Home
News
•ARRR/USD is currently priced at $2.18 and is down by 3.39% over the past day
•The technical indicators suggest the bearish momentum to continue
•The trading volume have increased by 25% over the past day
Short Term View: Bulls endeavors fall flat in the face on selling pressure
The Pirate Chain price today is $2.18 USD with a 24-hour trading volume of $1,063,706 USD. Pirate Chain is down 3.39% in the last 24 hours.With markets mainly in the red on Tuesday, finding a coin that withstood the storm was no mean feat. However, Pirate Chain has managed to evade the bearish pressure which led to it losing only a minute proportion of its value. The trading volumes have increased over the past 24 hours,while the Volume to Market Cap Ratio stands at 0.002512.
April 23,2021 marked the all time high for the coin as it reached $16.90. A series of corrections since,however, has taken the luster off its value. It is currently in the midst of a downtrend, with the altcoin trading below the 20 and 50 SMA on the 4 hour chart. Pirate Chain coin is potentially trading inside a parallel channel and is facing short term resistance at $2.64. The neckline or support, on the other hand, lies at $1.73.
Long Term View for Pirate Chain Coin
The technical indicators for Pirate Chain coin suggest the bearish sentiment to prevail in the short term ,which could see the altcoin continuing to move downwards. The RSI indicator stands in the neutral territory at 59.98,which suits the bears perfectly for the near term. The MACD on the other hand, shows the MACD line trading below the signal line on the daily chart. The weakening histograms strengthen the hands of the bears as they look to assert their dominance on the market.
Conclusion
The technical indicators for Pirate Chain paint a bearish picture which is likely to see the altcoin continuing to move downwards. Hence the nearest support in this scenario, becomes of utmost importance to the bulls .
Support: $1.73
Resistance: $2.64
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
