PAF Technical Analysis: Price Could See An Upthrust by 90.99%

Technical key points

Past performance of PAF

PAF Technical analysis reveals a bull flag breakout pattern that has the potential to push prices up by another 90.99%. Pacific price is currently trading at $0.004324, where it has found positive support. Initially, the price was $0.00206. Thereafter, it started an uptrend and breached the $0.01

[caption id="attachment_238188" align="alignnone" width="851"] PAF[/caption]

Source: Trading view

Pacific Technical Analysis

The bulls being in control suggest that the prices may reach $0.008 in the near term. The next support is likely to come in at $0.004 levels. In the last 24 hrs, PAF has traded as low as$0.002195 and as high as $0.005484. The price is currently above the moving averages, which may act as a support in the near term. The RSI indicator is at 56 which suggests the price is neither overbought nor oversold suggesting a consolidation in the near term.

The Bollinger bands are showing signs of a squeeze which suggests low volatility in the near term and a breakout is likely to occur soon.11 out of the 26 technical indicators suggest a buy signal for Pacific.8 suggest hold while 5 show a buy signal, 3 oscillator shows a buy signal  7 holds and 1 sell. The MACD indicator is above the signal line which suggests a bullish momentum in the prices. while the MACD bars are green clear evidence of a bullish trend. Pacific has a trading volume of $635,508.04 and a market capitalization of $4,905,631.75 this has resulted in being ranked #3220 by Coinmarketcap in the last 24 hrs

Upcoming trend

From the above technical analysis, it can be concluded that Pacific is a good buy at the current levels with a target of $0.008 in the near term. Investors are advised to maintain a stop loss of $0.004 for any long positions, on the other hand, short-sellers can keep a stop loss of $0.006 levels.