Brief Analysis——PERP
Recently, the sentiment of market has been flat, and the movements of most tokens are mainly fluctuating. But there are some Alt-coins that pump during this period. In the past 24 hours, PERP has risen by nearly 60%, becoming one of the hottest tokens in the market. So today we choose PERP as the token for brief analysis.
The project of PERP is a derivative DEX on the OP mainnet. Among the numerous derivatives DEX, the TVL of PERP is not outstanding. The liquidity provision method of PERP adopts the Uni V3 model. There is no major news about PERP in the market recently.
PERP has basically maintained a wide range of fluctuations from 0.36 to 1.20 in the past year. Starting in March, price fluctuated down to near lows. The price had an obvious pump yesterday, and judging from the PERP history, there were almost no green candles of such length and high trading volume. The bulls is strong on the daily level.
Switching to the 1h level, we can see that after PERP reached 0.85, the bears increased, and the gains of the green candle was quickly covered by the red candle. Price remained fluctuating at the top. At this level, the gap between bulls and bears is not that big. Price may remain fluctuating.
What is more interesting is that we can see that in this round of rise, the WTA indicator shows there are a lot of whales involved in the transactions. In the past, when PERP increased and WTA showed increased whale participation, the price continued to rise, but then the price began to fall back after whale participation decreased. Therefore, this time the PERP rise may not end immediately. If "the whales disappeared into the gray ocean," then you need to be careful if they have quietly departed.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
The project of PERP is a derivative DEX on the OP mainnet. Among the numerous derivatives DEX, the TVL of PERP is not outstanding. The liquidity provision method of PERP adopts the Uni V3 model. There is no major news about PERP in the market recently.
PERP has basically maintained a wide range of fluctuations from 0.36 to 1.20 in the past year. Starting in March, price fluctuated down to near lows. The price had an obvious pump yesterday, and judging from the PERP history, there were almost no green candles of such length and high trading volume. The bulls is strong on the daily level.
Switching to the 1h level, we can see that after PERP reached 0.85, the bears increased, and the gains of the green candle was quickly covered by the red candle. Price remained fluctuating at the top. At this level, the gap between bulls and bears is not that big. Price may remain fluctuating.
What is more interesting is that we can see that in this round of rise, the WTA indicator shows there are a lot of whales involved in the transactions. In the past, when PERP increased and WTA showed increased whale participation, the price continued to rise, but then the price began to fall back after whale participation decreased. Therefore, this time the PERP rise may not end immediately. If "the whales disappeared into the gray ocean," then you need to be careful if they have quietly departed.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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