- Bullish POWR price prediction ranges from $0.8 to $1.79.
- POWR price may also reach $2 if it exceeds $1.79 soon.
- Bearish POWR price prediction for 2021 is $0.145.
This Power Ledger Price Prediction 2021 article is based on technical analysis alone. In this article, you can see the key measures that were taken into consideration upon coming up with our POWR price analysis and prediction.
Power Ledger (POWR) is an Australian blockchain-based digital currency and energy trading firm that allows for decentralized selling and buying of renewable energy. However, the platform allows consumers access to a variety of energy markets around the globe and is meant to be scalable to various energy infrastructures and regulations.
For interested crypto traders, the crypto trades at exchanges such as Binance, Huobi Global, Upbit, HitBTC, and Bithumb.
Moreover, with these recent developments, is POWR a good investment in 2021? Let’s find out in this POWR price analysis 2021 article.
Power Ledger (POWR) Price Analysis
Currently, POWR holds 176th place on CoinGecko. But will the recent changes in the blockchain and its governance help catapult the price to reach higher? Let’s proceed to the charts in this POWR price prediction article.
In the monthly time frame chart above, we can see the Ascending Channel pattern. An ascending channel is the price action occurring between an upward direction sloping parallel linesline. Also, the chart displays the Higher highs and higher lows. More so, this pattern indicates a short-term bullish.
Meanwhile, the relative strength index (RSI) of the POWR is already at its overbought state. For this reason, traders must be careful because POWR might trigger a price reversal any time, as shown in this Power Ledger price prediction
According to CoinGecko, the POWR price is $0.55, at the time of writing. In terms of market position, the market capitalization of POWR amounts to almost $245,602,133. Furthermore, POWR has an average daily trading volume of over $38,839,662.
- Resistance Level 1 – $0.81
- Resistance Level 2 – $1.305
- Next Resistance Level – $1.79
- Support Level 1 – $0.35
- Support Level 2 – $0.14
The above chart shows the impressive performance of POWR in the last few days. POWR is showing a bullish trend. However, if the trend continues, POWR will run along with the bulls, overtaking its $1.305 resistance level and climb higher to $1.79
In contrast, if the crypto investors turn against the cryptocurrency, the bears might take over. More so, the POWR price might plummet to almost $0.14, a bearish signal. Even more, it may even reach $2 if investors have decided that POWR a good investment in 2021.
Furthermore, the project seems promising. Moreover, it has high goals, a clear focus, and a use case that target a broad market. Along with increasing adoption, positive price predictions, and a community consists of thousands of retailers, POWR is likely a promising investment for 2021.
Disclaimer: The opinion expressed in this chart solely the authors. It is not interpreted as investment advice.