Paris Saint-Germain Fan Token (PSG) Technical Analysis 2021 for Crypto Traders

Paris Saint-Germain Fan Token (PSG) Technical Analysis 2021 for Crypto Traders

In Paris Saint-Germain Fan Token (PSG) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about PSG to analyze the future trend of the cryptocurrency

PSG is a fan token for the football club Paris Saint-Germain. A fan token is a cryptocurrency created by a sports team that can be used to purchase merchandise, vote on important club decisions, and other things. PSG’s fan token was introduced last year and is traded on the Chiliz cryptocurrency exchange.

Paris Saint-Germain Fan Token (PSG) Current Market Status

According to CoinGecko, the PSG price is trading at $38.85 with a 24-hour trading volume of $279,007,409, at the time of writing. However, PSG has dropped to 9.24% in the last 24 hours.

In addition, PSG has a circulating supply of 1,288,396 PSG coins. Currently, PSG trades in Binance, Upbit, HitBTC, ZT, and Gate.io. 

Paris Saint-Germain Fan Token (PSG) Technical Analysis 2021 

Paris Saint-Germain Fan Token (PSG) holds the 339th position on CoinGecko right now. The recent development and upgrades might push PSG to reach new heights. Now, let’s deep dive into the PSG technical analysis 2021. The daily time frame chart of Paris Saint-Germain Fan Token (PSG) is shown below.

PSG/USDT Channel Trend Pattern (Source: Tradingview)

A trading channel is a channel drawn on a price series chart of a security by graphing two parallel trendlines at resistance and support levels. While range trading is satisfying, the bigger trading opportunity arises when there is a channel breakout. When this happens and is confirmed, the likelihood of a quick, significant move in the security’s price rises rapidly.

Currently, PSG trades in a range of $38.85. If the price breaks the trend line resistance level of $77 then it will lead to a further surge up to the $262 level. If the pattern trend reverses and continues to the drop, then it will reach the $29.66 level soon.

Paris Saint-Germain Fan Token (PSG) RSI

The below chart shows the relative strength index (RSI) of PSG. 

PSG RSI (Source: TradingView)

As shown in the above chart, RSI remains at 61.35. This shows that PSG’s price is in a nearly overbought state. This shows that traders have to trade carefully, however, major price reversal could take place.

Paris Saint-Germain Fan Token (PSG) RVOL

The below chart shows the Relative Volume of PSG. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.

PSG RVOL(Source: TradingView)

Currently, the RVOL of PSG lies below the cutoff line which represents the weaker participants in the current trend.

Paris Saint-Germain Fan Token (PSG) Moving Average

Paris Saint-Germain Fan Token’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.

PSG MA (Source: TradingView)

Currently, PSG is in a bullish state. However, PSG price is above 50 MA (short-term), and it has a high chance of moving higher. Furthermore, PSG price is above 50 MA and 200 MA (long-term), so it is completely in a bullish state. Moreover, there is also a possibility of Trend reversal at any time.

Paris Saint-Germain Fan Token (PSG) Price Comparison With Bitcoin

The below chart shows the price comparison between PSG and BTC. 

PSG vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and PSG is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of PSG also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the PSG platform. Paris Saint-Germain Fan Token has a great future ahead in this crypto market. However, PSG can reach new heights.

Bullish PSG price prediction 2021 is $262. As mentioned above, it may reach great heights, however reaching $270 is also possible, if investors have decided that PSG is a good investment in 2021.

FAQ

What is Paris Saint-Germain Fan Token (PSG)?

PSG is a fan token for the football club Paris Saint-Germain. It can be used to purchase merchandise, vote on important club decisions, and other things.

Where can you purchase PSG?

PSG is listed on many cryptocurrency exchanges that include Binance, Upbit, HitBTC, ZT, and Gate.io. 

Will PSG reach a new ATH soon?

With the ongoing developments and upgrades within the PSG platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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