Phala.Network vs Tether Goes Bullish | 300% Potential ProfitsWe have a situation with Phala.Network where both pairs are looking bullish now, the PHABTC and PHAUSDT.
This is PHAUSDT (Phala.Network vs Tether) on the daily timeframe.
We have a high volume breakout that pushed prices above EMA10/21, EMA50 is still being challenged today.
Seeing the strong RSI and how the PHABTC pair is going, we can expect this one to follow (green arrow).
Nice target at 300% but we can first at 20%, 30%, 50% or so... We secure our trade, rebuy and reload and then wait for some more.
You can find additional details on the chart.
Namaste.
PHAUSDT
PHALA, NICE PROJECT! >_-Phala Network is a privacy-preserving cloud computing service, which offers computing power comparable to existing cloud services and protects the privacy of managed programs. Based on TEE-Blockchain Hybrid Architecture, developers can deploy confidential smart contracts running inside the TEE Enclaves in the CPU.
Phala is also based on Substrate, and will run as a parachain of Polkadot ecosystem.
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It is technically in a great support of static, dynamic and golden 61.8 Fib step...
PHA update-- possible playoutAfter my previous publication the price had a breakout attempt, but it was rejected (that was expected). Now- If the price manages to stay above the area of highest volume, we may see another breakout attempt soon. Otherwise, it will go back to accumulating with occasional spikes and this phase could last another weeks, months, who knows... If the momentum is lost, we may even see a pullback to one of the support levels.
Which scenario is most likely to happen? Let me know in the comments!
PhalaNetwork on the edge of breaking outPhalaNetwork is gonna be looking for a breakout soon. There has been a long period of price ranging. An aggressive entry would be somewhere around 0.84 (now), more controversial is to wait for the breakout, and then enter at a first given pullback. After doing a brief research, the project seems to have solid fundamentals and it runs on PolkaDot.
PHA - Phala Crosschain privacyPhala are already live on KSM. Currently the primary privacy project in the DOT / KSM ecosystem and could be one of the main crosschain cloud compute platforms in the future.
Chart also looks bullish. Massive consolidation triangle on the daily, and the RSI has broken resistance.
Some bullish news could be on the horizon as well regarding partnerships.
PHA - Possible ParachainPhala is one of the more commonly cited projects with a shot at parachain status on Polkadot.
Technicals look bullish at the moment as we have completed a 5 wave move up as well as what looks like a running flat correction.
I'm never sure how to deal with those first day pumps in terms of wave count, so we have completed 1 or 3 of 5. Anyone with thoughts on those first day pumps in terms of wave count, please let me know.
PHA is looking 'phantastic'Great sideways movement since it got added on Binance. Lots of chop in the same area and it looks like re-accumulation to me. The trend is very clear and still up and I like how it is essentially back to where it had started trading on Huobi. Usually these turn into massive moves to the upside ones this range is resolved. Very bullish