$PERP Bigg News
Urgent Update
Don't miss this out
Analysis Let's See together Chart And market
Based on the $PERP chart here’s my analysis for PERP/USDT:
(Team ) ▶️ HelpingHands&__786
1. Trend Overview:
The price surged by 28.76% in 24 hours, indicating strong bullish momentum.
The 4-hour chart shows a breakout with the price reaching 0.9500 before pulling back to 0.8211.
2. Moving Averages (MA):
MA(7): 0.7389 (yellow) – Price is far above the short-term MA, reflecting strong upward momentum.
MA(25): 0.6558 (pink) – Also trending upward, suggesting ongoing bullish sentiment.
MA(99): 0.6081 (purple) – The long-term MA is lagging, indicating a reversal from a previous downtrend.
3. RSI (20):
RSI is at 75.29, indicating the market is currently in the overbought zone. This suggests potential for a short-term correction or consolidation.
4. Volume Spike:
A large spike in volume confirms that the breakout has strong participation, which supports the bullish trend.
Trade Signal and Strategy:
Bullish Bias: Momentum is strong, but since the RSI is overbought, a short-term pullback is possible.
Entry Strategy:
If looking for new entries, wait for the price to pull back near the 0.75 - 0.77 zone (around MA(7)) for a better risk-reward.
Stop-Loss: Place stops around 0.70, just below the breakout point.
Profit Target: If the trend resumes, the next resistance level will be the previous high of 0.95 and beyond. A potential target could be around 1.00.
Given the strength of the breakout, a DCA strategy on pullbacks could also work well if the price temporarily retraces. Keep monitoring volume and RSI for signs of exhaustion or continuation.
