Perpetual Protocol (PERP) Technical Support and Resistance Levels:
Support Levels:
Primary Support: $0.2465 — This level has been identified as a key support zone, with price predictions suggesting a range between $0.2465 and $0.2515 for June 2025.
Secondary Support: $0.2434 — This is the recent intraday low, indicating a potential support level if the price declines further.
Resistance Levels:
Immediate Resistance: $0.2515 — This level is at the upper end of the predicted trading range for June 2025.
Long-Term Resistance: $0.3612 — This is the upper bound of the forecasted trading channel for 2025, suggesting a significant resistance level if the price trends upward.
Market Sentiment and Outlook:
The current market sentiment for PERP is bearish, with technical indicators showing a majority of sell signals. However, some forecasts predict a gradual recovery in the coming months, with potential gains of up to 47.19% by December 2025 if PERP reaches the upper price target of $0.3612.
Investment Considerations:
Given the current bearish sentiment and the identified support and resistance levels, investors should exercise caution. Monitoring the price action around the $0.2465 support level and the $0.2515 resistance level can provide insights into potential breakout or breakdown scenarios. If the price breaks above the immediate resistance, it may signal a bullish trend toward the long-term resistance at $0.3612. Conversely, a drop below the primary support could indicate further downside risk.
