In this Prom technical analysis, we will examine the current price action, trading volume, key levels and indicators for PROM-USDT. Sure, here are three sentences about Prom (PROM) cryptocurrency: Prom (PROM) is a decentralized cryptocurrency that utilizes a novel consensus algorithm called Proof of Memory (PoM) to secure its network and validate transactions. This innovative approach allows for faster and more energy-efficient transaction processing, making it an attractive option for users looking for a more sustainable crypto experience. With its focus on privacy and security, Prom (PROM) is poised to become a leading player in the rapidly evolving cryptocurrency landscape.
Prom Price Overview:
As of October 03, 2023, Prom is trading at approximately 4.003 USDT. Let’s dive into the detailed price action for PROM-USDT:
| Metric | Value |
|---|---|
| Open (O) | 4.048 |
| High (H) | 4.093 |
| Low (L) | 3.988 |
| Close (C) | 4.003 |
| Volume (C) | 31,386.10 |
- Open (O): The opening price for today’s trading session was approximately 4.048 USDT.
- High (H): Prom reached a daily high of around 4.093 USDT.
- Low (L): The daily low for PROM-USDT was approximately 3.988 USDT.
- Close (C): At the time of analysis, Prom is trading near its daily close of 4.003 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.96% |
| 3D Change (%) | -0.77% |
| 7D Change (%) | 1.60% |
| 30D Change (%) | -27.20% |
| 90D Change (%) | 1.60% |
| YTD Change (%) | -40.07% |
Over the past three days, PROMUSDT has decreased by approximately -0.77%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 1.60%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PROMUSDT maintaining a downward trend of approximately -27.20%, despite intermittent fluctuations. Examining the last 90 days, PROMUSDT has witnessed substantial rise of approximately 1.60%, reflecting strong long-term confidence. Year-to-date, PROMUSDT has steadily dropped by around -40.07%, 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-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 0.68988.
- Momentum score is -0.27205.
PROM USDT Technical Analysis
Prom Trading Volume:
The trading volume for Prom (PROM) over the past 24 hours has been insignificant, with approximately 31,386.10 USDT 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-USDT is currently in the neutral zone, around 49.13156. This suggests that Prom is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Prom (PROM-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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
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.
