Perlin Is Moving | More Growth Or Fall? | TutorialPerlin (PERLBTC) made a move yesterday and managed to close above EMA10, which is a bullish signal... Today, a big rejection is in play as well as a big bear volume bar so we need to be careful as there can be additional fall.
A new All-Time Low (ATL) was hit recently, this will be the main support (bold red line).
Keeping it simple
1) If the main support is broken PERLBTC will test the lower support levels.
2) If the main support holds or isn't tested, then PERLBTC can consolidate (blue arrow) or move higher.
As you can see, there is no prediction here.
You can take action, buy/sell, based on what is happening rather than predicting where the price will go.
As for the chart signals
The MACD is bearish.
The RSI is weak, not strong enough.
A big red volume bar just showed up. The green volume on the bounce is below average so there isn't much strength on that small jump.
Bullish divergence is building up with both the MACD and RSI, but with all the bearish signals above this one isn't enough.
To trade, we must have a plan, what to do if prices go lower? What to do if prices go up?
Now, how you decide if a pair is good to trade before you go and find the support levels, the targets, and the stop-loss?
You use the chart signals. If the signals support the move that you are seeing then you can decide to trade or not.
I wouldn't trade Perlin (PERLBTC) right now, there are too many bearish signals and there are better-looking charts.
All the information shared here is for learning and entertainment purposes only...
THANKS A LOT FOR YOUR CONTINUED SUPPORT.
Namaste.
Perlin
Perlin [PERLBTC] | New Binance AddThis is a new Binance Add (Perlin )
Perlin is a leaderless, highly scalable, PoS smart contract platform with a mission to power the future of decentralized technologies and accelerates the transformation of international trade to a purely digital, autonomous industry.
Wavelet (Perlin's ledger) is a highly scalable, PoS smart contract platform that achieves a throughput of 31,000+ TPS and consistently has 0 to 4 second time to finality, all of which is made possible by Wavelet, a DAG-based probabilistic consensus mechanism. It also has a leaderless proof of stake protocol which does not use committees or delegation ensuring the security properties of bitcoin but speeds comparable to private chains.
Perlin is pursuing several adoption strategies but is currently focused on the $US 11 Trillion international trade market with its distribution partners such as the International Chamber of Commerce, Enterprise Singapore, Dubai Chamber of Commerce and others.
The biggest IEO on Binance... Share your thoughts in the comments section.
Where is Perlin headed?
How do you like the project?
Are you in?
What about the team behind it?
Thanks a lot for sharing.
Namaste.
