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The Bitcoin Maxi Tears price plummeted 78% in the last 24 hours to trade at $0.001047 as of 04:59 a.m. EST on trading volume that surged to $1.7 million.
The Bitcoin Maxi Tears (BMT) token launched on the XRP Ledger (XRPL), which was playfully poking fun at the rivalry between Bitcoin Maximalists and the rising Ripple (XRP) community.
Bitcoin Maxi Tears Price Forms A Bearish Falling Wedge
The BMT price on the 15-minute chart indicates a clear falling wedge pattern, as defined by the blue parallel trendlines. This pattern represents a steady bearish trend, with the Bitcoin Maxi Tears price forming lower highs and lower lows throughout the observed period.
The BMT price is currently trading near the lower boundary of this channel at $0.001047, showing some attempts to stabilize.
The candlestick structure suggests weak bullish momentum in the downward channel, with occasional upward wicks testing the upper trendline resistance. However, these moves have failed to break the upper boundary, leading to further downward pressure.
Additionally, the 50-period Simple Moving Average (SMA) acts as a dynamic resistance, with prices consistently trading below it. The moving average line is sloping downward, reinforcing the bearish trend and indicating a lack of buyer strength.
The RSI is currently at 35.32, indicating a near-oversold condition. While this suggests that selling pressure has been dominant, it could also hint at potential exhaustion among sellers.
Meanwhile, the blue Moving Average Convergence Divergence (MACD) line is below the signal line and is trending into negative territory, showing continued bearish momentum.
BMT Price Prediction
Given the current price trends and indicator readings, the BMT price is likely to remain bearish in the short term, with the price potentially retesting the lower boundary of the negative channel at $0.001042.
However, if the RSI continues to approach oversold levels or the MACD shows signs of a bullish crossover, a reversal may occur.
In that case, the first resistance to watch is the upper channel line near $0.001070, followed by the 50-period SMA at $0.001162. A breakout above these levels would signal a potential bullish trend shift.
As the BMT price soars, investors are also buying a new meme coin called Meme Index (MEMEX). According to crypto analyst and YouTuber Jacob Bury, who has over 54k subscribers, MEMEX has the potential to be the next 10x crypto.
Meme Index Presale Closing On The $3 Million Milestone
Meme Index is the world’s first decentralized meme coin index that’s currently in its presale phase. The project has already raised $2.9 million and continues to gain momentum.
The MEMEX token features several investment baskets, including the Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index.
Each basket caters to varying risk appetites, from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking a thrilling investment experience with potentially huge rewards.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
MEMEX holders can also participate in the project’s presale staking pool, which currently provides a stratospheric annual yield of 769%.
You can purchase MEMEX tokens on the official website for just $0.0155933 to participate in the presale.
Buy MEMEX here to lock in the best deal before its price increases in less than 22 hours.
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