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- The POWR coin price is currently trading at $0.2207.
- The price is currently sustaining above its strong support of $0.2055.
The POWR coin price prediction is bullish for the upcoming months. It is showing potential in the increase in its value in the future.
The POWR coin price, for one year, was consolidating in the range of $0.1187 to $0.2055. Recently it has given the breakout of the range and has risen by 117% since then. The volume bar also spiked at the time of the breakout.
It denotes the big crypto investors who were interested at the time who bought the coin at a lower price and were expecting good performance in the future.
The price rise halted at $0.4939 from where the sellers tried to make it fall. Luckily, the buyers were active at the $0.2055 support zone, stopping the price from its further fall.
As long as the price is sustained above the $0.2055 level, the chances of the continuation of the bull run is alive.
Currently, the price is trading above the $0.2055 support zone with a current market value of $0.2207. It has registered a decline of $1.95% in the last 24 hours.
Will the Buyers Defend the Support Level in the POWR 1-Day Chart?
The POWR coin is currently trading above the 50-day and 100-day EMA lines. It denotes that the price is under the control of the buyers and has almost taken support from the 50-day EMA and formed a bullish hammer candle. It shows the buyers are getting back into action and are ready to make the price rise.
The relative strength index is at 50.77 which is the neutral territory. The downward sloping of the RSI line was caused as it faced high buying pressure which made it go into the cool-off mode. If the price starts to move in the upward direction again it may adjust itself according to the price by taking support from its 50 level.
Will the POWR Coin Resume its Uptrend?
The POWR coin price is currently sustaining above the $0.2055 support level. The buyers are trying to defend this level with a high buying volume and support of the EMA lines.
Thus, there is a chance that the buyer may defend this level as the previous strong buying came from this level with a strong rise in buying volume. So we can expect a continuation of the uptrend to its first resistance at $0.3602.
The breakout of this level will trigger the next phase of the bull run and the price may to its next resistance at $0.4943.
The breakdown of the $0.2055 support zone may create chaos among the buyer which may force them to square off their position. After which a fall in price may happen where it may fall to its next support at $0.1187.
Conclusion
The POWR coin price prediction is bullish. The price is expected to continue its uptrend from the current support level which is supported by the strong buying. The fall in price can also be seen as a profit-booking scenario. Investors should look out for strong bullish candles such as bullish hammer and engulfing candles supported by strong buying to be in the uptrend.
Technical levels
Resistance Levels: $0.3602 and $0.4943
Support Levels: $0.2055 and $0.1187
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.
