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The Peanut the Squirrel price plunged 19% in the last 24 hours to trade at $1.67 as of 11:15 p.m. EST on trading volume that plummeted 57% to $3.6 billion.
Peanut The Squirrel Price Currently Bearish – Aims For A Bullish Trend Reversal
The Peanut the Squirrel price recently experienced a sharp upward movement, peaking near $2.50 before entering a consolidation phase, according to data from GeckoTerminal. The trend was bullish initially, as evidenced by the strong upward price movement and the steep climb of the 50 Simple Moving Average (SMA) on the 1-hour chart.
The falling channel has now driven the price of Peanut the Squirrel to trade slightly below the 50 SMA, which shows that the asset is on a slight retrace. However, PNUT still trades above the 200 SMA ($0.57), an indication that the asset may still be in a bullish phase.
Moreover, the Relative Strength Index (RSI) is currently at 45.13, which is below the midpoint (50), indicating that the momentum has cooled off after the recent peak. The RSI being in this range suggests that the asset is neither overbought nor oversold, leaning slightly bearish but potentially stabilizing. If it starts to trend back toward 50 and above, it could signal renewed buying interest.
If the current bearish stance continues along the channel, the Peanut the Squirrel price could plunge, with the next possible support level at $1.00.
Meanwhile, a breakout above the descending channel or flag with increased volume could trigger a resumption of the uptrend, potentially retesting the recent high around $2.50.
Meanwhile, investors looking for alternatives may want to consider Crypto All-Stars (STARS), a new innovative ICO that has raised over $3.7 million and hurtling towards the $4 million mark.
According to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, STARS has the potential to soar 10X after its launch.
Crypto All-Stars Presale – Best Meme Coin to Buy Now?
C͏rypto All-S͏t͏a͏r͏s is a revolutionary project that b͏ring͏s a M͏emeVault eco͏syste͏m to the cryp͏to wor͏l͏d. This͏ e͏cos͏ystem allows hold͏ers o͏f vari͏ous mem͏e c͏oins to͏ e͏ar͏n rewards that are paid out in its native ͏token, ͏STARS.͏
The project’s staking protocol allows investors to stake popular meme coins for combined rewards, offering both capital growth and passive income.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
The meme coins that can be staked on Crypto All-Stars include Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
You can also earn passively through the project’s native staking mechanism, which offers an impressive 445% annual percentage yield (APY).
You can buy the token now for $0.001568. The price will increase in slightly more than two days, so act fast to lock in the best deal.
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