Perpetual Protocol (PERP) and Keep Network (KEEP) Technical Analysis: Bulls Exhausted
Table of contents
Perpetual Protocol (PERP)
The platform enables trustless trading of tokens without liquidity providers using PERP for governance.
Past Performance of Perpetual Protocol
The Perpetual Protocol token is recoiling from all-time highs. While this is the broader state of the market, the coin is firm.
The PERP technical analysis in the daily chart shows that the token is trading within a bullish breakout pattern, sliding three percent on the last trading day.
Day-Ahead and what to Expect
As long as the PERP token maintains a bullish trend, soaking selling pressure, and trading around August 2021 highs, Perpetual Protocol coin bulls would have the upper hand.
From the Perpetual Protocol technical analysis in the daily chart, the uptrend is valid above $15—previous resistance-now-support flashing with May 2021 highs.
Perpetual Protocol Technical Analysis
The uptrend is valid despite the price contraction of early this week.
PERP crypto bulls may search for entries in lower time frames provided prices trend above $15.
Besides, since prices are within the August 19 bull bar, every low could offer buying opportunities from an Effort-versus-Results perspective.
Immediate targets are $20 and $30, the 1 and 2.618 Fibonacci extension levels of the H1 2021 trade range, respectively.
Keep Network (KEEP)
The solution allows for private data to be stored in public chains using KEEP as the primary currency.
Past Performance of KEEP
The Keep Network crypto is trading in a bullish breakout pattern above July 2021 highs at the time of writing.
Even though prices are recoiling in a retest, there might be entries for KEEP bulls in lower time frames, more so if $0.40 holds.
At press time, the Keep Network coin is down seven percent against the greenback on the last trading day.
Day-Ahead and what to Expect
KEEP technical analysis indicates that buyers stand a chance provided $0.40 is the immediate support.
Rejection of lower lows validates the bullish breakout above July 2021 in a buy trend continuation pattern.
Ideally, a surge past $0.50 and this week's highs would spark another wave of demand, lifting KEEP towards$0.80.
Keep Network Technical Analysis
The KEEP token is in a precarious position reading from price action in the daily chart.
Aforementioned, a close above $0.50 could see KEEP buyers flock back, driving the coin's price back to $0.80, confirming bulls of early August.
On the flip side, deeper losses below $0.40 and the middle BB would quickly deflate the upside momentum. In that case, KEEP might tank back to $0.25—or worse.