MemeCore Steadies Over $1 as Momentum Builds Toward New Peak
koinmilyoner
Updated at: 2 hours ago
{"content":"MemeCore Steadies Over $1 as Momentum Builds Toward New Peaks 🔥
By the time this article was published on Thursday, MemeCore had risen by 4%, continuing its upward trend for the sixth consecutive day. After reaching a new all-time high of $1.14 on Wednesday, the meme currency has seen some little declines in value.
Nevertheless, MemeCore continues to maintain its control above the psychological threshold of $1.00 and is challenging the resistance level of $1.07, which is represented by the R1 pivot resistance on the 4-hour chart. It is necessary for the M token to have a decisive close above the $1.07 level in order to continue the rally towards the R2 pivot resistance level, which is located at $1.47.
The statistics from CoinGlass revealed that MemeCore's Open Interest had increased by 43 percent in the last twenty-four hours, hitting a new all-time high of $99.4 million. This added to the optimism that was already there. It has been three days in a row that the trading volume of the meme currency has been over one billion dollars, which is an indication of rising interest.
As the Moving Average Convergence Divergence (MACD) and its signal line continue to prolong the uptrend, the momentum indicators on the 4-hour chart indicate that there is a significantly increased amount of purchasing pressure. A further indication of increased bullish momentum is the fact that the Relative Strength Index (RSI) is now hovering over the overbought border at 77, indicating that it is moving higher.
A possible dip below the $1.00 level might test the $0.89 support level, which served as a short-term barrier earlier this week. This is something to keep in mind if you are looking down.
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