Can the 50 EMA Spark a Bullish Resurgence For PRIME Crypto?PRIME crypto bounced back after retracing the 50-day exponential moving average.
At the time of writing, the Echelon Prime crypto was up nearly 1.27% and was trading close to $19.38.
The PRIME crypto has been trading swiftly in Intraday on Monday and has added over 1.27% to its market capitalization. The current market capitalization has surpassed the $693.4 Million and it ranks 110th in the overall crypto market.
During the previous week, the Echelon Prime crypto experienced volatility, with major ups and downs. In the initial sessions, there was a selling pressure. However, in the later sessions, the bulls seemed to have returned, and the price rebounded after retracing the 50-day EMA.
The question on everyone's minds now is whether the bulls can continue to gain momentum this week.
Can Bulls Keep Gaining This Week?
The last week saw a recovery in the later sessions. the bulls might try to capitalize on this week and attempt to reclaim the previous high, but they require volume inflow support to do so.
The PRIME crypto has been trading slightly higher in Intraday today. However, the volume inflow has dropped by almost 22.06% in intraday today. This decrease in volume inflow contradicts the possibility of a resurgence. The intraday volume received was $5.363 million.
Both short-term and long-term trend outlooks are bullish, which may drive the overall trend on the higher side. However, volume support is required to push the price further.
Social Sentiment Keep Growing?
The social sentiment tools, such as social volume and social dominance, provide valuable insights into the shifts in the behavior of social media users regarding the Echelon Prime cryptocurrency.
These tools help in analyzing user activity across various platforms, including Twitter, Telegram, Instagram, and others. The social media activity informs about any updates or changes occurring within the cryptocurrency community.
Moreover, the social activity chart displays that the social dominance and social volume of the PRIME crypto have drawn a positive curve in the short term. This upward trend is a promising sign, indicating a healthy growth in the number of social users interested in the Echelon Prime cryptocurrency.
Prime Crypto Price Prediction April 2024.
The PRIME crypto price prediction for April 2024 shows that the crypto may advance to a high of $27.9 if buyers are able to hold the price above the 20-day exponential moving average. Whereas, the less optimistic analysts estimate a price target of $13.89 on the lower side after the breakdown below $17.52 and 50 EMA.
Conclusion.
The PRIME crypto has been trading with volatility but has added over 1.27% to its value. The market capitalization has surpassed $693.4 million and ranks 110th in the overall crypto market. Both short-term and long-term trend outlooks are bullish, but volume support is required to push the price further.
Social sentiment tools indicate a healthy growth in the number of social users interested in the Echelon Prime cryptocurrency. The PRIME crypto price prediction for April 2024 shows that the crypto may advance to a high of $27.9, while less optimistic analysts estimate a price target of $13.89.
Technical levels:
Support levels: $17.52 and $13.89
Resistance levels: $21.72 and $27.9
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
