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The Biaoqing price surged 40% over the past 24 hours to trade at $0.01162 as of 12:00 a.m. EST.
With this meteoric rise in the last trading day, the BIAO price was able to push its monthly performance out of the red zone. As a result, the meme coin is up more than 10% over the past 30 days.
The Biaoqing Price Trading In A Consolidation Channel
4-hour chart for BIAO/USD (Source: GeckoTerminal)
The Biaoqing price has been in a consolidation channel between $0.00704 and $0.01675 over the past couple of days. This period of sideways trading could be an accumulation phase before a strong move up.
BIAO overcoming the $0.01675 resistance level might be a confirmation of this potential bullish move. Should the meme coin clear this technical barrier, it could have the space needed to rise to the next major mark at $0.02750 in the following 24 hours.
On the other hand, the Biaoqing price getting rejected by the $0.01675 resistance level in the next 12 hours might invalidate this bullish thesis. Traders could then begin to reduce their exposure to the crypto in an attempt to mitigate risk.
Should a wave of sell volume hit BIAO’s charts, it might push the meme coin’s price down to the aforementioned $0.00704 price point. This will be a key level to watch, because falling below this mark could lead to the Biaoqing price falling to as low as $0.00114 in the short term.
Technicals Warn The Biaoqing Price Is Losing Its Bullish Support
Technical indicators on BIAO’s 4-hour chart are currently sending mixed signals, which suggests the meme coin’s price could go either way. The bullish signs shown by the Moving Average Convergence Divergence (MACD) are accompanied by a warning of diminishing buyer strength from the Relative Strength Index (RSI).
Throughout the past day of trading, the MACD line crossed above the MACD Signal line to indicate that BIAO has entered a short-term bullish phase. This technical occurrence was followed by the recent surge in the Biaoqing price.
Meanwhile, RSI readings have dropped over the past 8 hours and have also formed a double top, which might be an early sign of a bearish trend reversal. The RSI is still positioned above the 50 benchmark, which suggests that bulls maintain an upper hand against bears. However, the RSI dropping below 50 could signal that sellers have stolen the advantage.
The MACD line has also started to level off above the MACD Signal line, which could indicate that BIAO’s bullish momentum is starting to cool off. Since this is happening as the meme coin approaches resistance, traders might want to prepare for a possible drop in the Biaoqing price.
To prepare for this potential drop in the Biaoqing price, traders might shift into AI meme-coin WienerAI (WAI), which is one of the most successful presales this year.
A Powerful Toolkit For Crypto Traders
WienerAI (WAI) is a canine-themed meme coin that is different to those that came before it. With its sophisticated AI technology, the project is bringing unprecedented amounts of utility into the light-hearted sector of the crypto space.
More than just a bot–WienerAI is your ultimate crypto trading companion.
We're delighted to share some sneak peeks with our incredible and supportive community. (1/4) pic.twitter.com/kR8ypeJycj
— WienerAI (@WienerDogAI) June 11, 2024
Fine tuned to analyze the crypto markets, WienerAI will help traders and investors identify profit-making opportunities as soon as they appear. What’s more, the project also offers tools that enable traders to quickly get in on the opportunities before they disappear.
By introducing a seamless token swap solution and MEV protection, WienerAI will help traders identify and take advantage of scalp opportunities in the highly-volatile crypto market.
Investors will also be able to make more informed decisions given WienerAI’s ability to take in a lot of market data and almost instantaneously generate an output.
Investors Have One Last Chance To Buy Into WAI Early
More than $7.3 million has been raised through WienerAI’s ongoing presale, signaling strong investor confidence in the project’s future.
This bullish outlook on the meme coin was recently echoed by renowned crypto YouTuber, ClayBro. In one of his videos to his 130,000 subscribers, he predicted that WAI could surge 10X.
WAI’s presale is now in its final stage, and investors have only about 20 days left to buy the token before it lists.
To acquire the token, the simple buy widget embedded on the project’s website can be used. WAI is selling for $0.00073 and can be bought using either ETH, USDT, BNB or bank card.
With WAI’s ICO coming to an end, this is also the last chance for investors to become eligible for the lucrative staking opportunity on offer by the project. Anyone who buys and locks up WAI at this early stage gains access to a 154% APY.
Purchase and stake WAI here before its presale ends.
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