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PHB is a Chinese coin used as a part of capital markets research platform. After listing on Binance, the market saw another phenomenal pump. He gave all holders a clear goal for the future. Is it a good investment? Should you hold this crypto? Read our price forecast to make a more grounded decision.

What is Red Pulse Phoenix (PHB)?

According to the project’s official webpage, Phoenix is a next evolution of Red Pulse, which is a tokenized research ecosystem for China. It consists of the website Redpulse.com and mobile app with push notifications based on topics, type of a company, and sectors.

The platform is needed to help ordinary users and large investors to understand the features of the main sectors of the Chinese economy. Phoenix is a large information project, which brings together a huge amount of data from different sources. Analysts are constantly working on updating information and excluding fakes, rumors, and subjective assessments.

PHB Coin

PHB is designed to power a new content production and distribution platform which is focused on capital markets in China. Anyone can start getting paid for sharing their knowledge about Chinese markets (read more on RedPulse Twitter page).

The project’s coin was named RPX earlier. In 2018, after the platform’s rebranding/updating, crypto exchanges supported the Red Pulse (RPX) token swap to PHOENIX (PHX). PHX Coin showed incredible growth on Binance in the end of October 2018. In May 2019, this coin was rebranded again due to moving the token ecosystem from NEO to Binance chain. Its new name is PHB (an impressive price rise followed this rebranding: history repeated itself).

You can buy the coins on three top exchanges Binance, Huobi, KuCoin, as well as on several other, less popular websites. But keep in mind that trading volumes are not very stable. Effective trading is currently possible only on Binance.

PHB Coin Price Prediction 2023

We’ve find some factors that may affect price of PHB coin in one way or another.

Potentially favorable factors include:

• Phoenix has recognizable brand with a good design.
• The website of the platform is relatively informative. There you can find so-called PHOENIX One-Pager (like very short Whitepaper), Development Plan, etc.
• There is staking crypto feature. To take advantage of it, you need to convert your PHX tokens into PHF (PHOENIX Fire).
• The economy of China has an immense potential.

Potentially unfavorable factors are as follows:

• There are so many altcoins in the cryptocurrency market. Some of them are offering features that are similar of those of Phoenix, for instance, Callisto has Cold Staking protocol.
• Redpulse.com website is not very popular at the moment. According to SimilarWeb, it is ranked 841, 543 worldwide.

We believe that in short-term perspective PHB price may decrease. Pumps are always followed by dumps. But as practice shows, highly pumped coins at Binance increase in value again after some correction. In addition, we think that Redpulse.com will develop in future and attract new writers, hence the token’s price will gradually increase. If during 2022 the project will be able to attract a sufficient number of users, then in 2023 the coin will be able to show a remarkable growth.

Technical analysis

The growth of September 2022 broke the technical analysis from many experts. On the other hand, we now clearly see the psychological levels.
If the coin falls below 28 cents, then this will mean the final collapse of the project in terms of the investment attractiveness of the token. However, there is little reason to believe that this will happen. There is a very interesting layer of liquidity below the level of 0.4812, which will most likely be removed to start a new stage of growth.

If you look at the chart from a bullish position, then the clear target is the level of $1.4. It is not so easy to achieve it, but with the right market conditions, the price. can make a squeeze even higher than these values. Will ATH be overcome? This is much less likely. There are not many jokers up the sleeve of the project.

Find our PHB price forecast for 2023 in the table below.

Disclaimer. This information should not be used as investment advice. It is of educational nature only. Always do your own research before investing in crypto-coins and trading.