Ethereum

Token

when

PAAL AI

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-examine-factors-behind-paal-token-price-drop/" data-wpel-link="internal">Analysts Examine Factors Behind PAAL Token Price Drop</a> 
The price of the Telegram token PAAL <a href="https://futurearticles.co/openai-gpt-4o-vs-anthropic-claude-3-5-who-will-win-the-duel/" target="_blank" rel="noopener" data-wpel-link="exclude">AI</a> (PAAL) developed in the <a href="https://en.coin-turk.com/imf-chief-believes-in-feds-soft-landing-path-crypto-market-optimism-persists/" data-wpel-link="internal">Ethereum</a> ecosystem dropped by 10% in the last 24 hours. At the time of writing, the token was trading at $0.19. This represents a 77.50% drop from its all-time high in March. This on-chain analysis examines the factors responsible for the recent drop and potential next moves. 
<h2 class="p1" style="text-align: justify" id="what-is-happening-with-paal">What Is Happening with PAAL?</h2> 
Analysts’ findings reveal that PAAL experienced significant selling pressure due to a decision by one of its major stakeholders. The <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> involved in this drop were whales, whose actions and inactions can significantly impact prices. 
IntoTheBlock data shows that the net flow of PAAL AI’s major holders has dropped by 72% in the last seven days and has remained this way for the last 30 to 90 days. When this gap increases, it means whales are accumulating more tokens than they are distributing. In most cases, this increase in purchased tokens can signal a potential price rise. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380330 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/paal-1.webp" alt="" width="1200" height="800"> 
If crypto whales continue to liquidate their PAAL holdings, the price may continue to drop. Beyond this selling pressure, on-chain data from Santiment shows a significant decline in the project’s network growth. Network growth measures the number of new addresses interacting with a cryptocurrency for the first time. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380329 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/veri-1.webp" alt="" width="2048" height="693"> 
<h2 class="p1" style="text-align: justify" id="paal-chart-analysis">PAAL Chart Analysis</h2> 
According to the daily chart, PAAL has formed a rounding top pattern. Also known as an inverted rounding bottom, this pattern is initially characterized by an uptrend, followed by a loss of upward momentum and a price drop. A bearish confirmation typically occurs when the price falls below the neckline shown on the chart. In the chart below, PAAL’s neckline is at $0.1965. However, the price has fallen below this region, indicating a potential next downtrend. 
This bias is further reinforced by the Bull Bear Power (BBP) indicator, which measures the strength of buyers relative to sellers. Generally, if BBP is positive, bulls are in control, and prices may rise. However, the indicator’s reading for PAAL is negative, suggesting that bears may continue to push the price down. In this case, PAAL’s price could drop to $0.1724, but if bulls fail to defend this region, it could slide to $0.1499. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380328 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/paal-grafik-1.webp" alt="" width="2048" height="1157"> 
Conversely, if the cryptocurrency’s price sees an increase in whale accumulation and buying volume in the spot market, it could reverse upwards. In this case, the PAAL price could retest $0.2037. If it continues, the price could extend up to $0.2462. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-examine-factors-behind-paal-token-price-drop/" data-wpel-link="internal">Analysts Examine Factors Behind PAAL Token Price Drop</a></h5>
The post <a href="https://en.coin-turk.com/analysts-examine-factors-behind-paal-token-price-drop/" data-wpel-link="internal">Analysts Examine Factors Behind PAAL Token Price Drop</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Analysts Examine Factors Behind PAAL Token Price Drop

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