Polymesh (POLYX) has experienced a significant surge in price, increasing by almost 20% in the last 24 hours. This surge has been driven by buying pressure, which has also led to a 105% increase in trading volume. As a result, POLYX has become one of the top gainers to start the new week. This pump in price may not come as a surprise to some, as signs of growth were already visible two weeks ago when POLYX broke from consolidation under the $0.1494 level with strong momentum.
POLYX is an institutional-grade permissioned blockchain designed for regulated assets. It aims to streamline outdated processes and solve challenges related to governance, identity, compliance, confidentiality, and settlement. Despite facing resistance at the $0.2839 level, momentum remains strong with the Relative Strength Index (RSI) pointing upwards and the Awesome Oscillator recording large histogram bars in the positive territory.
If buying pressure continues to increase, Polymesh price could break through the resistance at $0.2839 and potentially reach the psychological level of $0.3000 or even higher at $0.3138. However, if there is a rejection at the resistance level, the price could drop to the 61.8% Fibonacci retracement at $0.2323 or lower to test the 50% Fibonacci at $0.2071. In a worst-case scenario, Polymesh could fall back into its consolidation zone below $0.1494 or test the support floor at $0.1003.
Given the potential risks associated with Polymesh, it may be worth considering alternative options such as yPredict (YPRED). YPRED is a project that provides AI-generated trading signals created by top AI experts. It offers data-driven insights for better-informed trading decisions and covers various industries beyond just finance.
The yPredict platform utilizes artificial intelligence and machine learning to analyze real-time sentiment and find effective indicators for different crypto assets. It also allows AI enthusiasts to monetize their predictive models. With endorsements from popular media platforms and a growing ecosystem, yPredict is positioned to offer valuable analytics and insights to traders and investors.
Currently, yPredict is in its presale stage, with each YPRED token selling for $0.1. Early entrants have the potential to make a 20% profit upon listing, as the token will be listed for $0.12. The presale has already reached impressive sales numbers, showing strong interest in the project.
In conclusion, Polymesh (POLYX) has experienced a significant price surge driven by buying pressure. Despite facing resistance, momentum remains strong, indicating the possibility of further gains. However, it’s important to consider alternative options such as yPredict (YPRED), which offers AI-generated trading signals and data-driven insights for better-informed decision-making. The presale for YPRED tokens is currently ongoing and has garnered significant interest.
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