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The Biaoqing price pumped over 13% in the last 24 hours to trade at $0.02513 as of 12:00 a.m. EST as investors start to re-accumulate the meme coin.
This 24-hour surge comes after a period of bearish movement by the crypto. However, the recent uptick was not enough to push the altcoin’s weekly performance out of the red zone. As such, the BIAO price is still down more than 11% over the past 7 days.
The Biaoqing Price Regains Key Technical Support
4-hour chart for BIAO/USD (Source: GeckoTerminal)
The Biaoqing price was able to reclaim the $0.02334 support level in the last 24 hours. Therefore, the meme coin could now have the technical foundation needed to try and overcome the $0.03334 resistance level. If bulls are able to push BIAO above this point, the crypto might then rise to as high as $0.04733 in the short term.
However, the Biaoqing price breaking below $0.02334 within the next 24 hours could invalidate the bullish thesis. In this alternative scenario, the meme coin might be at risk of falling to the subsequent mark at $0.01335 in the following 48 hours.
The Biaoqing Price Might Keep Climbing As Bullish Technical Signs Emerge
Technical indicators on BIAO’s 4-hour chart suggest the crypto might continue to rise in the coming 24 hours. This is after the Moving Average Convergence Divergence (MACD) line crossed above the MACD Signal line in the last 24 hours.
Traders could see this as a major bullish technical flag, which suggests the Biaoqing price has entered a short-term positive trend. Should the MACD line start breaking away above the MACD Signal line, it might also indicate that BIAO’s bullish momentum is growing stronger.
Meanwhile, the Relative Strength Index (RSI) is below 50, which could signal that bears still have the upper hand against bulls on BIAO’s 4-hour chart. However, the indicator is starting to develop a more positive slope. If the RSI begins to climb soon, it could rise above 50.
Buyers will then have gained an advantage against sellers, and could look to push the Biaoqing price higher in the following 24 hours.
If both of these technical flags are validated, then BIAO might be able to break above the $0.03334 barrier and potentially rise to the next major resistance at $0.04733.
BIAO’s potential rise might lead to investors re-entering the meme coin market, which could benefit the Dogecoin derivative PlayDoge (PLAY).
A Modern Twist On A 90s Gaming Classic
PlayDoge (PLAY) is a blockchain gaming project centered around the 90s Tamagotchi game. Back in the 90s, these virtual pets were a hit with more than 82 million units sold globally. However, gameplay was somewhat limited and the digital animals would inevitably die, forcing players to reboot their system and start all over.
Built on top of blockchain and crypto technology, PlayDoge seeks to introduce a much more engaging experience that rewards players for taking care of their virtual companions. By making sure their pets get enough love, food and attention, players stand to earn PLAY tokens.
The game will also come with mobile support, allowing players to interact with their pets on the move and potentially enable them to earn more rewards as well.
Given the rapid growth experienced by the blockchain gaming sector and the already-flourishing meme coin space, it is no wonder that analysts are excited about PlayDoge. Renowned crypto YouTuber Jacob Bury recently discussed the meme coin in a video, and said that it could be the next 10X opportunity to hit the market.
Investors Rush To Scoop Up PLAY
More than $5 million has already been sent to PlayDoge’s ongoing presale. Beyond its speculative potential, the 132% APY being offered to ICO buyers could be a factor pulling investors in.
Anyone that wants to get in on the early rewards can do so through the project’s official website. Embedded on the home page of the site is a simple buy widget, which can be used to purchase PLAY using either ETH, USDT, BNB or bank card.
The token is currently selling for $0.00512. However, investors will want to hurry, because PLAY’s price is scheduled to increase during the subsequent stages of its presale. Once purchased, the tokens will need to be staked for investors to earn up to 132% in annual rewards.
Purchase PLAY here before its price increases.
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