soon undergo a minor pullback.
