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The Gorilla price dropped 6% in the last 24 hours to trade at $0.00518 as of 00:015 a.m. EST on trading volume that rose 214% to $3.3 million.
Despite this recent drop, Gorilla’s price has still surged by 67% over the past 14 days. This recent momentum is driven by the community’s anticipation of the IDO Launchpad’s launch and enhancements in cross-chain trading.
https://twitter.com/onlytimeAI/status/1757625063753339271
Will the team live up to the expectations of the new features?
Gorilla Price Trades Below The Lower Boundary Of The Ascending Triangle
Since the beginning of February, the price of Gorilla has seen a significant rise, facing resistance around the $0.00824 mark. Throughout this period, there has been considerable stability, with buyers repeatedly challenging this resistance level.
This has led to the formation of an ascending triangle pattern in the price movement. However, the price has retraced to breach the lower boundary of the triangle.
GORILLA is currently trading below the 50-day Simple Moving Average (SMA), aligning with the immediate resistance level of $0.0062. Yet, it is trading above the 200-day SMA, indicating potential for a price reversal.
The crossing of moving averages at $0.003 further supports the possibility of a price rebound. Meanwhile, the Relative Strength Index (RSI) is declining towards the 30-oversold territory, standing at 36, which matches the ongoing price trend and signals significant selling pressure.
The Moving Average Convergence Divergence (MACD) indicator shows the MACD line (in blue) trading just below the signal line (in orange), suggesting a minor pullback with the potential for an upcoming price reversal and subsequent rebound. This is further corroborated by the movement of the red bars on the histogram, which appear to be trending upwards.
Gorilla Price Prediction
The short-term analysis of the GORILLA price shows that it is most likely to rebound to trade within the ascending triangle. The bulls are aiming at a reversal, looking at a breach that will see them surpass the lower boundary of the ascending triangle to test the $0.0082 mark again as they aim for $0.01.
However, the bears may continue exerting pressure on the price, with $0.0044 acting as a cushion against downward pressure.
Meanwhile, as Gorilla bulls are looking for the best entry levels, Sponge V2 is attracting heightened interest. Experts are encouraging investors to recognize its potential as a promising cryptocurrency that could mirror the success of Sponge V1, which skyrocketed 100x after launch.
Buy Sponge V2 Before Exchange Listings
Sponge V1 gave investors 100x returns on their investments. If you missed that surge, there is still an opportunity to earn big with Sponge V2, which is set to launch soon on major exchanges.
If you missed out on $SPONGE V1, don't miss out on #SpongeV2!
Time to stake your $SPONGE! 🚀🧽#MemeCoin #Web3 #Altcoins #BullMarket #Bullish #Trade pic.twitter.com/oNwatR7ihw
— $SPONGE (@spongeoneth) February 10, 2024
Upon its launch, Sponge V1 had a huge following, garnering over 13,000 holders, who rallied its market capitalization to $100 million. The token was also listed on more than ten major exchanges, including BitMart, Toobit, and LBank.
However, Sponge V1 was discontinued earlier this month, with its holders transferred to the more secure and cost-efficient Sponge V2 on the Polygon Network.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
Stake $SPONGE V2 For 195% Annual Rewards
Sponge V2 differs from its predecessor in that it brings about new features, one of which is play-to-earn (P2E) gaming, aimed at bringing in new investors and players.
The development team is set to launch Sponge Racer, a game that will feature both a free version and a paid version. As a player, you will have the opportunity to race and earn token rewards.
Exciting news, #SPONGERS! 🌟🧽🧽#SpongeV2 is now live! Visit our website to buy and stake $SPONGE V2.
Check it out below! 👇https://t.co/nFOSl1ZCD9#MemeCoin #Web3 #Crypto #Altcoins #CryptoStaking pic.twitter.com/T4DCAKhcxF
— $SPONGE (@spongeoneth) February 6, 2024
You can also buy and stake your Sponge V2 tokens to earn an impressive 195% annual percentage yield (APY).
Crypto analyst Jacob Bury says that Sponge V2 has the potential to 100X at launch.
To join the presale, visit the official Sponge V2 website and link your digital wallet to swap your ETH or USDT for V2 tokens. You can also buy directly using your bank card.
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