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The Pangolin price skyrocketed more than 112% over the past 24 hours to trade at $0.1874 as of 2:40 a.m. EST as investors bet big on the DEX token.
The Pangolin Price Looking To Break Resistance
4-hour chart for PNG/USDT (Source: TradingView)
The Pangolin price was able to break above the long-term consolidation channel between $0.07985 and $0.09325 over the past 24 hours. The price explosion continued as the crypto surged above both the $0.13500 and $0.19895 barriers as well. However, sellers were quick to take profit, causing PNG to fall back below the $0.19895 resistance level.
Should the Pangolin price close a 4-hour candle above this threshold within the next 12 hours, it may have the foundation needed to keep rising in the following 48 hours. This bullish thesis could be invalidated, however, if PNG is rejected by the $0.19895 resistance in the coming 24 hours. In this alternative scenario, the altcoin may drop to the immediate support level, which is situated at $0.13500. Continued sell pressure could then put the crypto at risk of dropping back to within the aforementioned sideways channel between $0.07985 and $0.09325 in the short term.
Technicals Warn The Pangolin Price May Correct In The Short Term
Technical indicators on PNG’s 4-hour chart suggest the Pangolin price may have reached a peak and could subsequently correct soon. The Moving Average Convergence Divergence (MACD) indicator shows that PNG’s positive trend is growing stronger. This is evident by the MACD line breaking away above the MACD Signal line.
However, the Relative Strength Index (RSI) on the 4-hour chart indicates that buying pressure has cooled down in the past 8 hours. The RSI line leveling off in overbought territory may be identified as a sell signal by traders given PNG’s downside potential is currently greater than its upside potential. Despite this, the RSI line is still positioned well above its Simple Moving Average (SMA) line, which is generally seen as a sign that buyers are stronger than sellers. As such, bulls still have an opportunity to drive the Pangolin price higher in the next 48 hours.
As the Pangolin price attempts to overcome another major resistance level, the presale for on-chain AI watchdog Scotty the AI is fast-approaching the $600K mark.
Cyber Criminals And Scammers Beware
Scotty the AI is an on-chain fraud detection and prevention project that employs sophisticated AI models to analyze endless lines of code. Through this analysis, the AI models are able to uncover insights and security vulnerabilities that even veteran smart contract auditors would miss.
Launched as a meme coin, it’s perfectly positioned to capitalize on the loyalty of its followers within the vibrant meme coin space. Adding to the project’s potential is the fact that it includes a high level of utility, while also tackling the growing threat posed by cyber criminals in the Web3 space.
There are currently two AI products on offer in the Scotty the AI ecosystem. The first is the meme coin’s token swap engine. Included in the swap product is sophisticated AI that can sniff out potential threats on the blockchain before executing seamless and secure token swaps. With this capability, token holders are warned of any suspicious transactions, which can then be stopped to prevent any loss of funds.
The other product offered within the AI watchdog’s ecosystem is a chatbot. Token holders can utilize this offering to safely navigate the expanding Web3 space.
Booming Presale
🚨 $SCOTTY # 1 #memecoin W/utility of 2024
🎉 smart investors smashed out Stage 5 in 3 days 😳
8 days ahead of time.🚀stage 6 now live and on the move. Price will increase at stage 7
Stage 1 – 5 closed out very early.
👉BUY $SCOTTY presale at https://t.co/zRmy4g8hfW… pic.twitter.com/kASVshEQW1
— Scotty The Ai (@ScottyThe_Ai) February 23, 2024
Investors are rushing to buy into the AI meme coin as its presale races towards $600K after launching just a few days ago. Selling for $0.0058, the project’s SCOTTY token can be bought using either Ether (ETH), Tether (USDT) or bank card on Scotty the AI’s official website.
SCOTTY can be purchased here.
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