In this Prom technical analysis, we will examine the current price action, trading volume, key levels and indicators for PROM-BTC. Prom is a decentralized blockchain-based platform that enables users to create and manage their own digital assets. It utilizes a novel consensus algorithm called “Proof of Authority” which allows for faster transaction processing times compared to traditional proof of work algorithms. Additionally, Prom’s unique asset management system allows users to easily create, transfer, and trade their digital assets in a secure and transparent manner.
Prom Price Overview:
As of May 20, 2024, Prom is trading at approximately 0.00014 BTC. Let’s dive into the detailed price action for PROM-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00014 |
| High (H) | 0.00014 |
| Low (L) | 0.00014 |
| Close (C) | 0.00014 |
| Volume (C) | 633.29 |
- Open (O): The opening price for today’s trading session was approximately 0.00014 BTC.
- High (H): Prom reached a daily high of around 0.00014 BTC.
- Low (L): The daily low for PROM-BTC was approximately 0.00014 BTC.
- Close (C): At the time of analysis, Prom is trading near its daily close of 0.00014 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.91% |
| 3D Change (%) | -5.44% |
| 7D Change (%) | -6.12% |
| 30D Change (%) | -14.92% |
| 90D Change (%) | -24.49% |
| YTD Change (%) | 9.07% |
Over the past three days, PROMBTC has dropped by approximately -5.44%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -6.12%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PROMBTC maintaining a downward trend of approximately -14.92%, despite intermittent fluctuations. Examining the last 90 days, PROMBTC has witnessed substantial decrease of approximately -24.49%, reflecting strong long-term confidence. Year-to-date, PROMBTC has steadily increased by around 9.07%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Prom Live Chart:
You can access a live price chart for PROM-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 0.50519.
- Momentum score is -0.07678.
PROM BTC Technical Analysis
Prom Trading Volume:
The trading volume for Prom (PROM) over the past 24 hours has been insignificant, with approximately 633.29 BTC traded against PROM. 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): PROM is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Prom is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for PROM-BTC is currently in the low zone, around 42.81876. This suggests that Prom is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Prom (PROM-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.
Acknowledge potential headwinds for Prom (PROMBTC) at 1.44e-04 BTC through bearish technical analysis, featuring weakened support and cautionary indicators.
Don’t skip our thorough exploration of PROM USDT Prom Technical Analysis if you resonated with this post; it’s the perfect next step for deeper understanding.
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.