Powsche consolidating nicely at previous support

It has been a round end of the week on many coins across multiple chains, with an outlier.

Powsche has been holding strong around the $6-7M mark which was a previous area of support before the run up to almost $14M MC. As with any run up some people chose to take profits, which is to be expected and this has allowed the chart to cool off a bit, consolidate and push some of the weak hands out.

This is understandably a crucial step for any project in the space, as it encourages healthy token distribution as people take profits and give their tokens to people who actually want them and hold long term visions.

Every major project needs these areas of cooling off and it is something that Powsche didn’t have the luxury of on the run to $28M in early April. Without these cool off areas in a climb it allows people to just keep holding and taking much more liquidity with them when they do choose to finally take profits.

What this all means is that Powsche chart is looking like it is set up for a push HIGHER before the end of the year. I for one, am excited.

PAW

RWD