PARSIQ Price Prediction 2021 – Will PRQ Hit $1.64 Soon?

PARSIQ Price Prediction 2021 - Will PRQ Hit $1.64 Soon?
  • Bullish PRQ price prediction ranges from $0.85 to $1.09.
  • The PRQ price might also reach $1.64.
  • PRQ bearish market price prediction for 2021 is $0.34.

In PARSIQ (PRQ) price prediction 2021, we use statistics, price patterns, ADX, and much other information about PRQ to analyze the future movement of the cryptocurrency

PARSIQ is positioning itself as a next generation monitoring and analysis platform providing analytical tools for blockchain technology across a variety of industries. This allows users to track network activity in real time, discover new use cases for their apps, and generate instant notifications. Smart triggers can be used to react to events of interest across multiple networks. The PRQ token contract was rolled out to Ethereum in 2019.

Current Market Status of PARSIQ (PRQ)

According to Coingecko, the price of PRQ is $0.74 with a 24-hour trading volume of $831,054 at the time of writing. However, PRQ has increased by 5.4% in the last 24 hours.

Moreover, PRQ has a circulating supply of 117,823,492 PRQ coins. Currently, PRQ trades in cryptocurrency exchanges such as OKEx, ZT, KuCoin, Gate.io, and WBF Exchange.

PARSIQ (PRQ) Price Prediction 2021

PARSIQ (PRQ) holds the 462nd position on CoinGecko right now. PRQ price prediction 2021 explained below with a daily time frame. 

PRQ/USDT Ascending Channel Trend Pattern (Source: Tradingview)

The price action contained between two parallel upward sloping lines defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.

A breakout above an ascending channel may indicate that the upward trend will continue, whereas a breakdown below an ascending channel may indicate that the trend will change.

Currently, PRQ is trading at $0.76. After this, PRQ may continue to fall or rise according to the direction of breakout. With this pattern, PRQ might reach the resistance level at $1.02 soon, if the trend breaks out at the first resistance level $1.64. If the trend reverses, then the price of PRQ may fall to $0.27.

PARSIQ (PRQ) Support and Resistance Level

The below chart shows the support and resistance level of PRQ. 

PRQ/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it observed that the following are the resistance and support level of PRQ.

  • Resistance Level 1 – $0.85
  • Resistance Level 2 – $1.09
  • Support Level 1 – $0.64
  • Support Level 2 – $0.45
  • Support Level 3 – $0.34

The chart depicts the bearish performance of PRQ over the previous month. However, this trend will continue to reach resistance level at $1.09 soon. On the contrary, if the trend reversed then PRQ might fall to $0.34 presenting a bearish signal.

PARSIQ (PRQ) Average Directional Index (ADX)

Let us now look at PRQ’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.

PRQ/USDT ADX (Source:TradingView)

The above chart represents the ADX of PRQ with the range at 46.12, so it indicates a strong trend.

Conclusion

The PRQ is one of the cryptos which is great for long-term investment. In addition, PRQ price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $2.62 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the PRQ ecosystem, the performance of PRQ would rise reaching $1.09 very soon. But, it might also reach $1.64 if the investors believe that PRQ is a good investment in 2021.

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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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.