pNetwork (PNT) is among the altcoins listed on Binance earlier this summer. In this short period, PNTUSDT saw its highest value of 1.4 dollars. Then, the altcoin, which fell, fell to its opening value.
This week, we review the bullish potential of PNTUSDT, which we saw an upward move from the bottom.
PNTUSDT Daily Chart
When we calculated the Fibonacci values for the PNTUSDT pair based on the high and low prices, the downtrend faced a Fib 0.382 (0.8419) support. Then the PNT bullish starting from this support price saw resistance at Fib 0.618 (1.0530) and returned to its opening price.
Looking at the latest situation for PNTUSDT, a daily close above fib 0.236 (0.7112) could trigger a new uptrend. In this case, $ 0.8419 can be followed as the first target. If the uptrend continues, the PNTUSDT pair can test the resistance of $ 1.05 again.
Supporting this uptrend in the Stochastic RSI on the daily outlook, the Stoch RSI is currently trending out of the oversold zone. The rise could be triggered by the Stoch RSI breaking the value 20.
What is pNetwork (PNT)?
pNetwork includes some features to protect the underlying assets. The pNetwork ecosystem, which enables asset issuance with cross-chain composability, performs the issuance of ptokens supported by Trusted Execution Environments (TEEs) and a MPC-backed network.
pTokens is linked to underlying assets and has a system of redeeming with ptokens burning at any time via the token burning method.
pNetwork Token or PNT is used as a local service and management token in the network. PNT is used for activities such as staking, DAO voting, Eidoo Card, asset exchange, and DEX.
PNTUSDT Right Now…
pNetwork (PNT)Price$ 1.04