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PundiX NPXS Breakout Analysis – Parabolic Breakout on NPXS with +150% Gains in a Single Day
PundiX NPXS just pumped up to +150% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at the NPXS price analysis and possible reasons for the recent breakout.
What is NPXS?
Pundi X (NPXS) aims to make the use of cryptocurrency as a form of payment into a reality for retailers and consumers alike. By applying the technology to a series of real-world use cases such as cards and the XPOS point-of-sale devices, the team has built products that could accept the NPXS token for goods and services. With the goals of supporting retail intelligence, marketing & loyalty programs as well as inventory & order management systems, the Pundi X Point-of-Sale device could help to support digital commerce worldwide.
NPXS Quick Stats
| SYMBOL: | NPXS |
| Global rank: | 116 |
| Market cap: | $111,022,009 AUD |
| Current price: | $0.0006 AUD |
| All time high price: | $0.0201 AUD |
| 1 day: | +150.41% |
| 7 day: | +180.79% |
| 1 year: | +299.07% |
NPXS Price Analysis
At the time of writing, NPXS is ranked 116th cryptocurrency globally and the current price is $0.0006 AUD. This is a +180.79% increase since 3rd January 2021 (7 days ago) as shown in the chart below.
If we see the above 1-day candle chart, NPXS did a strong parabolic breakout from the rising wedge pattern while trading sideways from the last few days around $0.00025 AUD price levels & is now heading towards its major resistance of the year 2020 which is $0.0012 AUD. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, NPXS looks well-positioned to hit the next high price levels.
“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”
If we zoom out and take a look at the price over the past few months or so, we can see the recent breakout more clearly, the line is almost vertical which is looks insane.
What do the technical indicators say?
The NPXS TradingView indicators (on the 1 day) mainly indicate NPXS as a buy, except the Oscillators which indicate NPXS as a neutral.
So Why did NPXS Breakout?
The recent rise in Bitcoin over +300% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying NPXS for the next Altcoins rally & it could also be contributed to some of the recent news of XPOS Transactions in the United States.
Recent NPXS News & Events:
- 03 October 2020 – Q3 Report
- 31 December 2020 – Coin & Token Integrations
- 31 December 2020 – LATAM Marketing Campaigns
- 31 March 2021 – XPOS Exansion to MPOS
Where to Buy or Trade NPXS?
PundiX NPXS has the highest liquidity on Binance Exchange so that would help for trading NPXS/USDT or NPXS/ETH pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.
Author
Malik Junaid
Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.
