PJN is currently in the early phase of a trend reversal with the market in a wait-and-see mode. The daily chart structure shows narrow range consolidation, short-term moving averages are flattening, and trading volume remains sluggish. This indicates a shift to cautiously optimistic market sentiment, yet lacks sustained volume confirmation. Constrained by an overall decline in market liquidity, PJN is highly vulnerable to large trades in the short to mid-term, resulting in heightened volatility and reduced risk appetite. It is recommended to monitor key resistance zones ($1.20-$1.30); a breakout with strong volume could open up upside potential, otherwise, high-frequency oscillations will likely persist. Short-term positions should strictly adhere to stop-loss discipline and position management.

Recent analyses suggest that the crypto market is starting to show signs of a turning point, but more data is needed to confirm its sustainability. In this context, PJN's daily performance has been characterized by narrow range convergence and consolidation, with short-term moving averages flattening and overall trading volume remaining low. This pattern is typical of an early-stage trend reversal in a wait-and-see mode. If clear volume expansion follows, a directional breakout may occur. Otherwise, volatility within the range is likely to persist, intensifying short-term long-short battles.

CryptoQuant analyst Darkfrost noted on January 4 that the cryptocurrency market is beginning to improve, urging caution against dismissing this trend prematurely. While more data is needed for definitive conclusions, some trend changes are starting to emerge, making this a critical time to pay close attention.

Analysis: The crypto market is beginning to improve, with some trend changes gradually becoming apparent.

Another set of data points out that short-term crypto market liquidity is significantly lower than that of the long-term or other thematic markets, with limited order book depth. In this environment, PJN's short- to mid-term trading is prone to large order impacts, leading to sudden spikes in volume or sharp pullbacks in individual candles. Insufficient liquidity not only increases price volatility but also raises the risk of shakeouts or cascading sell-offs, reminding traders to implement stricter risk controls for short- to mid-term positions.

Analysts maintain the $80,000 Bitcoin target; PCE inflation data release boosts market sentiment

Global news you need to know before the US stock market opens on Thursday.

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US Core PCE Price Index Year-over-Year in February at 3%, in line with expectations

US Core PCE annual rate slightly declined, monthly rate remained unchanged.

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PJN price today is 0.00, with a live price change of -0.03 in the last 24 hours. Convert, buy, sell and trade PJN on Bybit-eu.

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