Overview: PERL/USDT has shown nearly a week's worth of consolidation and accumulation from its recent high of 0.07400. The accompanying decrease in volume during this consolidation suggests continuation.
Analysis: PERL/USDT showing a continuation bias after 5 days of holding up the 0.06000 area successfully. The chart indicates the various areas of resistance and a channel of support that could provide potential secondary entries in case of a breakdown (would likely be due to extreme btc volatility).
Deeper Dive: The air up here at PERL's current price levels is thin, meaning resistance is light, and support, even lighter. Although we are not in price discovery mode, it is beginning to act like an asset in price discovery.
Comments: I expect large moves up in a stable bitcoin environment, and steep retracement in a volatile bitcoin environment.
Final Note: PERL seems to be navigating the Defi waters just fine, but as always, conduct your own research in order to create a fundamentals-view of the project. Don't forget to keep your good eye on bitcoin.
Good luck.
"Every day is a little life. Every waking and rising, a little birth, every fresh morning, a little youth, and every going to rest and sleep, a little death."
Analysis: PERL/USDT showing a continuation bias after 5 days of holding up the 0.06000 area successfully. The chart indicates the various areas of resistance and a channel of support that could provide potential secondary entries in case of a breakdown (would likely be due to extreme btc volatility).
Deeper Dive: The air up here at PERL's current price levels is thin, meaning resistance is light, and support, even lighter. Although we are not in price discovery mode, it is beginning to act like an asset in price discovery.
Comments: I expect large moves up in a stable bitcoin environment, and steep retracement in a volatile bitcoin environment.
Final Note: PERL seems to be navigating the Defi waters just fine, but as always, conduct your own research in order to create a fundamentals-view of the project. Don't forget to keep your good eye on bitcoin.
Good luck.
"Every day is a little life. Every waking and rising, a little birth, every fresh morning, a little youth, and every going to rest and sleep, a little death."