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The Biaoqing price dropped 10% in the last 24 hours to trade at $0.02991 as of 10:23 p.m. EST on trading volume that plunged 30% to $6 million.
This comes despite BIAO being the top meme coin gainer in the past week with a 157% surge, according to CoinGecko.
Biaoqing Price Set For A Strong Trend Reversal Over The Ascending Triangle
The Biaoqing price has been on a tear since its launch at the beginning of this month, as it rose through a markup phase to hit an all-time high (ATH) of $0.0515, according to data from GeckoTerminal.
After reaching the ATH, the price of BIAO has been hitting lows and higher highs, fluctuating within the ascending triangle pattern.
BIAO price trades well above the 200-day Simple Moving Average (SMA), a confirmation that the token is set to still soar in the long term. If the bulls sustain this stance, the price of BIAO may still soar past the $0.03510 resistance level (50-day SMA).
However, the price of Biaoqing has retraced to the lower boundary of the triangle, and with it, the Relative Strength Index (RSI), which is hurtling towards the 30-oversold level, currently trading at 38.
Biaoqing Price Prediction
The Biaoqing price technical analysis indicates that BIAO is currently on a slightly bearish trend, but still trades within the ascending triangle pattern. The bulls may capitalize on this to push the token above towards the upper boundary of the triangle as they target a new ATH at $0.075.
Moreover, with the RSI crossing oversold levels, the bulls may start buying more, which may push the token higher.
Conversely, if the bears continue exerting more pressure at this level, the token may breach the $0.02960 critical support to push the token below the triangle, with the bulls retreating to the next support zone at $0.02239.
Meanwhile, as the ‘Pepe of China’ gears up for a bullish rally, other investors are buying into the new meme coin presale Pepe Unchained (PEPU),
YouTube channel 99Bitcoins says PEPU is one of the best cryptos to buy now, and has the potential to soar 100X after its launch.
Pepe Unchained Garners Over $363K In Presale – New Layer 2 Meme Coin To Watch
Pepe Unchained raised over $150,000 within minutes of its launch and has since rocketed past $363K.
Pepe Unchained aims to follow in the footsteps of its predecessor, the original Pepe (PEPE), which is now the third-biggest meme coin in the crypto market with a market cap approaching $5 billion.
But it’s the first Pepe token to run on its own proprietary Ethereum Layer 2 blockchain. With this, the project is aimed at tackling the scalability, speed, and efficiency issues that often plague meme coins built on the Ethereum Layer-1 blockchain.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
Being a Layer-2 blockchain meme coin, Pepe Unchained will allow investors to seize market opportunities with greater efficiency.
And one won’t need to hold on for dear life (HODL) in anticipation of blistering returns because they’re offered from the start via a 7,606% annual percentage yield (APY) for staking PEPU tokens.
You can buy $PEPU tokens for $0.008 each. With a price hike coming in less than two days, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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