Phoenix Global Price Prediction 2023: PHB Price May Mark New ATH beyond $2.6 

Key Takeaways:

• The Phoenix Global price has dropped more than 50% since its peak in 2023 after surging by nearly 250%
• The bears have outpowered the bulls presently and appear to maintain their dominance for a while post to which a fine upswing could be imminent
• The token has become less volatile and also prone to face huge loss in the coming days, as bearish trend may not perish soon

Read More: Gala Price Prediction

Phoenix Global  Price History

• Phoenix, the layer 1 & 2 blockchain infrastructure first traded in November 2017 and further underwent a redenomination of in November 2021
• Ever since the token was redenomination in the ratio of 100:1, the price kept on plunging until the end of 2021 and throughout the year 2022
• After marking the bottom in August 2022, the price underwent a significant upswing and reversed the trend to mark highs above $2
• Although, the price witnessed a decent pullback, yet maintained its strength and rebounded since the beginning of 2023
• The PHB price was getting closer to its ATH, while the bearish clouds surrounded the markets, dragging the value of the token, drastically

Phoenix Global Technical Analysis

Source: Tradingview

• The price is constantly dropping for nearly a month and now has reached the lower support of the descending triangle
• The MACD displays ease in the selling pressure, meaning that it the bulls may see a chance to enter and prevent the price from piercing through the lower support
• As volume is extremely low, the price may maintain a stagnant trend within the lowers support zone for a while
• However, as the MACD flashes a buy signal, the bulls are believed to rebound and further reach the resistance of the triangle. Here if the bulls maintain some strength, then a significant upswing toward the next resistance marked could be imminent

Overview of Phoenix Global On-chain Analysis:

Phoenix Global Sharpe Ratio

Source: Messari.io

Every investment carries the possibility of incurring profit or loss and hence they are subjected to risks. Sharpe ratio compares the return of an investment with its risk. It is the widely used method to measure risk-adjusted relative returns. It can also help to analyze whether the incurred profit of a portfolio is a calculated move or just luck.

The Sharpe ratio above 1 is usually considered a ‘good’ which offers excess returns relative to volatility. A negative ratio, as in the present case, occurs either when the investment is lower than the risk-free rate or forecasts the possibility of a negative return. However, the investors prefer a positive ratio expecting higher returns.

Phoenix Global Volatility

Source: Messari.io

The volatility of a token refers to the price fluctuations around its mean price which is believed to be healthy with a steady increase or decrease within a decent price range. It also can be extreme causing sudden price movements in either direction. Volatility is also a measure of the dispersion of the price over a period of time. 

Cryptos are generally considered highly volatile and subjected to sudden and massive price swings. High volatility flashes the possibility for high returns as the price fluctuations are huge compared to that of lower volatility. Currently, the levels are negative which suggests the price variation is less and hence it may continue hovering in the current direction for a long.

Additional Read: Top Altcoins 2023

Phoenix Global Price Prediction for 2023

The price since the start of 2023 has been bullish after losing momentum to bears in the first few weeks of its inception. The volume, however, is maintaining extremely lower levels and hence slashed the volatility to a large extent. Presently, the trend appears to have reversed as the prices have begun to head toward the south. 

However, fewer chances of a rebound may also be expected as the indicators are undergoing a bullish divergence which has to be validated. With the confirmation, the PHB price may rise and end the Q1 trade beyond $1. Further, it may maintain a consolidated trend and close the Q2 trade around $1.3. During the second half, the bullish momentum is expected to rise and end the yearly trade at around $1.67 to $1.91.

Phoenix Global Price Prediction for 2024

The PHB price may reclaim the levels above $2 in the first few weeks of 2024 and spark a fine upswing ahead. This ascending trend may further transform into a bull run as the bulls who have accumulated strength from the past few years are believed to utilize their power and uplift the price above bearish captivity.

The bull run could begin during the last few weeks of Q1 and prevail throughout the year ahead. The price after rising above its ATH may form new highs every day and reach beyond $3 by the end of H1 2024. During the second half of the year, the price is believed to mark new highs beyond $5. 

Phoenix Global PRICE PREDICTION 2025-2030

The bullish trend may prevail for the first few days of 2025, beyond which the token may face a drastic drop. The bears may begin to slash the prices hard and kick-start the bear market that may last throughout 2026, marking bottoms somewhere around $1.5 to $1.8. Meanwhile, the market participants may expect some relief in 2027 as a decent recovery phase may begin. 

The rally is expected to intensify its price variation including frequent spikes as bulls may begin to exhibit their strength in 2028. Further by the end of the year, a strong recovery phase may begin that may transform into a bull run in 2029 wherein the prices may soar beyond 2-digit figures. The price may reach close to $15 in 2030 and quickly fall into a bearish trap to end the yearly trade below $12.

Should you invest in Phoenix Global in 2023? 

Phoenix Global price has been withstanding bearish pressures ever since the token started to be traded in the markets. Although the markets currently are under extreme bearish action, the bulls are believed to regain their dominance very soon. Hence, the price could resume its upswing once the bears get exhausted. Besides, before making any investment, it is very important to carry out thorough research on the core fundamentals, the future vision, and the team behind the cause. Also, close observation of the price movements and chart patterns is imperative.

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