Powerledgre Price Analysis: POWR Token Mooning, Is It Ready For A Parabolic Rally?

Source : coingape.com

The POWR token surged more than 85% in just two trading sessions. One of the reasons that could have gathered the interest of crypto inventors would be the POWR token listing on a well-known cryptocurrency exchange, ‘Coinbase.’ The token price has breached the previous swing high of $0.671, with an insane amount of boast in the volume activity.

Key technical points:

  • The POWR token price trying to sustain above the $0.671 resistance 
  • The daily RSI line reached the overbought territory 
  • The intraday trading volume in the POWR token is $2.2 Billion, indicating a 14289.6% hike

Source- POWR/USD chart by Tradingview

The POWR token initiated an impressive recovery after the token price bounced from the $0.132 support. The new rally is trying to break out from the previous swing high of $0.67, which would trigger a significant rally in this token.

The Relative Strength Index value at 74 indicates a strong bullish sentiment for this token. However, the RSI line also displays a bearish divergence in this weekly chart.

POWR/USD Chart In The daily Time Frame

TradingView Chart

Source- POWR/USD chart by Tradingview

The POWR token resonated in a symmetrical triangle pattern in the daily time frame chart. The token consolidated in this region for more than two months, until November 15th, when the token price gave a massive breakout from the resistance trendline, with a huge surge in the volume activity.

The POWR token price gained over 85% in just two trading sessions and has breached the previous swing high of the $0.671 mark. If the coin manages to sustain above this crucial resistance, the crypto traders can grab an excellent long opportunity in this coin.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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