PandaSwap Price
read
CoinChapter.com
on


Google News
NAIROBI (CoinChapter.com) – The descending triangle pattern on the Panda Trading (PANDA) 1-day price chart hints at a possible 650% price surge in June. Currently trading at $0.006995, PANDA could surge to $0.052 if it breaks through the triangle’s resistance level. In addition, the official Twitter account of Panda Trading hinted at bullish news that could have a significant impact on the price.
Is a PANDA 650% Rally Coming Soon?
As of June 4, the PANDA token traded on Panda has shown resilience in a market known for its volatility. PANDA is priced at $0.00707 and has gained 2.08% in the past 24 hours, outperforming many of its peers. This rise, while modest, is significant when viewed through the lens of technical analysis.


PANDA 1-day price chart. Source:
TradingView
The 1-day price chart of PANDA shows a notable sell-off from highs near 0.08 at the end of April, followed by the formation of a descending triangle over the past few months. Volume is tapering off within the triangle, a common feature of this pattern. A surge in volume above a breakout resistance or support level will confirm the direction of the next move.
The neutral RSI at 49.83 indicates a balanced sentiment, opening the door for a breakout in either direction. If PANDA manages to break out of the triangle’s resistance, a rally of 0.052, or a growth of 650%, is likely. Conversely, a breakout of the support could signal a continuation of the downtrend.
Market sentiment and fundamental developments
For PANDA's price to grow by 650% from its current price of $0.006995, it would need to reach about $0.052. General market conditions and sentiment play a vital role in this. Positive news or updates related to PANDA can drive its price higher. A significant increase in volume during a breakout would confirm the action, increasing the likelihood of reaching the calculated target.
On June 3, PandaSwapSol, the official X account of Panda Trading, released an attractive message:
The so-called “bullish news” could be the catalyst needed to propel PANDA above the descending triangle, pushing it towards a 650% growth target. Panda Trading promises to provide a detailed preview and description, a strategy commonly used in the crypto world to lead major announcements.
In summary, the descending triangle pattern on the PANDA chart indicates the technical possibility of a significant price increase. Achieving a 650% increase depends on multiple factors, including market sentiment, fundamental developments, and volume confirmation. While technical analysis provides a framework, real-world factors ultimately determine price movements.