Picasso Network (PICA)
1. Fundamental Analysis
1.1 Introduce
Picasso is Composable’s layer 1 blockchain, built as a parachain on Kusama. Picasso acts as an infrastructure layer to pioneer interoperable DeFi solutions and functions as a home for substrate and CosmWasm based dApps through its implementation of the CosmWasm Virtual Machine. At its core, Picasso is a network for cross-chain infrastructure enabling the transfer of assets and cross-chain contract execution. Picasso is equipped with a robust set of novel DeFi primitives that are built as modular pallets. These pallets are designed to attract liquidity from the broader DeFi landscape whilst promoting interoperability between various ecosystems.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | PICA | Market Cap | 1255427.685108 |
| Name | Picasso Network | White Paper | -- |
| Web Site | https://picasso.xyz/ | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | https://picasso.subscan.io/ | Algorithm | -- |
| Forum | -- | Proof | -- |
| Mining | Total | 10000000000 | |
| Supply | 10000000000 | Release Date | 2023-08-10 |
| Available Supply | 4548651033 |
2. Technical Analysis
2.1 Kline Data
| Date | Open | High | Low | Close | Volumn |
|---|---|---|---|---|---|
| 2025-01-01 | 0.000274 | 0.000286 | 0.000266 | 0.000276 | 4798.40325628 |
| 2024-12-31 | 0.000333 | 0.000339 | 0.000243 | 0.000274 | 73672.43638388 |
| 2024-12-30 | 0.000343 | 0.00037 | 0.00031 | 0.000333 | 53910.69779338 |
| 2024-12-29 | 0.00035 | 0.00037 | 0.000325 | 0.000347 | 27636.07611535 |
| 2024-12-28 | 0.000395 | 0.0004 | 0.000336 | 0.000352 | 74195.26275446 |
| 2024-12-27 | 0.000385 | 0.0004 | 0.000374 | 0.000394 | 11630.22732989 |
| 2024-12-26 | 0.000399 | 0.000406 | 0.000371 | 0.000385 | 22138.93485877 |
| 2024-12-25 | 0.000418 | 0.000425 | 0.000383 | 0.000395 | 36023.49196473 |
| 2024-12-24 | 0.000384 | 0.000458 | 0.000367 | 0.000418 | 49282.00179486 |
| 2024-12-23 | 0.000406 | 0.000424 | 0.000365 | 0.000385 | 47525.78266684 |
| 2024-12-22 | 0.000396 | 0.00042 | 0.000387 | 0.000405 | 13390.49093662 |
| 2024-12-21 | 0.000412 | 0.000449 | 0.000381 | 0.000397 | 29088.30564083 |
| 2024-12-20 | 0.000373 | 0.00046 | 0.00035 | 0.000413 | 107104.55681886 |
| 2024-12-19 | 0.000476 | 0.000497 | 0.00034 | 0.000374 | 95970.48226006 |
| 2024-12-18 | 0.000518 | 0.000542 | 0.000408 | 0.000476 | 74841.33793897 |
| 2024-12-17 | 0.000531 | 0.000634 | 0.000501 | 0.000524 | 49741.68023129 |
| 2024-12-16 | 0.00062 | 0.000625 | 0.000527 | 0.000531 | 54037.87838805 |
| 2024-12-15 | 0.000595 | 0.000632 | 0.000558 | 0.000617 | 23138.34344957 |
| 2024-12-14 | 0.000621 | 0.000643 | 0.000563 | 0.000593 | 48961.77641657 |
| 2024-12-13 | 0.000679 | 0.000728 | 0.000577 | 0.000629 | 94782.66857226 |
| 2024-12-12 | 0.000721 | 0.000763 | 0.000638 | 0.000679 | 36930.64452423 |
| 2024-12-11 | 0.000701 | 0.000762 | 0.000593 | 0.000719 | 99722.80036021 |
| 2024-12-10 | 0.00077 | 0.001 | 0.000629 | 0.0007 | 142011.148318 |
| 2024-12-09 | 0.0009 | 0.000924 | 0.000709 | 0.000769 | 65954.19088393 |
| 2024-12-08 | 0.000906 | 0.000933 | 0.000805 | 0.0009 | 60017.48712019 |
| 2024-12-07 | 0.000711 | 0.001027 | 0.000691 | 0.000909 | 117535.01816041 |
| 2024-12-06 | 0.000646 | 0.000731 | 0.000628 | 0.000709 | 60360.18505647 |
| 2024-12-05 | 0.000612 | 0.000725 | 0.000583 | 0.000646 | 73670.89642659 |
| 2024-12-04 | 0.000581 | 0.000626 | 0.000551 | 0.000611 | 57213.60327596 |
| 2024-12-03 | 0.000602 | 0.000639 | 0.000535 | 0.00058 | 51214.10750074 |
2.2 Analysis
The recent price action shows a strong bearish trend reversal from the peak around 0.0007 to the current levels near 0.00027. While a brief period of consolidation and minor upward pressure is evident around the 0.0004 level, the overall trend remains bearish. Volume data corroborates this downtrend, showing significant increases in trading volume during periods of substantial price drops. Future price action is predicted to continue trending downwards, with potential support levels near 0.00025 and further downside possible depending on broader market conditions and any potential catalyst for a significant price rebound. Short-term price fluctuations are likely, but the overall bearish outlook is expected to persist. A sustained break above 0.0004 would indicate a potential trend reversal, though this remains unlikely in the near term.
