Echelon Prime (PRIME) Token Shows Breakout Potential Following a 7.4% Surge in Market Cap

The Echelon Prime token price was highly volatile, resulting in 7.99%, which increased the possibility of uncertain spikes.

The Echelon Prime (PRIME) token price showed promising signs of recovery from the recent bearish trend. However, despite the token’s impressive performance, technical indicators remained mixed, indicating uncertainty in sustained price movement. Investors should cautiously consider if a significant price discount is still ahead.

Key Points:

PRIME token price encountered resistance at $8.70 level.

Technical indicators showed mixed signals, indicating uncertainty in sustained price movement.

Token price might take support at $2.70 and $6.80 levels, followed by resistances at $13.70 and $20.50.

After a substantial price decline of 94% from its all-time high, the Echelon Prime token encountered resistance at the $8.70 level following the recent price action.

The token price showed a double bottom pattern on the daily chart, indicating that the token price was building up a base at the lower level. If the token price further breaks above the most recent swing high, it might lead to a strong uptrend.

However, technical indicators on the token’s technical chart indicated uncertainty in the price. The 50-day and the 200-day EMAs on the daily chart of the PRIME token continued to trade in a death cross. The token’s price also traded below the following EMAs, exhibiting a lack of strength.

The MACD and the signal line further traded in a bullish cross but sustained in the negative trajectory. This showed a neutral sentiment of the token price.

The RSI had advanced above the 50-level and broke above the 14-day SMA on the daily chart. This indicated bullish momentum in the token price for the short term.

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