A Bearish Scenario for PLX Crypto

Plexus price is losing continuously since mid-December 2023. The price has dropped from a high of $0.022 in December to a low of $0.013 today. The recent price drop has wiped out more than 40% of their investor’s capital in the past one month. 

The price performance shows that the PLX crypto has fallen more than 12% this week. Moreover, it lost nearly 41% in the past month. Furthermore, on a year-to-date basis, the price has slumped nearly 18.29%.

At the time of writing, Plexus price was at $0.0133 with an intraday drop of 2.82%. It ranks 3408th as per market capitalization. It has a 24-hour trading volume of 82.10 K with a 17.41% drop as compared to yesterday.

Plexus Price Technical Analysis

The Plexus price has been in a downtrend since the last week of November 2023.

Since the price has been on a free fall with some short-term pullbacks, it remained under the control of bears. The 20-Day EMA acted as a dynamic resistance. The price retarced the 20-Day EMA multiple times and continued to fall. 

Currently, the PLX crypto is under the bear’s grip. As per the current scenario, the price may continue to drop and test lower levels. The buyers are unable to counter due to which the price may drop more.

Moreover, for the price to revert and turn bullish. More buying volume is required at the lower levels to hold the price at the current level and push the price higher.

The technical indicators imply a bearish outlook as the price is hovering below key EMAs. At the time of writing, the RSI was at 26.34 points in the oversold zone. The SMA line was at 27.62 points suggesting bearishness.  

Plexus Price Prediction January 2024

The most optimistic view of analysts assumes the price may attain a high of $0.015 by the end of January 2024. However, the pessimistic view of analysts hopes the price could drop near $0.010 if the recent support breaks down.

Plexus Price Prediction 2024

The price forecast for the year 2024 is that the PLX token price could reach a high of $0.022 suggesting a potential gain of over 70%. Moreover, the bearish outlook of the analysts hopes the price could reach $0.017 by the year-end.

Plexus Price Prediction 2025

By the year 2025, the Plexus price may attain $0.028 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $0.021.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.