PYTH token surged 10% in a single day, breaking above the $0.089 resistance level after bouncing off the $0.072 demand zone. The network’s open interest increased by over 10% to $17.28 million, suggesting traders are adding exposure to the futures market. Funding rates have remained positive for a week and long positions account for 67% of total market exposure, indicating bullish sentiment among derivatives traders. However, the concentration of leveraged long positions increases the risk of a sharp pullback if the market reverses or profit-taking accelerates.
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