The XPR token downfall reaches the 50% Fibonacci level, teasing a bullish reversal to the $0.005 mark.
Proton aims to provide a secure, verified identity account that is integrated with a financial settlements layer. It allows users to directly link this identity with fiat accounts, pull funds and buy crypto, and use that crypto seamlessly in apps, all without sending any of the user’s private, sensitive information.
Proton removes the concept of sharing private keys directly with merchants by creating a permission-less layer that exists on top of traditional card networks and banks.
Past Performance of XPR
After facing the supply dump near the $0.005 mark, the XPR coin price falls to the $0.0030 mark. As a result, the downtrend generates a resistance trend line. Thus, price action resonates under a descending triangle.
At press time, the XPR price was trading at $0.03268 with a downfall of about 2.64% in the past 24 hours. Moreover, the intraday trading volume of the coin has fallen by 30%.
XPR Technical Analysis
The XPR coin price reached the 50% Fibonacci Level due to the pullback. However, the long tail formations indicate lower price rejection. As a result, the coin price can shortly take a bullish reversal.
Hence, a breakout of the resistance trend line can be considered a bullish entry spot with minimum risk. Upon breakout, Pivot Points indicate supply levels at $0.050 and $0.060. However, a bearish fallout can find support at the $0.026 and $0.020 mark.
The RSI slopes struggle to rise above the central mark, despite multiple attempts. As a result, the RSI indicator generates a weak sell signal.
The MACD and the Signal line maintain a positive alignment despite being below the zero line. Moreover, the histograms are divergent to the downfall. As a result, the MACD indicator generates a buy signal.
As per the technical analysis of the Proton token, XPR price action can turn extremely on either side, extremely fast. The entry opportunity awaits the breakout of the resistance trend line or the fallout of the $0.03 mark. However, the technical indicators side with the bulls.