In this Perpetual Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for PERP-USDT. Perpetual Protocol is a decentralized derivatives platform that enables users to trade perpetuals with low latency and high liquidity. The protocol utilizes a novel mechanism called the “Automated Market Making” (AMM) algorithm, which ensures fair and efficient markets for all traders. With its focus on speed, security, and user experience, Perpetual Protocol is poised to revolutionize the cryptocurrency derivatives space.
Perpetual Protocol Price Overview:
As of July 06, 2024, Perpetual Protocol is trading at approximately 0.582 USDT. Let’s dive into the detailed price action for PERP-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.566 |
| High (H) | 0.583 |
| Low (L) | 0.558 |
| Close (C) | 0.582 |
| Volume (C) | 1,440,221.32 |
- Open (O): The opening price for today’s trading session was approximately 0.566 USDT.
- High (H): Perpetual Protocol reached a daily high of around 0.583 USDT.
- Low (L): The daily low for PERP-USDT was approximately 0.558 USDT.
- Close (C): At the time of analysis, Perpetual Protocol is trading near its daily close of 0.582 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.83% |
| 3D Change (%) | -14.66% |
| 7D Change (%) | -18.26% |
| 30D Change (%) | -50.76% |
| 90D Change (%) | -55.78% |
| YTD Change (%) | -48.91% |
Over the past three days, PERPUSDT has decreased by approximately -14.66%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -18.26%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PERPUSDT maintaining a downward trend of approximately -50.76%, despite intermittent fluctuations. Examining the last 90 days, PERPUSDT has witnessed substantial decline of approximately -55.78%, reflecting strong long-term confidence. Year-to-date, PERPUSDT has steadily depreciated by around -48.91%, 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-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 0.80755.
- Momentum score is -0.32872.
PERP USDT Technical Analysis
Perpetual Protocol Trading Volume:
The trading volume for Perpetual Protocol (PERP) over the past 24 hours has been insignificant, with approximately 1,440,221.32 USDT 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-USDT is currently in the low zone, around 34.24882. This suggests that Perpetual Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Perpetual Protocol (PERP-USDT) is currently exhibiting signs of short-term bearish 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 low RSI and insignificant trading volume are low signals for potential downward movement.
Acknowledge potential headwinds for Perpetual Protocol (PERPUSDT) at 5.82e-01 USDT through bearish technical analysis, featuring 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.