$PHA /USDT price analysis

Phala Network (PHA) has experienced a significant price increase over the past 24 hours, with a rise of approximately 31%. Over the past week, PHA has risen by about 28%, and over the past month, it has increased by approximately 43%.

Technical analysis indicates a bullish trend for PHA, with the 50-day Simple Moving Average (SMA) at $0.14 and the 200-day SMA at $0.13, both suggesting upward momentum. The Relative Strength Index (RSI) is at 61.62, indicating that PHA is currently in neutral territory.

Looking ahead, some forecasts predict that PHA could reach approximately $0.57 by the end of 2024, representing an increase of over 100% from its current price. By 2025, projections suggest that PHA could trade between $0.58 and $0.69, with a potential average price around $0.63.