Perpetual Protocol Price Prediction – Will PERP Hit $20 Soon?

This Perpetual Protocol (PERP) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our PERP  price analysis and prediction.

Among the cryptocurrencies that are rallying this year, PERP is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, PERP has been around since 2019.

Can PERP reach $20 in 2022? We will find out shortly. But before we proceed to our PERP analysis, let us first answer the question “What is PERP?” in this PERP prediction 2022 article.

What is Perpetual Protocol (PERP)?

In late 2019, the Perpetual Protocol was launched, originally under the name of Strike Protocol. Moreover, the platform builds on an Uniswap-inspired automated market maker (AMM) design, More so, the Perpetual Protocol’s liquidity pool is determined algorithmically. Instead, rely on liquidity providers to identify the curve of a given market, Perpetual Protocol could programmatically set and update the parameters of the virtual AMM and provide a competitive product for any given market at all times.

Added to this, the team claims that PERP is the first virtual AMM (vAMM), that enables markets with no makers while still guaranteeing on-chain liquidity. However, these maker-less markets lower the demanded capital demands traditional markets require and pave the way for emerging futures.

In addition, the Perpetual Protocol’s Insurance Fund is guaranteed by the native token, $PERP holder. Even more, the Insurance Fund is utilized to cover the unexpected losses from leveraged trading. In case the Insurance Fund is depleted, the Perpetual Protocol will mint many $PERP to refill the Insurance Fund and close the losses.

$PERP holders can stake their assets to Perpetual Protocol’s staking pool for a certain period of time. In return, stakers are rewarded with a percentage of the transaction fees accumulated across the protocol in addition to the inflationary staking rewards.

As the name suggests, Perpetual Protocol aims exclusively on perpetual swap contracts. At launch, Perpetual Protocol will support BTC, ETH, and LINK, and could onboard other synthetic assets such as gold, crude oil, or other fiat currencies through governance in the future. Traders could get up to 20X leverage on both long and short positions. Moreover, the Perpetual Protocol is supported by a Decentralized Autonomous Organization (DAO) with a strong presence in Asia. More so, it is not intended for US residents or citizens.

Now that we are clear about PERP do you think PERP will be beneficial crypto in 2022? Join me and let us see the charts in this PERP price analysis and PERP price prediction.

Perpetual Protocol (PERP) Current Market Status

As of the time of writing this PERP price analysis, PERP trades at $4.76 with a 24-hour trading volume of $36,656,373. The price of PERP has increased by 0.71% in the last 24 hours.

Furthermore, PERP has a current circulating supply of 74,475,000.00 PERP. Currently, the top cryptocurrency exchanges for PERP are Binance, OKEx, FTX, HitBTC, and Gate.io.

Now, let’s proceed to the next part of this PERP technical analysis for 2022.

Perpetual Protocol (PERP) Price Analysis 2022

Currently, PERP holds 161st place on CoinMarketCap. But will the latest upgrades, development, and changes in the PERP blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this PERP price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for PERP/USDT, we can deduce that the price of PERP might get bullish in some days since the price is consolidating at the first half of the channel from the top. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 1Day chart is 50.35.  This shows that PERP is showing a strong trend since its RSI lies between 50 and 70. his value can trigger a bullish run if more buyers reposition as the value is moving towards the 70 RSI value which is the overbought region.

From the chart above, the 200-MA is above the 100-MA which means that long-term investors would gain. However, since the gap between the two moving averages is large and both moving averages are above the recent candlesticks, there might be consolidation before a strong bullish run.

Perpetual Protocol (PERP) Price Prediction

The chart below shows that PERP has performed great over the past few days. Moreover, the PERP price shows a bullish trend. If this trend continues, PERP might run along with the bulls, overtaking its $6.99 resistance1 level and move higher to $19.83 at resistance4, the 2022 bullish signal.

Conversely, if the investors turn towards the crypto, the bears might take over and push PERP from its uptrend position. In simpler terms, the price of PERP might plummet to almost $2.97, a bearish signal.

Meanwhile, our long-term PERP price prediction for 2022 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.

Perpetual Protocol (PERP) Price Prediction 2022

If this bullish trend continues, PERP will reach $19.83 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $11.35. Then the rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $20 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Perpetual Protocol (PERP) Price Prediction 2023

If PERP holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $40, making it not plummet but play consistently.

Perpetual Protocol (PERP) Price Prediction 2024

As per the latest upgrades, developments, PERP price prediction, and new project forecasts of the platform, PERP investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of PERP in the crypto market, and it will be the best investment as the price can spike and reach around $80.

Perpetual Protocol (PERP) Price Prediction 2025

In the next four years, PERP prices could rise up to $100. More so, reaching this level could not be so difficult for PERP as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that PERP has a high possibility of reaching a new ATH soon in the next four years as per the prediction.

Perpetual Protocol (PERP) Price Prediction 2026

In the next five years, PERP prices could rise up to $150. More so, reaching this level could not be so difficult for PERP as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that PERP has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

PERP has a bright future ahead of it in 2022. With the ongoing developments happening within the PERP ecosystem, as well as in the overall crypto market, we may see PERP reach new heights.

Bullish PERP price prediction for 2022 is $20. As said above, it may even reach its new ATH if investors have decided that PERP is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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