bullish

Perpetual Protocol

Show

Read

<p>The price of Perpetual Protocol (PERP) has been experiencing significant upward momentum, driven by recent technical analysis and market sentiment. PERP price is up by 30% in the last 24 hours, and the bullish trigger has attracted numerous buyers, resulting in a substantial price increase.</p>
<p>The catalyst for this surge can be traced to market observations shared by analysts. One notable voice in the community, identified as CryptoBull_360, noted a strong bullish breakout from a broadening wedge pattern on the daily timeframe.</p>
<p>This breakout has led to expectations of a robust rally, with projections suggesting a potential increase of around 150% in the mid-term.</p>
<p><strong><em>Read More: <a href="https://captainaltcoin.com/sui-chart-signals-price-bounce-to-2-60-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow">SUI Chart Signals Price Bounce to $2.60, But There’s a Catch</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="534" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-1024x534.png" alt="" class="wp-image-569742" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-1024x534.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-300x156.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-768x400.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-1536x800.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-2048x1067.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-288x150.png 288w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-672x350.png 672w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760-788x410.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-760.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="detailed-breakdown-of-the-price-action">Detailed Breakdown of the Price Action</h2>
<p>The <a href="https://www.coingecko.com/en/coins/perpetual-protocol" target="_blank" rel="noopener noreferrer nofollow">price action of PERP</a> is characterized by the formation of a broadening wedge pattern, which is marked by a series of lower lows and higher highs. This pattern suggests an expansion of volatility and has been historically associated with significant price movements.</p>
<p>The recent breakout from the wedge pattern has been notably strong. The price has moved sharply above the resistance line, and this upward movement has been confirmed by a significant increase in trading volume. The rise in volume indicates heightened buying pressure and increased market participation, reinforcing the bullish trend.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/xrp-ledger-on-chain-metrics-surge-is-xrp-price-pump-on-the-horizon/" target="_blank" rel="noopener noreferrer nofollow">XRP Ledger On-Chain Metrics Surge – Is XRP Price Pump on the Horizon?</a></em></strong></p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><a href="https://x.com/CryptoBull_360/status/1848166088225484817" target="_blank" rel="noopener noreferrer nofollow">According to CryptoBull_360</a>, the current bullish momentum could lead to a price rally of approximately 150%. This target aligns with a previous resistance zone, suggesting that as the price approaches this level, profit-taking may occur.</p>
<p>The increase in trading volume during this breakout is a crucial indicator of the move’s strength. Rising volume typically signals that the bullish sentiment is backed by substantial market interest, which bodes well for the sustainability of the upward trend.</p>
<p>Following the breakout, prior resistance levels may now serve as support. The green box on the chart indicates a resistance level that PERP might encounter as it aims for the projected 150% target. This area is significant, as it could influence future price movements and trader behavior.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-perpetual-protocol-perp-crypto-price-pumping/" rel="noopener noreferrer nofollow">Why Is Perpetual Protocol (PERP) Crypto Price Pumping?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Perpetual Protocol (PERP) Crypto Price Pumping?

Table of Contents

CaptainAltcoin

Other articles published on Oct 21, 2024

7 Million Users Join Avalanche’s Off The Grid Game

Cosmos Hub's Liquid Staking Code Faces Security Risks With North Korean Links

142 Trillion SHIB: Will Shiba Inu's Key Support Stand?

SUI Meme $HIPPO Enters Into Charity Partnership With Moo Deng’s Zoo

Crypto Predictions 2025: What to Expect and How to Prepare

After Neiros 40,000% Rally, We Take A Look At 2 Altcoins That Could Be Next

Join our free newsletter for daily crypto updates!