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The Gorilla price surged over 30% in the last 24 hours to trade at $0.007082 as of 12:40 a.m. EST as investors bet big on the meme coin.
With this recent gain, the GORILLA price managed to remove its weekly performance from the red zone with a 14% jump over seven days.
The Gorilla Price Has Formed A Positive Trend Line
4-hour chart for GORILLA/USD (Source: GeckoTerminal)
The Gorilla price printed a series of higher highs and higher lows on the 4-hour chart over the past 24 hours, resulting in the formation of a positive trend line. During the past day of trading, the meme coin also managed to overcome the resistance level at $0.006388.
Should GORILLA continue to trade above the recently-formed trendline, it could soon attempt to flip the $0.007366 resistance into support. Thereafter, the meme coin might rise to as high as $0.008531 if the bullish pressure persists.
On the other hand, the bullish thesis could be invalidated if the Gorilla price breaks below the ascending trend line within the next 12 hours. In this alternative scenario, the meme coin might end up testing the aforementioned $0.006388 mark, and possibly drop to as low as $0.005177 in the short term.
The Gorilla Price Starting To Lose Some Of Its Bullish Steam
Technical indicators on GORILLA’s 4-hour chart suggest the meme coin might keep climbing in the next 12 hours, but also warn that the meme coin is losing some of its momentum. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs.
During the past 48 hours, the MACD line crossed above the MACD Signal line. Traders usually see this as a sign that a crypto has entered a positive cycle. This seems to have been the case, since GORILLA’s price went on to overcome the $0.006388 not long after the MACD and MACD Signal lines crossed.
Meanwhile, the RSI is well above 50, which suggests the meme coin still has a lot of bullish strength. However, traders will want to keep an eye on this indicator.
Although the RSI is positively sloped to signal that buyers are still growing stronger, its high value could soon be seen as a short entry. This is because the indicator currently shows that GORILLA’s downside potential is greater than its upside potential.
The MACD Histogram is also starting to level off, which might be an early warning that GORILLA’s positive cycle is approaching its peak.
With the Gorilla price losing some of its bullish backing, traders might turn their attention to new AI meme coin WienerAI (WAI) and the 235% APY it’s offering investors.
More Than Just Another Meme Coin
The crypto market has been flooded with new meme coins all trying to make a name for themselves in the digital asset space. However, many of these new tokens come with almost no utility, if any at all. This is why WienerAI stands out.
WAI is a meme coin that is powered by sophisticated AI technology. The team’s primary goal for the project is to create a loyal and smart companion for crypto traders.
With its predictive technology, WienerAI can assist traders and investors in making more informed decisions.
UPGRADE your trading strategy.
The WienerAI Trading Bot will be your trusted trading companion, leveraging AI to make savvy and predictive moves in a dynamic market. pic.twitter.com/uYCRAWRd2N
— WienerAI (@WienerDogAI) June 1, 2024
In addition to its advanced AI, WienerAI also offers token holders a seamless token swap solution called Sausage Swap, as well as protection from MEV bots. All of these handy features come with zero fees.
A Potential 10X Opportunity
Investors have flocked to WAI’s ICO, which has raised over $4.6 million so far.
Analysts are also bullish on the meme coin. In a recent video, YouTuber Jacob Bury named WAI as one of the top six meme coins to watch. He also said that WienerAI could be a 10X opportunity.
Anyone that wants to get in on WAI before this possible price explosion can do so through the simple buy widget embedded on the project’s official website. Selling for $0.000715, the meme coin can be bought using either ETH, BNB, USDT or bank card.
Investors interested in acquiring the token might want to act fast, however, since the meme coin’s price is set to increase in a fraction more than two days.
Purchase WAI here before its price increases.
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