PulseChain barely rallied post its release in May 2023 and its price is heading south in the last two months. PLS is down nearly 70% from its all-time high of $0.00029951 and it is attracting bearish sentiments in the indices. The cryptocurrency is showing little to no signs of improvement and scaling up in price this month could be a challenge. In this article, we will highlight how high or low PulseChain could move in the charts in July 2023.
Also Read: VeChain: How Bullish Could VET Be In July?
PulseChain: July A Bullish Month For PLS?
PulseChain added an extra zero last month and it is currently trading with four zeroes in the charts. Leading on-chain metrics and price prediction firm CoinCodex painted a bearish picture for PLS in July. According to the price estimates, PulseChain could plummet by double digits in the next four weeks and deliver further losses to investors.
CoinCodex predicted that PulseChain could crash to a new low of $0.00005489 during mid-July 2023. That’s a downturn of approximately 40% from its current price. The price forecast suggested that PLS might briefly rise and could trade at $0.00006739 during the end of the month. That’s an uptick of nearly 14% from its estimated lows of July. The overall technical indicators for PLS also remain to be bearish for July 2023.
Therefore, it is advised to remain cautious before taking an entry position into PLS this month. The newly launched cryptocurrency has more chances of heading south than north in the next four weeks. In addition, the markets are not in favor of a price rally making leading cryptocurrencies to trade sideways.
At press time, PulseChain was trading at $0.00009312 and it is up nearly 0.2% in the 24-hours day trade. However, PLS is close to 70% from its all-time high of $0.00029951, which it reached on May 23, 2023.