The crypto market is on fire! Pyth Network surges 99% leading the charge, with PUMP and POL following strongly.

On August 29, the crypto market welcomed three major highlights – Pyth Network (PYTH) surged nearly 99% due to on-chain integration of US GDP data, Pump.fun (PUMP) rebounded under a $10 million buyback plan, and Polygon (POL) broke through key resistance stimulated by the on-chain budget proposal from the Philippines. All three surged, becoming the market focus.

Pyth Network: US GDP on-chain ignites the market

(Source: Trading View)

On-chain price oracle Pyth Network (PYTH) announced the integration of US GDP data, attracting strong attention from the market. US Secretary of Commerce Howard Lutnick stated that blockchain will be used to enhance data transparency, with US GDP growing by 3.3% year-on-year, indicating economic confidence.

Current price: 0.2314 USD

Technical target: 61.8% Fibonacci level at 0.2653 USD, if broken, it is expected to impact 0.3665 USD (78.6% retracement level)

Technical indicators: RSI 79 (overbought zone), MACD continues to look bullish

Risk level: If it falls below 0.2114 USD (50% retracement level), it may test 0.1664 USD (38.2% retracement level)

Pump.fun (PUMP): 10 million dollar buyback drives Rebound

(Source: Trading View)

Pump.fun spent $10.65 million to buy back PUMP tokens during the period from August 22 to 26, with the buyback amount accounting for over 4% of the circulating supply, raising the total holdings to $58.13 million.

Current price trend: Slightly adjusted down 2% after three consecutive days of increase.

Technical formation: Breakthrough 4-hour descending wedge, target testing 200-period EMA (0.003287 USD)

Upward target: If the Rebound continues, there is hope to challenge 0.004080 USD (wedge top)

Technical indicators: RSI 65 (healthy range), MACD steadily rising

Polygon (POL): on-chain national budget proposal assist

(Source: Trading View)

Philippine Senator Bam Aquino proposed to record the national budget on the Polygon blockchain, driving up the POL price.

Current price: Challenging the 200-day EMA (0.2602 USD)

Technical target: If the closing stabilizes or tests 0.2822 USD (38.2% Fibonacci level)

Technical indicators: RSI 57 (neutral bullish), still has upward space.

Risk level: If a pullback occurs, it may test the 50-day EMA (0.2334 USD)

Investor Observation Focus

PYTH: Pay attention to the breakthrough of the 0.2653 USD resistance level.

PUMP: Pay attention to whether the repurchase momentum can continue to support the Rebound.

POL: Observe whether the 200-day EMA can turn into effective support.

Conclusion

The simultaneous rise of Pyth Network, Pump.fun, and Polygon reflects the crypto market's rapid response to the on-chain application landing, buyback plans, and favorable policies. For traders, these three major targets still have volatility and opportunities in the short term, but they must also be wary of the risks of pullbacks brought by overbought conditions and cooling news.