- In the last 30 days, only 13 green days have been witnessed in PLS crypto.
- The token was launched on May 13th last year.
Pulsechain, initiated by Richard Heart, uses PLS tokens for transaction fees and validators. It aims to enhance Ethereum’s capabilities with faster transactions and fee reductions.
Unique features include PLSX burning to reduce supply, proof-of-stake validation, and bridging assets between Pulse and Ethereum networks. Concerns arise regarding fundraising methods and Richard Heart’s role.
In the last seven days, the market cap of the Pulsechain crypto advanced by 5.9% to $2.6 Billion.
The value of the traded volume for the crypto in the last 24 hours is $19.3K. Moreover, the self-reporting circulating supply of the crypto is 14.81 Trillion PLS and the total supply of the crypto is also the same.
Also, the maximum supply of the PLS crypto is 135T PLS followed by a fully diluted market cap of $23.34 Billion. The all-time high price of $0.0003206 was achieved ten months ago. Since then the price of the crypto has declined by 45.1%.
The sentiment of the crypto is also bullish while the volatility of the crypto is also high resulting in 9.14%. The fear and greed index of the crypto indicates extreme greed. Also, the total value locked for the crypto is $694.73 Million.
PLS Crypto Technical Analysis
The PLS crypto price has been following a strong downtrend for a long time and has been consistently making lower low structures on the chart. Based on the most recent price action, the candlesticks formed on the chart are bearish.
In order to witness any change in the trend of the crypto the price needs to break above the swing high of $0.3976. At the given following level, a strong change of character level exists whose breakout can push the price of the crypto to higher levels.
PLS/USDT Chart by TradingView.com
The trading price of the PLS crypto is trading below the crucial EMAs. The 20,50 and the 200-Day EMAs are trading in a bearish cross indicating a strong downtrend on the daily timeframe chart.
The ADX supports the downtrend as the Average directional index is trading at a level of 23.3. This indicates that the downtrend is again gaining strength as the ADX line is gaining from the lower levels.
The MACD indicator indicates weakness on the chart of the PLS crypto. This is followed by a bearish crossover of MACD and the signal line together trading below the zero level.
Summary
The PLS crypto has experienced a downward trend, with few green days in the past month. Despite bullish sentiment, the price remains below key levels. With concerns over trading platforms and Richard Heart’s role, the market cap has increased, but technical analysis suggests a bearish outlook until a breakout above $0.3976 occurs. Note that it is a new cryptocurrency and volatility could be wild and that predictions are based on scanty data.
Technical Levels:
- Support Levels: $0.0500 and $0.0700
- Resistance Levels: $0.690 and $1.02
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.