In this Phala technical analysis, we will examine the current price action, trading volume, key levels and indicators for PHA-USDT. Phala (PHA) is a privacy-focused blockchain that utilizes zero-knowledge proofs and homomorphic encryption to protect user data. Its novel consensus algorithm, called “Proof of View” (PoV), incentivizes users to contribute computational power towards validating transactions while maintaining their anonymity. With Phala, users can enjoy the benefits of decentralized finance (DeFi) and privacy-preserving technologies without compromising on security or scalability.
Phala Price Overview:
As of June 15, 2024, Phala is trading at approximately 0.1611 USDT. Let’s dive into the detailed price action for PHA-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.157 |
| High (H) | 0.1639 |
| Low (L) | 0.1561 |
| Close (C) | 0.1611 |
| Volume (C) | 4,076,026.00 |
- Open (O): The opening price for today’s trading session was approximately 0.157 USDT.
- High (H): Phala reached a daily high of around 0.1639 USDT.
- Low (L): The daily low for PHA-USDT was approximately 0.1561 USDT.
- Close (C): At the time of analysis, Phala is trading near its daily close of 0.1611 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.61% |
| 3D Change (%) | -5.90% |
| 7D Change (%) | -12.25% |
| 30D Change (%) | -8.93% |
| 90D Change (%) | -45.72% |
| YTD Change (%) | 39.60% |
Over the past three days, PHAUSDT has fallen by approximately -5.90%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -12.25%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PHAUSDT maintaining a downward trend of approximately -8.93%, despite intermittent fluctuations. Examining the last 90 days, PHAUSDT has witnessed substantial decrease of approximately -45.72%, reflecting strong long-term confidence. Year-to-date, PHAUSDT has steadily increased by around 39.60%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Phala Live Chart:
You can access a live price chart for PHA-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 0.74569.
- Momentum score is -0.17342.
PHA USDT Technical Analysis
Phala Trading Volume:
The trading volume for Phala (PHA) over the past 24 hours has been insignificant, with approximately 4,076,026.00 USDT traded against PHA. 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): PHA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Phala is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for PHA-USDT is currently in the low zone, around 43.31361. This suggests that Phala is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Phala (PHA-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.
Understand Phala’s (PHAUSDT) challenges at 1.61e-01 USDT with detailed bearish technical analysis, highlighting weakened support and cautionary indicators.
Take the next step in your exploration by delving into our detailed insights on PHA BTC Phala Technical Analysis; it’s a natural follow-up if you enjoyed this post.
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.