2023-11-16 20:00 |
Privacy-focused cryptocurrency PIVX saw its price spike over 20% in the last 24 hours after being listed on leading exchange Binance. The news propelled PIVX to break out of its trading range and hit highs not seen since May.
PIVX touched a peak of $0.629271 earlier today, rapidly climbing from around $0.445379 yesterday. At last check, the PIVX price stood at $0.591462, still up 21.55% for the day amid significantly higher than usual trading volumes.
Source: CoinStats – Start using it today
The privacy-oriented project that utilizes proof-of-stake consensus languished below $0.50 throughout much of 2022. However, the lucrative Binance listing finally appears to be catalyzing pent-up bullish momentum for the long-term cryptocurrency.
In addition to the 21% daily gain, PIVX has now surged over 160% over the past week. Momentum has accelerated further just within the last 24 hours after attaining the Binance seal of approval.
Looking ahead, PIVX will need to break above technical resistance around $0.65 to confirm a bullish breakout and extension of the rally. Its 200-day moving average also looms as an area of potential friction around $0.68.
Still, analysts remain optimistic about PIVX’s uptrend continuation, given improving sentiment and fundamentals. As a well-established privacy coin with innovative staking mechanisms, PIVX offers use cases that could drive more adoption.
Read also:
How This Smart Ethereum Whale Earned Over $14 Million in ETH Without Always Buying Low and Selling High Cardano’s ADA Chart “Couldn’t Look Any Better” As Indicators Flash Bullish – Analyst Updates XRP Outlook Have Shiba Inu and Dogecoin Met Their Match in This Memecoin?For now, the PIVX community is reveling in the renewed interest sparked by Binance. With solid volumes and its technical picture brightening, PIVX appears ready to revisit its 2022 highs above $1 in the not-too-distant future. However, it has been common for Binance-listed coins to surge post-listing. However, investors should be cautious while investing in such coins.
We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
The post Why is PIVX Coin Pumping? Here Are Reasons Behind the 160% Pump appeared first on CaptainAltcoin.
Similar to Notcoin - TapSwap on Solana Airdrops In 2024
PIVX (PIVX) на Currencies.ru
|