news 
PLUME crypto gathers steam for recovery with 28% gains since Monday – Details
The EVM-compatible blockchain Plume [PLUME] has been making significant strides in the market, with a remarkable 28% gain since Monday. This sudden surge in value comes on the back of a recent partnership announcement with World Liberty Financial (WLFI), which is closely related to U.S President Donald Trump. The collaboration aims to accelerate the expansion of WLFI’s stablecoin, USD1. As part of this integration, the USD1 stablecoin will be incorporated as a reserve asset for Plume’s on-chain stablecoin – pUSD. This integration can potentially set up new avenues for market participants seeking to access institutional-grade real-world assets (RWA) finance opportunities.
The announcement arrived late in the day on July 1st and triggered an 17% spike the following day, as investors reacted positively to this groundbreaking news. Given the token’s current market capitalization of just $209 million, it would not require a substantial amount of capital to drive prices higher. Therefore, traders are warned against calling the top too early or attempting shorting too soon.
PLUME managed to break its one-day market structure on July 2nd, which is characterized by a bullish internal structure (highlighted in white). Although the 1-day internal structure was optimistic, it’s essential to note that the token has been trending downwards since May. The swing structure remains bearish for this cryptocurrency.
To anticipate potential resistance zones going forward, a set of Fibonacci retracement levels were plotted based on PLUME’s price action over the past two months. This analysis revealed 61.8% and 78.6% retracement levels to monitor at $0.158 and $0.181 respectively.
On July 2nd, the bearish order block from June 10th ($0.123) served as resistance for Plume’s bulls. However, this recent surge suggests that these investors will not be deterred by this setback. In a sign of growing demand, the On Balance Volume (OBV) surpassed its local peak set in June, indicating enhanced buying pressure lately.
The Relative Strength Index (RSI) also shifted above neutral 50, signaling a shift towards momentum-driven growth. As it stands, the indicators and price action align to suggest that further gains may be imminent over the coming days. As a result, investors can confidently bet on an extended recovery, while traders might consider acquiring PLUME as long as it remains above psychological $0.1 support.
Source: ambcrypto.com
