Last week the POWR token showed a significant surge in its price, indicating a total gain of 120%. With this rally, the token price breached the neckline of the Cup and Handle pattern, revealing a great opportunity for crypto traders.
Key technical points:
The POWR token price has a weekly candle closing above the $0.66 resistance level
The daily RSI chart displays a bearish divergence concerning POWR price
The intraday trading volume in the POWR token is $238.7 Million, indicating a 76% loss
Source- POWR/USD chart by Tradingview
The POWR token technical chart indicated an excellent long opportunity for the crypto traders with a Cup and handle pattern in the daily time frame chart. The last week’s rally significantly helped the pattern complete its handle potion and provide a decisive breakout from the $0.66 neckline.
According to the weekly chart-EMAs(20, 50, 100, and 200), the token is under a strong uptrend as its price is trading high above these EMA lines.
The Relative S
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