Join Our Telegram channel to stay up to date on breaking news coverage
Ampleforth (FORTH) soared past its June highs with a 24-hour surge of more than 31%.
Despite a recent minor retracement in its price, the overall technical analysis suggests that FORTH is poised for another bullish surge.
Ampleforth Price History Shows a Falling Wedge
Ampleforth’s price has followed a falling wedge pattern, influencing its movements since February 2023. This falling wedge pattern is characterized by a series of lower highs and lower lows, indicating a potential bullish reversal as the price approaches the end of the wedge. The breakout above the upper trendline of the wedge typically signals a bullish move.
After the breakout, the price retraced and retested the upper side of the wedge. However, the bears could not lower the price, allowing buyers to enter the market and drive the price higher.
The chart shows that FORTH’s upward surge started when it formed a lower low at the $2.07 mark on the lower trendline of the falling wedge. From there, the price gradually increased, forming a triple bottom pattern and culminating in an engulfing bullish candlestick.
Ampleforth Price is on a Bullish Recovery
The Ampleforth price chart indicates that FORTH encountered a decline following the formation of a shoulder-head-shoulder pattern, but it eventually rebounded from the bottom support level. However, the rebound has gradually resulted from the bears’ attempts to pull the price down.
Notably, during the gradual rise to $2.48, FORTH formed a triple bottom, a signal traders often interpret as an entry point for buying.
The technical indicators further support a bullish move for FORTH. According to analysis, the price broke above the 50-day and the 200-day exponential moving averages. Nevertheless, after reaching a possible double top at $3.83, FORTH is currently retracing and is trading slightly below the 200-day moving average. On the positive side, the 50-day exponential moving average (50 EMA) appears resilient, encouraging buyers to enter the market and potentially driving the price upward.
The relative strength index (RSI -14) is trading at 77, above the overbought region (70). While there might be a slight retracement towards the 70-level mark, the overall sentiment remains bullish.
Launchpad XYZ is an exciting project that offers a fantastic opportunity for investors who might have missed out on the FORTH price surge. The project is currently in its presale stage, making it an ideal chance for early investors to participate and benefit from its promising potential.
Launchpad XYZ ($LPX) Revolutionizing Crypto Trading
Launchpad XYZ (LPX) is an innovative AI-powered platform that empowers traders with cutting-edge tools and insights, enabling them to execute successful trades. More than just a trading platform, LPX is a decentralized ecosystem for launching projects and fundraising, fostering seamless connections between investors and entrepreneurs.
Ready to find the next 100x? 👀
Dive into Launchpad XYZ's innovative platform and find the next big opportunity in #Crypto 🚀
Don’t miss out! 😎👉 https://t.co/CrJA4Rk91H#LaunchpadKnows #Presale #Trade #Alts pic.twitter.com/wHhnXxK5kW
— Launchpad.xyz (@launchpadlpx) July 16, 2023
Launchpad XYZ goes beyond investments, supporting users’ learning journeys in the Web3 ecosystem through access to news and trends. LPX’s primary mission is to offer a secure and trustworthy platform for projects and entrepreneurs seeking funding and networking opportunities within the crypto ecosystem.
Launchpad XYZ offers a decentralized platform for fundraising, enabling investors to engage with promising projects like $PEPE, which has been rewarding for early backers. The platform’s sentiment analysis provides traders with valuable insights, giving them a competitive edge in a market influenced by institutional traders.
Massive Investor Interest, $1.16 Million in $LPX Presale Funding
LPX’s presale has been met with overwhelming enthusiasm from investors due to its utility and prospects. As a result, early investors have a unique opportunity to benefit from a guaranteed price increase once the LPX token hits exchanges.
The ongoing presale funding is nearing its goal of approximately $1.55 million. Each LPX token is currently selling for $0.0445 and will rise to $0.046 in the presale next stage. LPX will list on exchanges for $0.0565 once the presale ends. This will provide early investors with rewarding returns and incentivizing a surge in investor participation.
Acquiring Launchpad XYZ tokens is easy with popular cryptocurrencies like ETH and USDT or direct bank deposits, encouraging wider participation. With an exciting roadmap and comprehensive whitepaper, Launchpad XYZ is among the most promising crypto prospects in 2023.
Related News
- Meme-Meister Pepe Coin Had A Strong Saturday. What’s Next?
- BullBear AI Coin At All-Time High on CoinMarketCap. Can It 100x in 2023?
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage