I’m Tai, you may know me as a creator of Light Shadow Box,
I’m also a Technical Analysis crypto investor, here are some thoughts on PRV price action.
I. PRV price history
Take away: PRV tends to react in some critical price milestones:
- $0.5 - $1 - $1.5 - $2 - $2.5
- each time PRV broke the previous price milestones, it flipped that as support and went higher
- Current price milestone to break: $2.5, as long as PRV broke through $2.5, retested it as support, i believe we would see $3 PRV soon.
Another perspective on this uptrend:
II. Past retracements
We’ve had 3 big retracements at: $1 - $1.5 - $2.5
- PRV is maturing by each price jump
- Volume is at peak on this 3rd retracement, but price volatility stays the same (around $0.5)
I do consider PRV is in a healthy uptrend, where it can absorb more trading volume with less volatility.
III. When to buy
In bull market, every retracement can be your buying opportunity
I’ll load more PRV if it meets $2 again,
If $2 cannot hold, 2nd support can be around $1.5
PRV can also react if it meets this trend-line
On 11th Jan, we see a pretty big selling pressure on PRV-USDT,
This can be a first sign of a up-trend ending on PRV, PRV can either go down or side-way consolidations. But still, we have major support ranges as i mentioned above.
It’s all about probability.
[NOT A FINANCIAL ADVICE] the idea is to give some more perspectives for new comers and investors.