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<p>The price of Prosper <a href="https://coinmarketcap.com/currencies/prosper/" target="_blank" rel="noopener noreferrer nofollow">($PROS) </a>has seen significant gains today, with the token trading around $0.52 at the time of writing – representing an increase of over 50% in the last 24 hours. Despite this price jump, Prosper still has a relatively modest market capitalization of approximately $16 million.</p>
<p>This is a far cry from its all-time high market cap of $88 million in February 2021 when token prices reached $8.80.</p>
<h2 class="wp-block-heading" id="so-what-is-behind-this-latest-prosper-price-pump">So what is behind this latest Prosper price pump?</h2>
<p>Intriguingly, Prosper’s official social media channels and communication outlets show no major platform updates, partnership announcements, or other news events that may explain this recent price surge.</p>
<p>In the absence of significant fundamental drivers, it seems likely that the pump has been driven more by aggressive speculative trading and whales stockpiling tokens over emerging belief in the project’s long-term potential.</p>
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<p>Prosper brands itself as a cross-chain prediction market and hedging platform, with a focus on aggregating on-chain liquidity. Some of its standout features include prediction insurance, a binary liquidity model, cross-chain operability, fiat support, customizable pools, DAO governance, and more. The platform also utilizes Chainlink oracles to ensure accuracy of real-world data feeds.</p>
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<p>Analyzing the daily PROS/USD chart, we can glean some insights into the recent trading behavior:</p>
<ul>
 <li>The daily Relative Strength Index (RSI) has surged to 65. An RSI above 70 typically signifies overbought conditions, indicating the asset may be overvalued in the short-term after a strong rally. Some pullback or consolidation can be expected.</li>
 <li>If the pump continues, the next major resistance level is found at $0.6772 – in line with the 4.236 Fibonacci extension level. This would mark a 30% further upside from current prices.</li>
 <li>Support now looks to have formed at $0.3244, which aligns with the 4.236 Fib retracement level. This would still represent a 40%+ gain if prices retreated to test support.</li>
</ul>
<p>In summary, while Prosper’s development activity and platform offerings seem fundamentally sound, the recent 50%+ price surge in a matter of days suggests the market may have gotten a bit over-eager.</p>
<p>Some cooling off period can be anticipated, although the key support around $0.32 shows the overall bullish momentum remains intact. Further upside appears likely over the coming weeks if whales continue accumulating.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-prosper-pros-price-pumping/" rel="noopener noreferrer nofollow">Why Is Prosper ($PROS) Price Pumping?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Prosper ($PROS) Price Pumping?

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