- PAAL crypto experienced a significant 50% rally in the past 24 hours, sparking speculation about further gains.
- Technical indicators are not fully supporting the momentum, signaling caution to traders.
PAAL’s 50% surge over the past 24 hours marks a strong short-term recovery, but it remains uncertain whether this upward trend will persist enough to offset the token’s 43.45% weekly loss.
As the asset began its rally, AMBCrypto analyzes to see if this rebound has staying power.
PAAL on track for a 195% gain
PAAL’s recent 50% price surge followed a drop to a key support level at 0.11000—a zone that has historically triggered upward momentum.
Prior to this decline, PAAL had been trading within a consolidation phase, often a signal of buyer accumulation in anticipation of a rally. If this holds true, the recent dip could represent a “stop hunt,” allowing buyers to secure a more favorable entry before a potential breakout.
The next targets for PAAL are 0.38370, followed by a continued move toward 0.54591, which would result in a 195.37% gain.
Source: Trading View
In summary, while PAAL shows strong potential for further gains based on its price action, technical indicators are currently less supportive of a sustained rally.
Indicators show sluggish recovery for PAAL
Technical indicators suggest PAAL remains bearish, potentially setting the asset up for further declines below its current level.
The Relative Strength Index (RSI) has sharply declined, now reading 43.33, which indicates selling pressure and raises the likelihood of a continued downtrend.
The RSI measures the speed and change of price momentum, providing insights into market sentiment based on recent price movements.
Additionally, the Aroon indicator, composed of the Aroon Up and Aroon Down lines, shows bearish signals. The Aroon Up currently reads 78.57%, while the Aroon Down is at 92.86%. With the Aroon Down line higher, this suggests a prevailing downtrend in the market.
Source: Trading View
The cautious sentiment reflected in PAAL’s indicators aligns with a broader downturn in the crypto market.
Currently according to CoinMarketCap, overall crypto market volume has decreased by 3.56%, indicating a slowdown in buying activity. PAAL’s trading volume has also dropped, down by 8.32%.
If this decline in volume and buying interest persists, PAAL’s anticipated rally could be delayed.
