Based on today's classical pivot point (P1) with the value of $1.27, Parallel has support levels of $1.25, $1.22, and the strongest at $1.20. Similarly, Parallel resistance levels are at $1.29, $1.31, and $1.34.
| # | Price | Strength |
|---|---|---|
| S1 | $1.25 | |
| S2 | $1.22 | |
| S3 | $1.20 |
| # | Price | Strength |
|---|---|---|
| R1 | $1.29 | |
| R2 | $1.31 | |
| R3 | $1.34 |
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) | 60.96 | NEUTRAL |
| Stoch RSI (14) | 100.00 | SELL |
| Stochastic Fast (14) | 87.84 | SELL |
| Commodity Channel Index (20) | 196.59 | SELL |
| Average Directional Index (14) | 22.93 | NEUTRAL |
| Awesome Oscillator (5, 34) | 0.02 | NEUTRAL |
| Momentum (10) | 0.08 | NEUTRAL |
| MACD (12, 26) | 0.01 | NEUTRAL |
| Williams Percent Range (14) | -12.16 | SELL |
| Bull Bear Power (13) | 0.06 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 54.40 | NEUTRAL |
| VWMA (10) | 1.23 | BUY |
| Hull Moving Average (9) | 1.27 | BUY |
| 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 VeChain (VET), Bitcoin (BTC), Jupiter (JUP), Aerodrome Finance (AERO) and Aave (AAVE) and most negatively correlated with the price of Chiliz (CHZ), XDC Network (XDC), JUST (JST), TRON (TRX) and Sun Token (SUN).
| Name | Correlation |
|---|---|
| VeChain | 0.890 |
| Bitcoin | 0.875 |
| Jupiter | 0.874 |
| Aerodrome Finance | 0.872 |
| Aave | 0.869 |
| Name | Correlation |
|---|---|
| Chiliz | -0.648 |
| XDC Network | -0.459 |
| JUST | -0.456 |
| TRON | -0.384 |
| Sun Token | -0.276 |
Parallel price is positively correlated with the top 10 coins by market cap with a price of 0.736, excluding Tether (USDT) and positively correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.610.
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.
