- Plume’s newest partnership has stimulated Bullish Sentiment behind the token
- Structure on the 1-day graph and the technical indicators supported further profit for plumes
The EVM-compatible blockchain plum [PLUME] is in the news today after it has announced a partnership With World Liberty Financial (WLFI), which is closely related to US President Donald Trump. This strategic partnership is intended to speed up the expansion of WLFIs Stablecoin, USD1. As part of the collaboration, the USD1 Stablecoin will be integrated as a spare active of Plume’s on-chain stablecoin-pusd.
This integration can set up new roads for market participants who want to have access to institutional quality Real-World Assets (RWA) financing options.
The announcement came late in the day on July 1. On Wednesday 2 July, Plume rose by 17% higher. With a market capitalization of only $ 209 million, it would not be necessary much capital to make the price higher. That is why traders must be on their guard to call the top too early or try to go too short too early.
Plume turns the level of $ 0.1 to support, but was rejected in the June supply zone
Source: Plume/USDT on TradingView
Plume managed to break his 1-day market structure. This break on the market structure took place on July 1, marked in white. Although the internal structure of 1 days was bullish, it should be noted that token has been a southern to the south since May. In fact, the Swing structure Beerarish has remained.
To understand the following resistance zones, a set of Fibonacci retracement levels was set out based on the swing movement of Plume in the past two months. The levels of $ 0.158 and $ 0.181 were the retracement levels of 61.8% and 78.6% to pay attention. In the meantime, the Bearish Order block was tested at $ 0.123 from 10 June as a resistance on July 2, and Pluimbulls were made here.
However, they do not have to worry for too long. The OBV defeated its local high from June, a sign of more demand in recent days. The trade volume bars confirmed this fact. The RSI also climbed above neutral 50 to indicate a bullish shift in Momentum.
At the time of the press, the indicators and the prize action of Pluim agreed and revealed that further profits can probably be in the coming weeks. Investors can bet on a long -term recovery, while traders can look to buy plume as long as it acts above the psychological support of $ 0.1.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer