What's next for Echelon Prime?
Key Takeaways
- Echelon Prime has seen a notable surge in price in April thanks to a positive trend in the gaming tokens market.
- PRIME has hit its all-time high in March of 2024.
- Our price predictions suggest an upward movement will begin soon.
The crypto game market is experiencing rapid growth, fueled by the innovative strides made by developers within this niche. In this sector, artificial intelligence (AI) stands out, allowing creators to craft ecosystems.
One such example is Colony, developed by Parallel as an integral component of the Echelon Prime Foundation’s Web3 ecosystem. Positioned within this dynamic landscape, Colony holds the potential to emerge as a compelling ecosystem in 2024.
On Aug. 26, 2024, PRIME exchanged hands for $8.52.
Let’s examine our price predictions for Echelon Prime,made on Aug. 26, 2024. We will also investigate the PRIME price history and discuss what PRIME is and does.
Echelon Prime Price Prediction
Here are the PRIME price predictions from CCN on Aug. 26, 2024. Price forecasts should be taken cautiously, especially for something as volatile as crypto. Our PRIME crypto price predictions will use the wave count method to predict its future movement.
We will add and remove 20% from the target price to provide a range of possible outcomes, resulting in minimum and maximum PRIME price predictions.
| Minimum PRIME Price Prediction | Average PRIME Price Prediction | Maximum PRIME Price Prediction | |
|---|---|---|---|
| 2024 | $10.10 | $12.70 | $15.10 |
| 2025 | $20.20 | $25.30 | $30.10 |
| 2030 | $90 | $110 | $130 |
The most likely wave count suggests that PRIME has completed a five-wave increase starting in June 2023. The upward movement led to an all-time high price of $28.14 in March 2024. Then, it declined 83% in what was likely an A-B-C correction that took half the time of the upward movement.
If a similar movement transpires after the correction, PRIME will reach a high of $110 in June 2025. Then, the ensuing decline can take it to $25.30 in November, a target we will use as the PRIME prediction for the end of 2025.
So, the wave count gives PRIME price predictions of $12.70 and $25.30 for the end of 2024 and 2025, respectively.
Finally, we use the daily rate of increase since launch to make a PRIME price prediction for the end of 2030. Doing so leads to a PRIME price prediction of $110 for the end of 2030.
Echelon Prime Price Prediction for 2024
Our wave count method leads to a PRIME price prediction range between $10.10 and $15.10 for the end of 2024.
Echelon Prime Price Prediction for 2025
Our wave count method leads to a PRIME price prediction range between $20.10 and $30.10 for the end of 2025.
Echelon Prime Price Prediction for 2030
Using the daily rate of increase we arrive at a PRIME price prediction range between $90 and $130 for the end of 2030.
PRIME Price Analysis
The daily PRIME price chart shows a decline inside a descending parallel channel since the all-time high in March. In June, PRIME broke down from the channel, resulting in a low of $4.63 on Aug. 5.
Shortly afterward, the price bounced and reclaimed the channel’s support trend line on Aug. 25. This is a bullish development suggesting the decline is over. During the increase, PRIME also reclaimed the $7 horizontal support area.
The entire increase was preceded by a bullish divergence in the daily MACD (green). So, continuing the climb to the channel’s resistance trend line at $11 is the most likely future outlook.
Short-Term PRIME Price Prediction
The PRIME price prediction for the next 24 hours rests on the assumption that PRIME will bounce at the channel’s support trend line and then increase toward its resistance. If a similar rate of increase is followed, the PRIME price will be trading lower tomorrow but then will reach the channel’s resistance trend line in the first week of September.
PRIME Average True Range (ATR): PRIME Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Aug. 26, 2024, PRIME’s weekly ATR was 4, implying average volatility. The ATR has increased since the start of the year. Divided by the $8.30 PRIME price, the ATR is 0.4.
PRIME Relative Strength Index (RSI): Is PRIME Oversold or Overbought?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and 30 show overbought and oversold conditions, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Aug. 26, 2024, the PRIME weekly RSI was at 44 showing a bearish trend. The weekly RSI fell below 50 in May. However, the indicator has increased since August.
Best Days and Months to Buy PRIME
We looked at the PRIME price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy PRIME.
| Time to Buy PRIME | Best Days, Weeks, Months and Quarters |
|---|---|
| Best Day | Sunday |
| Best Week | 46 |
| Best Month | November |
| Best Quarter | Fourth |
PRIME Price Performance Comparison
PRIME is part of the gaming ecosystem, so let’s compare it to other similar projects.
| Current Price | One Year Ago | Price Change | |
|---|---|---|---|
| Echelon Prime | $8.34 | $3.39 | +155.4% |
| Apecoin | $0.73 | $1.42 | -49.3% |
| Ronin | $1.75 | $0.55 | +216.1% |
| The Sandbox | $0.29 | $0.33 | -10.4% |
Echelon Prime Price History
Let’s now take a look at the Echelon Prime (PRIME) price history . While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting an Echelon Prime/USD price prediction.
