Powerledger Price Analysis: POWR Token Mooning, Is It Ready For A Parabolic Rally?

The POWR token surged more than 85% in just two trading sessions. One of the reasons that could have gathered the interest of crypto inventors would be the POWR token listing on a well-known cryptocurrency exchange, ‘Coinbase.’ The token price has breached the previous swing high of $0.671, with an insane amount of boast in the volume activity.

Key technical points:

• The POWR token price trying to sustain above the $0.671 resistance 
• The daily RSI line reached the overbought territory 
• The intraday trading volume in the POWR token is $2.2 Billion, indicating a 14289.6% hike

Source- POWR/USD chart by Tradingview

The POWR token initiated an impressive recovery after the token price bounced from the $0.132 support. The new rally is trying to break out from the previous swing high of $0.67, which would trigger a significant rally in this token.

The Relative Strength Index value at 74 indicates a strong bullish sentiment for this token. However, the RSI line also displays a bearish divergence in this weekly chart.

POWR/USD Chart In The daily Time Frame

Source- POWR/USD chart by Tradingview

The POWR token resonated in a symmetrical triangle pattern in the daily time frame chart. The token consolidated in this region for more than two months, until November 15th, when the token price gave a massive breakout from the resistance trendline, with a huge surge in the volume activity.

The POWR token price gained over 85% in just two trading sessions and has breached the previous swing high of the $0.671 mark. If the coin manages to sustain above this crucial resistance, the crypto traders can grab an excellent long opportunity in this coin.