In this Phoenix technical analysis, we will examine the current price action, trading volume, key levels and indicators for PHB-USDT. Phoenix (PHB) is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm to secure its network and validate transactions. With a focus on privacy and security, Phoenix offers users enhanced anonymity features and advanced encryption techniques to protect their digital assets. Additionally, the Phoenix blockchain supports smart contracts and decentralized applications (dApps), allowing for a wide range of use cases beyond just peer-to-peer transactions.
Phoenix Price Overview:
As of May 17, 2024, Phoenix is trading at approximately 2.646 USDT. Let’s dive into the detailed price action for PHB-USDT:
| Metric | Value |
|---|---|
| Open (O) | 2.6992 |
| High (H) | 2.768 |
| Low (L) | 2.5596 |
| Close (C) | 2.646 |
| Volume (C) | 3,103,779.00 |
- Open (O): The opening price for today’s trading session was approximately 2.6992 USDT.
- High (H): Phoenix reached a daily high of around 2.768 USDT.
- Low (L): The daily low for PHB-USDT was approximately 2.5596 USDT.
- Close (C): At the time of analysis, Phoenix is trading near its daily close of 2.646 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.99% |
| 3D Change (%) | 20.60% |
| 7D Change (%) | 14.23% |
| 30D Change (%) | 43.46% |
| 90D Change (%) | 88.93% |
| YTD Change (%) | 162.89% |
Over the past three days, PHBUSDT has increased by approximately 20.60%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 14.23%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PHBUSDT maintaining an upward trend of approximately 43.46%, despite intermittent fluctuations. Examining the last 90 days, PHBUSDT has witnessed substantial increase of approximately 88.93%, reflecting strong long-term confidence. Year-to-date, PHBUSDT has steadily increased by around 162.89%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Phoenix Live Chart:
You can access a live price chart for PHB-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 1.17009.
- Momentum score is 0.5381.
PHB USDT Technical Analysis
Phoenix Trading Volume:
The trading volume for Phoenix (PHB) over the past 24 hours has been insignificant, with approximately 3,103,779.00 USDT traded against PHB. 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): PHB is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Phoenix is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for PHB-USDT is currently in the high zone, around 58.10335. This suggests that Phoenix is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
Phoenix (PHB-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 high RSI and insignificant trading volume are high signals for potential upward movement.
Confirm Phoenix’s (PHBUSDT) bullish outlook at 2.65 USDT with technical analysis, emphasizing strong support and positive indicators.
Dive into the details with our in-depth analysis on PHB BTC Phoenix Technical Analysis; you won’t want to miss it if you found this post interesting.
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.