2023: Echelon Prime first entered the open market in March 2023, with an initial price of $5.4611. The coin remained relatively low for the rest of the year but saw a notable increase in December, closing 2023 at $9.4844.
2024: Echelon Prime had a strong start to 2024, fueled by positive sentiment across the cryptocurrency market. The price surged to an all-time high of $27.60 on March 20, 2024. Following this peak, PRIME experienced a retracement, dropping to $24.66 by April 9, 2024.
The token then underwent a series of fluctuations: it fell below $14 in mid-May, bounced back above $17 shortly after, and dropped again to around $15 in early June. The price continued to decline, reaching $8.32 by August 26, 2024.
| Period | Echelon Prime Price |
|---|---|
| Today (Aug. 26, 2024) | $8.30 |
| Last Week (Aug. 19, 2024) | $6.09 |
| Last Month (July 26, 2024) | $7.44 |
| Three Months Ago (May 26, 2024) | $18.46 |
| Last Year (Aug. 26, 2023) | $3.03 |
| Launch Price (March 2, 2023) | $5.46 |
| All-Time High (March 21, 2024) | $27.60 |
| All-Time Low (May 25, 2023) | $1.21 |
PRIME Market Cap
The market capitalization, or market cap, is the sum of the total number of PRIME in circulation multiplied by their price. On Aug. 26, 2024, Echelon Prime’s market cap was about $298 million, making it the 169th largest crypto by that metric.
Who Owns the Most Echelon Prime (PRIME)?
As of Aug. 26 2024, one wallet held more than 31% of the supply of PRIME.
Richest TON Wallet Addresses
On Aug. 26, 2024, the five richest PRIME wallet addresses were
- 0xf9fb46038a8d9cdd11e14628d19ded145ef5a311. This wallet held 35,141,681 PRIME, or 31.36% of the supply.
- 0x4a3826bd2e8a31956ad0397a49efde5e0d825238. This wallet held 18,946,814 PRIME, or 17.05% of the supply.
- 0xc28cff6802d11d903a838b8a4777d27870324b60. This wallet held 11,151,296 PRIME, or 10.04% of the supply.
- 0xc9a2f84cd6a20721e78dda52ad05905b47b01a21. This wallet held 7,312,329 PRIME, or 6.58% of the supply.
- 0x1c0a684a45c8aec7c6bd6da94bfaed044ec2fd88. This wallet held 15,726,867 PRIME, or 5.15% of the supply.
PRIME Supply and Distribution
| Supply and Distribution | Figures |
|---|---|
| Total Supply | 111,111,111 |
| Circulating Supply as of Aug. 26, 2024 | 44,528,633 (39% of the total supply) |
| Holder Distribution as of Aug. 26, 2024 | Top 10 holders own 79.66% of the circulating supply |
From the PRIME Whitepaper
In its technical documentation, or whitepaper , Echelon Prime says it is a non-profit organization dedicated to building and supporting a gaming and P2E ecosystem for game developers via an ERC-20 based Token (PRIME) and web3 tools that may be built upon the Echelon ecosystem.
“Echelon is not a company or a traditional non-profit. Rather, it is an ecosystem and set of tools dedicated to supporting and enabling a new generation of gaming innovation within a decentralized, community led environment.
“Echelon’s decentralization will encompass an infrastructure, including its PRIME token (PRIME) that will animate this ecosystem of games. It is making PRIME and P2E focused development tools available to the ecosystem, and the community will determine where to take things from there.”
Echelon Prime (PRIME) Explained
Echelon Prime is basically an ecosystem that creates better gaming experiences in Web3. It provides games with gaming economies while ensuring that decentralization and community are the priorities.
How PRIME Works
PRIME is the native token of the Echelon Prime Foundation, a Web3 ecosystem advancing the next generation of gaming. In particular, Echelon creates and distributes tools to encourage innovation in, and promote the growth of, novel gaming models and economies.
Is Echelon Prime a Good Investment?
It is hard to say. The coin hasn’t been around for a long time and, on the horizon, there’s no clear bullish or bearish sign.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in Echelon Prime.
Will Echelon Prime go up or down?
No one can really tell right now. While the Echelon Prime crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Echelon Prime?
Before you decide whether or not to invest in Echelon Prime, you will have to do your own research, not only on PRIME, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
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