Echelon Prime (PRIME) Stays Bearish but May Break Out

The Echelon Prime token has registered a mild price increase today. The price of the coin has risen by a modest 1.54%. Let’s take a closer look below.

PRIME Statistics

Current Price: $0.6961

Market Capitalization: $25.1M

Circulating Supply: 35.77M

Total Supply: 111.11M

CoinMarketCap Rank: 649

Key Levels

Resistance: $0.7000, $0.8000, $0.9000

Support: $0.6000, $0.5000, $0.4000

Echelon Prime Edges Minimally Toward a Breakout

The PRIME daily market has settled around a two-month-old support level. Price activity has consolidated in this region and appears to have formed a falling wedge pattern. As a result, this setup indicates a potential breakout.

Likewise, price action is testing the upper boundary of the falling wedge, while the Stochastic Relative Strength Index (SRSI) indicator lines are rising from the oversold region. As such, bullish optimism appears to be building in this market.

PRIME May Still Go Higher

On the 4-hour Echelon Prime chart, price action can be seen rebounding strongly earlier. As expected, the market later experienced a pullback in a brief contraction.

Echelon Prime Coin Shows Regular Pumps

The Echelon Prime token has been observed to exhibit regular price pumps. The market has previously rallied from around the $0.5000 level, reaching above the $0.9000 price region.

PRIME May Still Go Higher (Continued)

However, despite this behavior, the token continues to trade above the 9-day EMA curve on this timeframe. Furthermore, the SRSI lines are converging toward a crossover around the 50 threshold of the indicator. This supports the short-term outlook, as the market may push toward the $0.7500 price level.

Make money without lifting your fingers: Start trading smarter today