Pundi X[new] (PUNDIX) Technical Analysis 2021 for Crypto Traders

Pundi X[new] (PUNDIX) Technical Analysis 2021 for Crypto Traders

In Pundi X[new] (PUNDIX) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about PUNDIX to analyze the future trend of the cryptocurrency

Pundi X is a leading blockchain device developer, aiming to transform the retail business through its blockchain based point of sale solution. The solution enables merchants and retail customers to conduct instant in-store transactions through their blockchain. 

The blockchain solution was established in 2017 and launched in January 2018. ICO is the world’s first point-of-sale solution. After Pundi X successfully launched its ICO, it successfully launched retail services such as XPOS, XWallet and XPASS, as well as the world’s first blockchain mobile phone BOB.

Pundi X[new] (PUNDIX) Current Market Status

According to CoinGecko, the PUNDIX price is trading at $1.62 with a 24-hour trading volume of $33,855,672, at the time of writing. However, PUNDIX has dropped by 0.9% in the last 24 hours.

In addition, PUNDIX has a circulating supply of 258,484,530 PUNDIX coins. Currently, PUNDIX trades in Binance, FTX, Upbit, Gate.io, and HitBTC.

Pundi X[new] (PUNDIX) Technical Analysis 2021 

Pundi X[new] (PUNDIX) holds the 138th position on CoinGecko right now. The recent development and upgrades might push PUNDIX to reach new heights. Now, let’s deep dive into the PUNDIX technical analysis 2021. The daily time frame chart of Pundi X[new] (PUNDIX) is shown below.

PUNDIX/USDT Higher High and Higher Low Pattern (Source: Tradingview)

When the peaks and troughs on a chart ascend, an uptrend is occurring. Prices in that uptrend can be seen as higher highs and higher lows. Prices from the previous period that were seen as highs are now even higher than they were before the uptrend began.

Not only do the highs finish higher, but the lows from a previous period of time gain value and end up being higher than before. This indicates to a trader that prices are rising and the overall value is rising, indicating that it is time to sell and make a profit before a downtrend occurs.

Currently, PUNDIX is trading at $1.59. After this, PUNDIX may continue to fall or rise according to the direction of breakout. With this pattern, PUNDIX might reach the resistance level at $5.61 soon. If the trend reverses, then the price of PUNDIX may fall to $0.57.

Pundi X[new] (PUNDIX) RSI

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

PUNDIX RSI (Source: TradingView)

As shown in the above chart, RSI remains at 65.9. This shows that PUNDIX’s price is in an nearly overbought state. This shows that traders have to trade carefully, however, major price reversal could take place.

Pundi X[new] (PUNDIX) RVOL

The below chart shows the Relative Volume of PUNDIX. 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.

PUNDIX RVOL(Source: TradingView)

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

Pundi X[new] (PUNDIX) Moving Average

PUNDIX’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.

PUNDIX MA (Source: TradingView)

Currently, PUNDIX is in a bullish state. However, PUNDIX price is above 50 MA (short-term), and it has a high chance of moving higher. Furthermore, the PUNDIX 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.

Pundi X[new] (PUNDIX) Price Comparison With Bitcoin

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

PUNDIX vs BTC Price Comparison chart(Source: TradingView)

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

Conclusion

With the ongoing developments and upgrades that are taking place within the PUNDIX platform. Pundi X[new] has a great future ahead in this crypto market. However, PUNDIX can reach new heights.

Bullish PUNDIX price prediction 2021 is $3.16. As mentioned above, it may reach great heights, however reaching $5.61 is also possible, if investors have decided that PUNDIX is a good investment in 2021.

FAQ

What is PUNDIX?

Pundi X is an Ethereum token designed to make it easier for people to use cryptocurrency to buy goods and services. The development team plans to distribute point-of-sale devices to retailers that accept payment in Pundi X tokens.

Where can you purchase PUNDIX?

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

Will PUNDIX reach a new ATH soon?

With the ongoing developments and upgrades within the PUNDIX 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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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.