- Plume’s latest partnership has buoyed bullish sentiment behind the token, much to the delight of its investors and the envy of its competitors.
- Structure on the 1-day chart and the technical indicators supported further gains for PLUME, making it a veritable star in the crypto firmament.
The EVM-compatible blockchain Plume [PLUME] is the talk of the town after it announced a partnership with World Liberty Financial (WLFI), an entity with ties to the former U.S President Donald Trump. This strategic alliance, as grand as a ball at Blandings Castle, aims to accelerate the expansion of WLFI’s stablecoin, USD1. As part of this collaboration, the USD1 stablecoin will be integrated as a reserve asset of Plume’s on-chain stablecoin – pUSD. 🎉
This integration can set up new avenues for market participants wanting to access institutional-grade real-world assets (RWA) finance opportunities, much like a well-placed invitation to a garden party can lead to all sorts of delightful social engagements.
The announcement came late in the day on 01 July, and by Wednesday, 02 July, PLUME had soared higher by 17% for the day. With a market cap of only $209 million, it would not take a lot of capital to drive the price higher. Hence, traders should be wary of calling the top too early or trying to go short too soon, much like one should never predict the end of a Wodehousian plot too hastily. 📈
PLUME flips the $0.1 level to support, but was rebuffed at June’s supply zone
Plume managed to break its 1-day market structure, a feat as impressive as a butler managing to sneak a tray of sandwiches past a particularly vigilant aunt. This market structure break occurred on 01 July, highlighted in white. While the 1-day internal structure was bullish, it must be noted that the token has been trending south since May, much like a Jeeves who has lost his way in a maze of misunderstandings. In fact, its swing structure has remained bearish.
To understand the next resistance zones, a set of Fibonacci retracement levels was plotted based on PLUME’s swing move over the past two months. The $0.158 and $0.181 levels were the 61.8% and 78.6% retracement levels to watch out for, much like the precise moment to serve the sherry at a cocktail party. In the meantime, the bearish order block at $0.123 from 10 June was tested as resistance on 02 July, and Plume bulls faced rejection here, much like a guest who has arrived at the wrong house.
They need not be worried for too long though. The OBV beat its local high from June, a sign of greater demand in recent days, much like a sudden increase in the number of guests at a party. The trading volume bars attested to this fact, and the RSI also climbed above neutral 50 to indicate a bullish shift in momentum, much like a sudden change in the weather that brightens everyone’s spirits.
At press time, the indicators and the price action of Plume were in agreement and revealed that further gains may be likely in the coming weeks. Investors can bet on a sustained recovery, while traders can look to buy PLUME so long as it trades above the psychological $0.1 support, much like a well-timed toast can set the tone for an entire evening. 🚀
Read More
- Who Is Harley Wallace? The Heartbreaking Truth Behind Bring Her Back’s Dedication
- 50 Ankle Break & Score Sound ID Codes for Basketball Zero
- 50 Goal Sound ID Codes for Blue Lock Rivals
- Here’s Why Your Nintendo Switch 2 Display Looks So Blurry
- How to play Delta Force Black Hawk Down campaign solo. Single player Explained
- Elden Ring Nightreign Enhanced Boss Arrives in Surprise Update
- 100 Most-Watched TV Series of 2024-25 Across Streaming, Broadcast and Cable: ‘Squid Game’ Leads This Season’s Rankers
- Jeremy Allen White Could Break 6-Year Oscars Streak With Bruce Springsteen Role
- MrBeast removes controversial AI thumbnail tool after wave of backlash
- KPop Demon Hunters: Real Ages Revealed?!
2025-07-04 08:47