$POWR has experienced a notable price decline of 8.063% in the past 24 hours.
The trading range between the high at 0.1672 and low at 0.1512 indicates heightened volatility.
Bollinger Bands suggest that the price is approaching the lower band at 0.1487, which may act as a support level.
Currently, the broader market is in a downtrend, influenced by macroeconomic concerns, including inflation and regulatory scrutiny.
Bitcoin’s correlation appears weak, suggesting POWR movements are largely independent at this moment.
Traders should consider a short-term approach, capitalizing on volatility while being cautious of potential further downturns.
Key takeaway: Watch for price action near support levels, as these may indicate a potential reversal.
