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The Cate price has plummeted 22% in the last 24 hours to trade at $0.01907 as of 3:20 a.m. EST on a 30% surge in trading volume to $19 million.
Cate Price Signals A Bullish Rebound
The Cate price chart indicates a rounded top, which is a bearish reversal signal. It shows a gradual shift from buying to selling pressure.
The price peaked at around $0.050 before gradually declining, signaling weakening momentum. However, the presence of a double bottom around $0.01847 suggests the possibility of a bullish reversal.
This level has been tested twice and has held, implying that if prices remain above it, a rebound could be likely.
CATEUSD Analysis Source: Dextools.io
Technical Indicators Signal Potential Further Declines
Currently, the price is trading below both the 50-period moving average (SMA 50) at $0.02153 and the 200-period moving average (SMA 200), confirming both short-term and long-term downtrends.
The downward slope of the MA 50 further supports the bearish sentiment.
The MACD (12, 26, close, 9) analysis reinforces this sentiment. The MACD line at -0.00065172 sits below the signal line at -0.00031602, indicating prevailing bearish momentum.
The negative histogram also suggests that selling pressure is increasing, and without a crossover of the MACD above the signal line, the downtrend is likely to continue.
The Relative Strength Index (RSI 14) is currently at 43.45, signaling market weakness, though not yet in the 30 oversold territory. This reflects some indecision in the market but does not suggest an immediate buying opportunity. However, if the RSI were to drop below 30, it could indicate oversold conditions and potentially attract buyers for the Cate price.
Cate Price Prediction
The technical indicators, especially the MACD and moving averages, currently lean towards further downside unless bullish momentum develops.
There is a significant downside risk if the price breaks below the $0.01847 support level, with potential declines toward $0.015.
On the flip side, if the support holds, the price could rally to $0.02153 (the 50-period moving average) or even higher, potentially targeting $0.025 depending on the strength of the bullish momentum.
Shiba Shootout Presale Rockets Past $1.1 Million – Next Crypto To Explode?
Meanwhile, YouTuber ClayBro, with more than 130k subscribers, says the Shiba Shootout (SHIBASHOOT) presale ”could make millionaires” after its launch.
Shiba Shootout features a P2E game that is available on Google Play and the App Store, allowing early supporters to explore its concept. A big upgrade is in the works and will come soon.
Set in the fictional town of Shiba Gulch, the game immerses players in gunfights between Shiba Inu-themed cowboys. Players can earn SHIBASHOOT tokens and enjoy dynamic gameplay along the way.
The game also includes a ”Posse Rewards” referral program that enables users to recruit new members and earn tokens for themselves and their recruits.
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— shibashootout (@shibashootout) August 26, 2024
Shiba Shootout operates with a DAO-like system featuring Token Governance Roundups where all SHIBASHOOT holders can vote on important project decisions.
Apart from P2E crypto gaming, $SHIBASHOOT holders can also earn passively through the platform’s staking mechanism, which offers 851% in annual rewards. Holders have already staked over 38 million $SHIBASHOOT tokens.
SHIBASHOOT tokens sell for $0.0202 each right now. If you would like to join investors who have already pumped more than $1.1 million into the project, buy before a price increase in less than 3 days to secure the best deal.
Buy SHIBASHOOT tokens on the official website here using ETH, BNB, USDT, or a bank card.
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