$PERP has experienced a significant downturn, with a 5.397% drop in the past 24 hours.
The price oscillated between a high of 0.238 and a low of 0.2173, indicating increased volatility.
Bollinger Bands show a tight range, with the upper band at 0.2346 and the lower band at 0.2168, which suggests potential for a breakout.
Support at 0.2173 holds, while resistance is seen at 0.2352.
The overall downtrend points to weak momentum, likely exacerbated by macroeconomic factors such as inflation fears and regulatory uncertainties affecting the broader crypto market.
Bitcoin's influence remains unclear, but any sudden movements in BTC may further impact PERP.
Traders should adopt a short-term strategy given the current volatility and resistance levels.
Key takeaway: With the market in a downward trend, caution is advised; monitoring Bitcoin's activity is essential for informed decision-making.
