Based on today's classical pivot point (P1) with the value of $1.22, Parallel has support levels of $1.20, $1.18, and the strongest at $1.15. Similarly, Parallel resistance levels are at $1.24, $1.27, and $1.29.
| # | Price | Strength |
|---|---|---|
| S1 | $1.20 | |
| S2 | $1.18 | |
| S3 | $1.15 |
| # | Price | Strength |
|---|---|---|
| R1 | $1.24 | |
| R2 | $1.27 | |
| R3 | $1.29 |
Technical indicators are an essential tool for conducting technical analysis. They provide insights into an asset's market status, investor sentiment, and more, thereby helping investors make more informed trading decisions.
| Period | Value | Action |
|---|---|---|
| RSI (14) | 49.24 | NEUTRAL |
| Stoch RSI (14) | 67.38 | NEUTRAL |
| Stochastic Fast (14) | 55.90 | NEUTRAL |
| Commodity Channel Index (20) | 2.64 | NEUTRAL |
| Average Directional Index (14) | 15.51 | NEUTRAL |
| Awesome Oscillator (5, 34) | -0.00 | NEUTRAL |
| Momentum (10) | -0.00 | SELL |
| MACD (12, 26) | -0.00 | NEUTRAL |
| Williams Percent Range (14) | -44.10 | NEUTRAL |
| Bull Bear Power (13) | 0.01 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 39.54 | NEUTRAL |
| VWMA (10) | 1.22 | SELL |
| Hull Moving Average (9) | 1.22 | SELL |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 1.22 | NEUTRAL |
Over the past 7 days, Parallel price was most positively correlated with the price of Shiba Inu (SHIB), Bonk (BONK), Floki Inu (FLOKI), Stacks (STX) and Immutable X (IMX) and most negatively correlated with the price of Sun Token (SUN), Canton (CC), Algorand (ALGO), JUST (JST) and BitTorrent (BTT).
| Name | Correlation |
|---|---|
| Shiba Inu | 0.547 |
| Bonk | 0.543 |
| Floki Inu | 0.542 |
| Stacks | 0.523 |
| Immutable X | 0.519 |
| Name | Correlation |
|---|---|
| Sun Token | -0.355 |
| Canton | -0.223 |
| Algorand | -0.099 |
| JUST | -0.098 |
| BitTorrent | -0.090 |
Parallel price is positively correlated with the top 10 coins by market cap with a price of 0.198, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.212.
Currencies that are positively correlated with Parallel indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Parallel, a move in one direction for Parallel would translate into a move in the opposite direction for the negatively correlated coin.
