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Powerledger (POWR) crypto is on the verge of collapsing even further as it falls through a critical support level of $0.1698.
Entering the oversold territory on the daily relative strength index Powerledger could see fit for accumulation at these lower price levels where the bulls could be hoping for a bounce.
Will Powerledger (POWR) recover?
The Bitcoin crash earlier today sent Bitcoin spiraling out of control down to the $18,100 price levels. As a result deleterious effects have also been seen in the altcoin market.
Powerledger (POWR) crypto hasn't had the most bullish of days. From a technical analysis perspective POWR has just broken a key level of support which means there may be further negative price momentum.
This is now the fourth time this particular support level has been tested and the bearish price action from Bitcoin today has led to Powerledger (POWR) crypto becoming over-sold and plummeting down below the $0.17 price levels.
Should October flip bullish over the next week or two we could still potentially see a recovery for Powerledger (POWR) crypto.
Ideally before the end of 2022, a swing-high back up to the $0.25 resistance trendline of the descending triangle is still a pragmatic technical target.
This would be extremely bullish and potentially set Powerledger (POWR) up nice for a second pump back above the $0.30 levels.
Sustainability is a rapidly growing niche within the blockchain sector. Powerledger strives to provide software for distributed and decentralized energy markets which help create a sustainable future.
Whilst predicting the short term could feel like
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