$PHA has been one of today's standout movers ๐
The interesting part is the volume. PHALA recorded about $229M in trading volume on Sept. 26, compared with about $42M the previous day, while its price had also climbed sharply over the week.
My view: PHA is still in momentum mode, but after such a fast move, volatility can be brutal.
If buyers hold the latest breakout area and volume stays elevated, another leg higher is possible.
If momentum fades, a sharp retracement wouldn't surprise me.
Bullish: strong volume + breakout continuation ๐
Bearish: volume drops + breakout fails โ ๏ธ
Would you chase this move or wait for a pullback?
Follow for more such predictions ๐
#PHA #Phala #crypto
The interesting part is the volume. PHALA recorded about $229M in trading volume on Sept. 26, compared with about $42M the previous day, while its price had also climbed sharply over the week.
My view: PHA is still in momentum mode, but after such a fast move, volatility can be brutal.
If buyers hold the latest breakout area and volume stays elevated, another leg higher is possible.
If momentum fades, a sharp retracement wouldn't surprise me.
Bullish: strong volume + breakout continuation ๐
Bearish: volume drops + breakout fails โ ๏ธ
Would you chase this move or wait for a pullback?
Follow for more such predictions ๐
#PHA #Phala #crypto