Title: PolySwarm’s NCT surges by 62% in 5 days, more gains expected

At the time of writing, PolySwarm’s NCT has broken through its four-month high, exhibiting significant trading volume that suggests a sustainable uptrend. This momentum is expected to continue.

CryptoCrypto has conducted an in-depth analysis of on-chain activities and price movements to identify potential bullish targets. The period of long-term consolidation appears to be reaching its conclusion.

Is it Wise for Buyers to Await a Retest?

Normally, a breakout from a range is followed by a test of the previous highs for support. A positive response post-retest in the coming days signals the possibility of a bullish trend continuation.

Investors in NCT should monitor for this specific trend as it unfolds. While the breakout may persist, cautious investors may opt to observe from the sidelines.

The token has seen a 68% rally in the past five days, with an overbought reading of 77 on the RSI indicating potential selling pressure.

Although a pullback is not guaranteed, investors might consider purchasing at $0.02 or $0.024 should the latter support level be breached without a prior drop to $0.02.

Key Fibonacci levels are expected to serve as critical resistance points during the upward trajectory. Each breached level will strengthen the bullish sentiment and likely attract increased trading volume.

Inactive Tokens Suggest Limited Selling Pressure

The 30-day MVRV stands at 37.38%, indicating that short-term holders are on average 40% profitable. However, the dormancy indicator suggests no significant rush to sell.

Although profit-taking is imminent, as elevated MVRVs tend to normalize towards neutral levels, the coin age trend has been declining since August, implying a distribution phase pre-breakout.

Disclaimer: All views presented are solely the author’s opinion and do not constitute financial, investment, or trading advice.