PixelVerse Price Prediction: Can PIXEL Go Longs From $0.000211?

• PIXEL coin is currently trading at $0.000285.
• PIXEL coin making double bottom pattern.

PixelVerse is a virtual platform built on a blockchain gateway to interact with different smart contracts. PixelVerse is a metaverse offering the experience of entertainment and content for users all over the world.

Will PIXEL Price Continue its Consolidation Phase?

In August 2022, the PIXEL/USDT broke the support level of $0.000811 and the price was seen falling and got into the range between $0.000515 to $0.000392. In November 2022, the price broke the $0.000392 level and continued its fall to the $0.000211 level and formed support on that. Buyers moved the price slowly and steadily till $0.000515. The price tried to break the $0.000515 level many times but faced rejection and consolidated in the zone between $0.00515 to $0.000392 for 6 months. In May 2023, the price broke the level of $0.000392 and the price fell to its $0.000211 support again. The price is again in the consolidation zone ranging from $0.000345 to $0.000239. 

In PixelVerse chart, there are many speculative moves from the $0.000211 to the $0.000811 level which shows the randomness in price. 

So, if the price gives the breakout of the $0.000811 resistance level and sustains over it, then a up move is expected in the future till the $0.001191 resistance level. Currently, if the price closes above $0.000345, the price can still move up the $0.000515 level. 

If one looks at the PixelVerse chart, the price has taken support two times from the $0.000211 support level which can also be seen as a double bottom pattern which is strong bullish pattern and the neckline of double bottom is at $0.000515.

The 50 EMA is at $0.000289 and the 200 EMA is at $0.000745 and the price is trading in between them and the 50 EMA is completely sideways while 200 EMA is trending in downwards direction which shows the indecisive nature of the price.

The relative strength index is 47.91 and the RSI line is trending in a downward direction which indicates that the RSI is in neutral zone.

The Supertrend indicates that price of PIXEL is still in bullish sentiment as the price is still trading above the green line. If the price clsose below the green line then a bearish move is expected.

Conclusion 

The price is currently at support level of $0.000211 which seems to be a strong support level. If one sees the chart, the price is also seems to be making a double bottom pattern which is a strong bullish reversal pattern but the PIXEL price had made many speculative move in the range of $0.000211 to $0.000811. 

So, if one sees price closing above the $0.000811 level in future and sustaining over, then an upside move till $0.000811 resistance can be seen in PIXEL chart. For the short term, one see price closing above $0.000345, then a good upside move is expected till $0.000811.

Technical Levels

• Resistance levels: $0.00515, $0.000811 and $0.001191
• Support level: $0.000211

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.