In this Perpetual Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for PERP-BTC. Perpetual Protocol (PERP) is a decentralized derivatives platform that enables users to trade perpetuals with up to 500x leverage. PERP’s novel funding mechanism and risk management system provide a secure and trustless environment for traders, while its fast and reliable architecture ensures seamless execution of trades. With PERP, users can access a wide range of markets and instruments, including perpetual swaps, options, and futures, all within a single platform.
Perpetual Protocol Price Overview:
As of May 16, 2024, Perpetual Protocol is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for PERP-BTC:
| Metric | Value |
|---|---|
| Open (O) | 2e-05 |
| High (H) | 2e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 135,634.98 |
- Open (O): The opening price for today’s trading session was approximately 2e-05 BTC.
- High (H): Perpetual Protocol reached a daily high of around 2e-05 BTC.
- Low (L): The daily low for PERP-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Perpetual Protocol is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -5.05% |
| 3D Change (%) | -5.66% |
| 7D Change (%) | -14.96% |
| 30D Change (%) | -9.35% |
| 90D Change (%) | -37.49% |
| YTD Change (%) | -44.46% |
Over the past three days, PERPBTC has decreased by approximately -5.66%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -14.96%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PERPBTC maintaining a downward trend of approximately -9.35%, despite intermittent fluctuations. Examining the last 90 days, PERPBTC has witnessed substantial decline of approximately -37.49%, reflecting strong long-term confidence. Year-to-date, PERPBTC has steadily depreciated by around -44.46%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Perpetual Protocol Live Chart:
You can access a live price chart for PERP-BTC 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 0.38991.
- Momentum score is -0.10924.
PERP BTC Technical Analysis
Perpetual Protocol Trading Volume:
The trading volume for Perpetual Protocol (PERP) over the past 24 hours has been insignificant, with approximately 135,634.98 BTC traded against PERP. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): PERP is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Perpetual Protocol is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for PERP-BTC is currently in the low zone, around 38.82854. This suggests that Perpetual Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Perpetual Protocol (PERP-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Perpetual Protocol (PERPBTC) faces challenges, trading at 1.48e-05 BTC, as technical analysis signals weakened support and cautionary indicators.
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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.