PolkaRARE (PRARE)

1. Fundamental Analysis

1.1 Introduce

PolkaRARE is a web3 economy that allows any user or a brand to create, trade, and discover NFTs. By leveraging NFT’s provable scarcity, transferability, and polkarare’s offerings, we aim to unlock the maximum potential of NFTs. PolkaRare is powered by PolkaDot, Polygon, Ethereum, & Binance Smart Chain. Most NFT platforms are based on Ethereum. However, current Ethereum network congestion issues have become a bottleneck for NFT creation and trading. Polkarare platform targets to be a multi-chain NFT platform, where creators and users can optimize the blockchains they want to use, and seamlessly transfer them across different networks. The initial phase of the platform allows NFT creation on Ethereum and Polygon chains. In phase 2, we will add NFT creation on the BSC and gradually extend it to other blockchain networks.

1.2 Basic Info

2. Technical Analysis

2.1 Kline Data

2.2 Analysis

The recent price action exhibits a short-term bearish trend following a period of consolidation and prior upward momentum. While some minor upward corrections are possible, the overall outlook suggests a continuation of the downward trajectory in the near future. Significant support levels need to be broken before a sustained bullish reversal can be expected. The volume data indicates periods of increased trading activity correlating with price volatility, suggesting a potential lack of strong underlying buying pressure. A cautious approach with a bearish bias is recommended for the short term. Further observation of price action and volume is critical for refining this outlook.