The cryptocurrency market is experiencing a notable downtrend, with $PEOPLE 's price declining by 4.647% in the last 24 hours.
The price fluctuated between a high of 0.01847 and a low of 0.01688, indicating increased volatility.
Bollinger Bands suggest potential consolidation, as the upper and lower bands are close together at 0.01768 and 0.01713 respectively.
Key support is identified at 0.01688, while resistance sits at 0.01794.
Macroeconomic factors, such as inflation data and regulatory news, contribute to market uncertainty.
Currently, Bitcoin's influence on PEOPLE is unclear, suggesting independence in price movements.
Traders should consider a short-term strategy due to heightened volatility and the overarching bearish trend.
Unique insight: in a downtrend, maintaining vigilant risk management is crucial to navigate potential sharp moves.
