Pundi X (NPXS) coin started off the new year with a meagre price of $0.00017 but the cryptocurrency has been on a steady upward trajectory since the beginning of the new year. Pundi X established it 52-week high in the recent bull run at a price level of $0.0075. However, the bearish downturn of the market has affected Pundi X too. The coin, too, has abandoned its upward trend and is going downhill. At the time of writing, Pundi X was trading hands at $0.0059 apiece.
Pundi X is ranked at 60th in the market with a capitalization of $1,541,054,158 which decreased by 10%. The price of the cryptocurrency decreased by 10% in the 24-hour timeframe while the daily trading volume shot down by 30%. Is the coin going to pick up or will it succumb to the bears?
Technical analysis
The market sentiment for Pundi X continues to be majorly bullish with the technical indicators giving out a signal of buy. Of the total indicators, nine are standing at a neutral position with fourteen indications of buy and three indications of sell. The market is dominated by buyers and it appears as though the dominance of the buyers will continue for a while despite the bearish outlook of the overall market.
The NXPS cryptocurrency is nearing a major Fibonacci resistance level lying at the price level of $0.007 while strong Fibonacci support lies $0.0007. A trader has identified a parabolic upward trajectory for Pundi X. Given the performance of the coin, the trader is suggesting a long position on Pundi X and is expecting the cryptocurrency to climb to $0.022.
Future predictions
Wallet Investor projects that Pundi X coin will stabilize at a price level of $0.008 in a year’s time while the coin is set to stand at a price level of $0.013 in five years’ time. Wallet Investor has given Pundi X a good rating and suggests that the cryptocurrency can a good long-term investment.
Digital Coin Price predicts that the cryptocurrency will be valued at $0.011 in 2021 and the price of Pundi X is expected to continue going upwards over the years. Digital Coin Price’s five-year estimation suggest that Pundi X will be standing at $0.029.
Although estimates do not place the cryptocurrency anywhere near the $1 mark, it is still a good long-term investment. The market sentiment for the coin is bullish even during market corrections and even though the cryptocurrency was not able to skirt near its all-time high, NPXS still resulted in major gains for investors and traders.
Pundi X (NPXS) with the aim to make crypto transactions as easy as anything may be close to achieving its mission. The network has been actively garnering partnerships with institutions as well as governments. Pundi X aims to distribute point of sale smart devices to small retailers in order to ensure the ease of transactions in cryptocurrencies.
