In this PowerPool Concentrated Voting Power technical analysis, we will examine the current price action, trading volume, key levels and indicators for CVP-USDT. PowerPool Concentrated Voting Power (CVP) is a cryptocurrency that utilizes a unique voting system to allocate block rewards and governance decisions. This system allows for more decentralized decision-making, as smaller holders of the currency have a greater say in the direction of the network. By concentrating voting power among a small group of individuals or organizations, CVP aims to create a more equitable distribution of influence within the cryptocurrency ecosystem.
PowerPool Concentrated Voting Power Price Overview:
As of September 22, 2023, PowerPool Concentrated Voting Power is trading at approximately 0.313 USDT. Let’s dive into the detailed price action for CVP-USDT:
- Open (O): The opening price for today’s trading session was approximately 0.2922 USDT.
- High (H): PowerPool Concentrated Voting Power reached a daily high of around 0.325 USDT.
- Low (L): The daily low for CVP-USDT was approximately 0.2883 USDT.
- Close (C): At the time of analysis, PowerPool Concentrated Voting Power is trading near its daily close of 0.313 USDT.
|1D Change (%)||7.12%|
|3D Change (%)||-8.00%|
|7D Change (%)||12.03%|
|30D Change (%)||13.53%|
|90D Change (%)||-9.09%|
|YTD Change (%)||-7.72%|
Over the past three days, CVPUSDT has dropped by approximately -8.00%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 12.03%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CVPUSDT maintaining an upward trend of approximately 13.53%, despite intermittent fluctuations. Examining the last 90 days, CVPUSDT has witnessed substantial fall of approximately -9.09%, reflecting strong long-term confidence. Year-to-date, CVPUSDT has steadily decreased by around -7.72%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
PowerPool Concentrated Voting Power Live Chart:
You can access a live price chart for CVP-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 1.02681.
- Momentum score is 0.13529.
CVP USDT Technical Analysis
PowerPool Concentrated Voting Power Trading Volume:
The trading volume for PowerPool Concentrated Voting Power (CVP) over the past 24 hours has been insignificant, with approximately 4,835,121.00 USDT traded against CVP. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
- 50-day Simple Moving Average (SMA): CVP is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): PowerPool Concentrated Voting Power is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CVP-USDT is currently in the neutral zone, around 51.90041. This suggests that PowerPool Concentrated Voting Power is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
PowerPool Concentrated Voting Power (CVP-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.