Perpetual Protocol Not Dead Yet (TAC-S7)Doesn't look good. If you follow, you know that I mention the mid-March low and the 3-Feb. low. A bullish reversal signal we've been tracking moves around these levels. When a pair recovers above one of these, or both, after the 7-April crash we take it as bullish.
PERPUSDT looks bad because it is still trading below both lows, March and Feb. There is a positive signal though, there is really high volume in early April, and this is really high.
This can signal that the low is in and the current retrace will end as a higher low. Needless to say, this would be followed by a wave of growth.
Another interpretation can be around one final drop for this pair, say it gets delisted from a major exchange, this causes one more flush, huge flush, and only after this flush we can experience growth. This is just a possibility. The chart is weak and does not have many signals that support a recovery but, the market is one. What one does, the rest follows. And the volume is in.
PERPUSDT doesn't look good, but everything can change in a matter of weeks, 2-3 weeks.
We can revisit again and see what the chart says. Still, if you are confident in this project, there is room to accumulate. If you have many options and have to choose, many, many pairs look better than this. While this isn't a sure miss, it is better to go with those with lower risk. Some have lower risk or stronger bullish signals which means that these can move sooner or with a higher level of certainty.
Namaste.
