Pyth Network Surges 12% After U.S. Commerce Department Partnership

The Pyth Network (PYTH) price surged over 12% in the past 24 hours, following its partnership with the U.S. Commerce Department to release economic data on-chain.

This uptrend may be at its initial stage, as indicated by on-chain data and technical outlook.

According to charts, PYTH is trading above a descending trend channel that has existed since the beginning of 2026, suggesting it could be the bottom of a bearish market structure.

The token's short-term supply zone at $0.060, $0.070, and $0.080 could challenge bulls and define PYTH's downside risk.