/ Perpetual Protocol (PERP) stages a robust comeback, surging by +56.97% to $1.37. Can it breach $2? Explore the major breakout and potential scenarios in this crypto news update.
Author: Nilesh Hembade.
Date: 26 Dec 2023, 16:35 PM IST
Perpetual Protocol (PERP) has staged a powerful comeback in the cryptocurrency market, showcasing a sudden surge that has caught the attention of investors and enthusiasts alike. The PERP token’s price has witnessed an impressive spike of +56.97%, catapulting from $0.86 to $1.37 over the last 24 hours. The market cap for PERP currently stands at $89 million, and an extraordinary surge in trading volume by 1008% has added to the fervor.
Major Breakout in Perpetual Protocol (PERP):
The major factor behind this surge is that the PERP token has finally broken out of its resistance level of $1.30. This is the first time, after one and a half years, that the PERP price has gone to $1.74, which was the high today. Last time, PERP traded at $1.72 on May 24, 2022.
Can Perpetual Protocol (PERP) hit $2?
Currently, the PERP token is trading at $1.32, which is still in the resistance zone. There are two scenarios that might come into action. First, if the price goes above $1.40, we can definitely expect PERP to hit $2 in the coming days, but in the second scenario, if the price dumps, we can see PERP reach the $0.92 level.
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