$691,000 PERP Deposit by Perpetual Protocol Foundation Amid 31% Price Surge: Traders React

A crypto trader pointed out that If you’ve been sitting on the sidelines, waiting for the perfect moment to jump into the $PERP market, that train has already left the station.

In the world of trading, the pivot point is your North Star. It’s the price level that traders keep a hawk’s eye on, as it often indicates a potential reversal in market direction. For $PERP, this is the moment of truth. There’s a high likelihood that the price will experience a bounce at this pivotal juncture. So, keep your eyes peeled and your fingers ready to click that ‘Buy’ button.

Let’s not sugarcoat it; the market can be as fragile as a house of cards, teetering on the edge of collapse. If you’re looking to short $PERP, tread carefully. The ideal shorting opportunity may only present itself if the price reaches the 0.94 area. Keep an eye on the Price Action (PA) on Lower Time Frames (LTF). If you see the structure start to wobble, that’s your cue to enter with a minimal margin and leverage.

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$PERP recently exhibited a classic ‘Double Bottom’ pattern, flipping the 0.46 resistance into a support level on the 1-Day (1D) chart. This is a bullish indicator, signaling that the asset is likely to experience upward momentum. The next target? A push for the 0.55 levels. And if it manages to flip that too, brace yourselves for a meteoric rise to the 0.65-0.75 range in the short term.

The Perpetual Protocol Foundation Wallet: The Mover and Shaker

Here’s something to chew on: The Perpetual Protocol Foundation Wallet recently deposited 903K $PERP (equivalent to $691K) into Binance. This move came just three hours after the price of $PERP surged. But that’s not all! The Foundation has been consistently depositing $PERP into Binance every month from March to August, totaling an eye-popping 7M $PERP ($4.62M).

The $PERP market is a dynamic landscape, teeming with opportunities and pitfalls. Whether you’re a bull or a bear, the key to success lies in your ability to adapt and make informed decisions. So, keep your wits about you and may the trading gods be ever in your favor!

If you’re still skeptical about the bullish momentum of $PERP, let the numbers do the talking. As of now, the live price of Perpetual Protocol stands at a robust $0.7167 . But what’s truly jaw-dropping is the 24-hour trading volume, which has skyrocketed to a staggering $177,343,335.66 with over 600% surge. This isn’t just a blip on the radar; it’s a full-fledged financial phenomenon. The asset has surged by 31.27% in the last 24 hours alone

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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