Perlin Price Analysis: PERL attempting to break resistance at $0.099 in preparation for consolidation

TL;DR Breakdown

• Perlin price analysis is bullish for today.
• PERL/USD retested the previous low today.
• PERL is rejecting further downside around $22.

The 24-hour Perlin price prediction is indicating bullishness following an attempt by buyers to breach the 100-day simple moving average and break resistance at $0.0940. Therefore, we can remain enthusiastic that the price action of PERL/USD will rally higher and set a higher low over the next 24-hours.

The overall cryptocurrency market is trading in the bullish region with market leaders BTC and ETH both gaining around 1 percent. Solana is the worst performer of the day with a 24-hour negative change of 12 percent. We are expecting the virtual assets market to post further gains as we enter a new week.

Perlin price movement in the last 24 hours: PERL retests previous low above 0.08961

PERL/USD traded in a range of $0.08961 – $0.09921, indicating substantial volatility over the last 24 hours. Perlin’s total trading volume went down by 81 percent and totals $6.64 million. Meanwhile, the total market capitalization trades around $45.51 million.

PERL/USD 4-hour chart: PERL to rally overnight?

On the 4-hour Perlin price analysis chart, we can see PERL price action rejecting further downside as bulls prepare for another rally higher.

PERL/USD 4-hour chart. Source: TradingView

Perlin price action traded with strong volatility over the past week. After a rally to the $0.1 mark, PERL/USD could not reach further upside and retraced to $0.08961.

From there, a lower high was set around $0.099, with a strong decline over the following days. PERL/USD lost more than 30 percent from there until support was found at $0.0920. Rejection for further downside was seen over the following days, with PERL moving to the $0.095 mark.

After undergoing consolidation, the coin recorded another spike today. The Perlin price rapidly dashed back to the $0.09 mark, setting a slightly higher low at $0.08961. Therefore, as long as a further downside is not seen, we expect PERL/USD to rally higher over the next 24 hours and attempt to reach further highs over the weekend.

Perlin Price Analysis: Conclusion 

Perlin price analysis is bullish for the next 24 hours as the market retested the previous low and is preparing to rally once more during press time. As long as the previous low holds, we expect PERL/USD to move above the $24.5 current high and see further upside over the weekend.

While waiting for Perlin to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

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.