TL;DR Breakdown

• Perlin   – the native token of PerlinX rallied by 140 percent.
• Average 24-hour trading volumes spiked to $122 million from  $3 million
• Spike follows the release of registration ledger, staking feature, and BSC-based PerlinX

Perlin price analysis : General price overview

Perl(PERL)  – the native token of the asset liquidity engine PerlinX rallied by 140 percent, reversing a June 8 low of $0.052 all the way to $0.134. The coin has attracted plenty of investment interest as the average 24-hour trading volumes spiked to $122 million from as little as $3 million.  Perl achieved this milestone in such an untimely time when almost the entire cryptocurrency market is facing a bloodbath. It’s no easy fit for a low-price token to attract such momentum and win the hearts of investors when each coin in the market is competing for investment. 

Well, Perl surprised the crypto community after surging more than 100 – percent following the release of its registration ledger, an attractive staking feature, and the launch of PerlinX on the Binance Smart Chain. These three features will allow users to stake tokens and earn yields on PerlinX. The moving average convergence divergence has marked a bullish cross on the coin’s 1-hour chart, and the RSI is lying within the buying zone. Perl’s price is reaching out for the middle bollinger line and there are high chances of striking several white soldiers on the 4-hour chart and break above the moving average at $0.11.

Perlin price movement in the last 24-hours: Buyers advocating for higher highs

Perlin price has been in the green zone for the last couple of days and holds a lot of promise for both new entrants and established investors. The coin opened the daily trading chart at a price of $0.108, formed several head-with-shoulder patterns before correcting at a daily high of $0.11. Perl price analysis intraday low for today’s daily chart is $0.1010. Buyer volumes are still incoming, as the recent rally is only the beginning of the leg. Traders are more likely to long their position and anticipate higher highs in the coming weeks. 

Perl 4-hour price chart : Volumes of buyers

A long green candlestick has formed on the 4-hour chart with a high at the middle line of the Bollinger at $0.1043 and rejection at $0.1038. This is an attempt by buyers to push the price and form another support above the current major support passing through $0.1035. At the time of writing, Perlin(PERL) is trading at $0.1036 against the US dollar. The Bollinger band is downsloping with an expanding distance between the lower and upper bands, a signal for incoming volumes and trader activity. 

Perlin price analysis conclusion

Perlin has gained popularity around green energy movements and blockchain proponents aiming to implement eco-friendly blockchain solutions. The project’s website says PERL is attempting to decentralize and democratize the bio-economy through tokenization and liquidity pools. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Source: https://www.cryptopolitan.com/perlin-price-analysis/