$PHA /USDT price analysis

Phala Network (PHA) is trading at approximately $0.19, reflecting a significant increase of about 57% over the past 24 hours.

This surge is accompanied by a substantial rise in trading volume, with the 24-hour volume reaching approximately $126 million, indicating heightened market activity and investor interest.

Technical analysis suggests a bullish trend for PHA. The token has broken out of a descending triangle pattern with significant volume, followed by a successful retest of the breakout level. It is now attempting to break through the Ichimoku Cloud resistance zone, signaling strong bullish momentum and potential for further upward movement.