Is Monthly Low In Danger?

The Pikamoon crypto is sliding on the lower side in Intraday after taking a pause on Thursday. The bears established themselves near the highs and intended to lower the price below the monthly low value.

Earlier, the PIKA crypto gained traction in the last week of March and jumped higher. However, the bulls could not hold for more, and the crypto reversed after a double-top pattern was observed on the charts. 

The bears have dominated this week as the crypto has dropped near the neckline, which is also the recent support zone. On the higher side, the $0.003 level has turned out to be a resistance zone. 

On the lower side, the $0.0018 level is acting as a support and preventing it from declining further. The short-term trend might remain indecisive until the crypto is maintained in the range. 

The breakdown on the lower side may validate the neckline breakdown after a double top pattern observed on the daily chart. However, if the buyers are able to defend the support zone, it may again show positive gains. 

Pikamoon Crypto Volume Analysis

The volume analysis shows that Pikamoon crypto received nearly 302.5 K USD in volume in the past 24 hours, which is 23.72% lower than the volume received on the previous day. The live market capitalization is 15.47 Million USD and ranks 3245th among all the cryptocurrencies. 

It has 7.50 Billion PIKA tokens in circulation, which is 15% of the total supply. The total supply is reported to be 50 Billion PIKA tokens. 

Pikamoon Crypto Fundamental Outlook

Pikamoon is a decentralized gaming platform. It has emerged as a play to earn opportunity in the gaming universe and metaverse. In November 2022, it arose from the shared excitement and ambitious dream of three friends who were gamers. 

The core of Pikamoon Token goes beyond the typical gaming encounter. It is a rebellious gesture against the conventions of traditional gaming. It offers a platform that claims to effectively empower its players. 

Pikamoon Crypto Forecast 2024

?   

On the most bullish observation, The Pikamoon crypto could rise to a high of $0.315 by the end of April 2024. On the flip side, the most pessimistic prediction of our analysts is for the price to break below the recent support of the $0.0018 level, after which the price may fall to the $0.0006 level. 

Conclusion

The Pikamoon crypto is proceeding on the lower side after taking a pause yesterday. The monthly low seems to be in danger as the bulls can revert the price on the higher side from the support. 

The daily chart witnessed a double top pattern formation, after which the crypto dropped sharply towards the recent low. If the bears can register a breakdown, the crypto may extend its move toward the lower side and reach $0.0006 by the month-end. 

Technical levels

• Support levels: $0.0018 and $0.0006. 
• Resistance levels: $0.0031 and $0.0039. 

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.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.