Polkaster and Perpetual Protocol price action are divergent. POLS/USDT prices risk crumbling to new 2021 lows while PERP/USDT bulls are vibrant targeting to reclaim $15.
Polkastarter has a partnership with MoonBeam and secured by Polkadot's BABE and GRANDPA hybrid consensus algorithm. The platform's native token is POLS.
The liquidation pressure appears insurmountable. POLS bulls are struggling to contain a deluge of selling pressure.
At the time of writing, POLS is stable versus the USD, in range within this week's trading zone.
Technically, POLS/USDT may trend lower as bears reverse gains of the first half of the year.
Overly, price action, as aforementioned, favors sellers.
Therefore, even though there are flashes of light, reading from the daily chart, POLS bulls won't attract demand if the middle BB remains as the primary liquidation line.
The situation could be worse if $0.85 fails and POLS slips, possibly to new 2021 lows.
POLS might be stable at around 2021 lows at the time of writing, but the short-term trend is dependent on the reaction at $0.85.
A close above $1.5, beyond the middle BB, and beyond June 22 highs would draw buyers targeting $2.5 in the medium term.
However, losses below last week's low would only dampen bulls' effort, aligning POLS in the path of May and June bears.
The derivatives trading platform reliant on Ethereum has a new AMM variant riding liquidity providers and supporting leverage trading. PERP is useful for governance.
The PERP price is bottoming out, reading from development in the daily chart.
Despite the contraction of prices on July 1, PERP's trajectory is defined—at least going forward, pumping buyers.
Presently, PERP is down five percent versus the USD but adding double digits week-to-date.
Building a solid case for PERP demand is the rising trading volumes and close above April 2021 lows.
Besides the uptick in participation and favorable candlestick arrangement, PERP/USDT bulls are banking on the general revival of the crypto market and DeFi's prospects.
There are higher highs visible in the daily chart suggesting demand.
As of writing, PERP may be down, but within July 1 bull bar.
The bar is conspicuous, tagging high trading volumes.
Accordingly, PERP buyers may find loading opportunities in lower time frames within the July 1 bull bar with modest targets at May 2021 highs of $15.