Premia is an up-and-coming, fresh-on-the-market cryptocurrency. The new digital asset’s fully diluted market cap stands at a strong 44,083,030. For a new coin, such strong support by investors seems like a hopeful sign.
Talking about its technological niche, Premia is a collection of DeFi Smart Contracts based on the Ethereum Blockchain that delivers financial instruments as a service to users. Its phase 1 targets functionality provision to underwrite financial contracts. There are traditionally known as physically settled, American style, covered call and put options.
It is a financial innovation that is useful for conducting transactions today. Now that we’re familiar with its basic facts, let’s move on to the charts below for Premia 2021 Price Analysis.
Premia (PREMIA) Technical Analysis 2021
As of June 7th, 2021, Premia is priced at $0.46 with a 24-hour growth percentage of 3.98%.
As shown in the graph, Premia suffered alongside most cryptocurrencies in the latest crypto downturn. Its value fell from a high $.5 to $0.39 in just four days. Since then, the coin has struggled to recover, stabilizing between the Fibonacci level of 0.618 and 0.382. Taking this into account, its percentage fall in the last month has been over -20%.
However, hitting the support level of $0.40 breathed new life into the currency whose value since then has risen to 0.47, a growth of 17%. Still, the graph shows a stabilizing trend, with an unsure position of where the currency could move.
Lastly, we can see in the image above that the Relative Strength Index, or RSI, is at a healthy state. It is neither oversold nor overbought. In this case, traders and investors can still continue trading without worrying about any major price reversal. The RSI measures the magnitude of recent price changes to evaluate whether an asset (PREMIA in this case) is overbought or oversold.
The crypto market may be in a recovering phase, however, things are uncertain for Premia as at this moment, the price is stabilizing between $0.4 and $0.5. Its RSI indicates that Premia may be undergoing slow growth in the next few weeks, which has potential to result in a 50% growth to $1.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.