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The Gorilla price jumped 50% in the last 24 hours to trade at $0.007385 as of 6 a.m. EST on trading volume that skyrocketed 496% to $4.8 million.
While the token’s price surge likely has a lot to do with the continued crypto market rally led by Bitcoin, its developers launched the Beta version of the Gorilla Launchpad on February 29.
🚨 The BETA version of our Launchpad is live on our website! 🚨
You can preview the progress of our BETA Gorillapad here: https://t.co/irkSbcJXUL
Our hardworking developers are close to completing the final version. This will go live very soon! 🍌
Gorillapad will be the… pic.twitter.com/UgnbEdMMSa
— gorillatokenio (@gorillatokenio) February 29, 2024
The so-called Gorillapad has not yet seen its full release, but its team said its working tirelessly to deliver the full version as soon as possible. The anticipation of what’s still to come is likely partly behind the token’s climb.
Gorilla Price Prognosis
Gorilla price surge can be traced to several factors, including the fact that this is a meme coin, meaning that it belongs to a group of crypto that typically perform very well under all kinds of market conditions. When they are favorable like they are now, meme coins tend to thrive, and this is exactly what is happening with GORILLA.
Speaking of favorable market conditions, Bitcoin continues to run its pre-halving rally, and it is now extremely close to its ATH from 2021.
The hype has extended to altcoins as well, which is yet another reason for the Gorilla price to surge. Add the anticipation of its upcoming launchpad, and it is clear why the token is doing as well as it is.
However, the traders are now interested in what will happen next, which is why many are turning to technical indicators. GORILLA token’s Bollinger bands have seen massive widening in the last 12 hours — even larger than the one seen on February 2. This is an extremely bullish sign, and good news for traders.
However, the project’s Relative Strength Index (RSI) has recently entered deep into the overbought zone, reaching the value of 84.03. Since then, it has dropped to the current value of 66.51, which is much closer to the neutral zone, but still quite high.
According to the RSI’s behavior, it appears that the drop has stopped, suggesting that the bulls are managing to outperform the bears.
While a portion of traders moved to take profit, the demand for GORILLA tokens is still strong. On the token’s chart, however, it is clear that the resistance at $0.0080 is a strong barrier, and that the token is struggling to breach it.
However, given the fact that the market is still controlled by the bulls, it is possible that Gorilla will break this resistance in hours to come, and potentially venture further up toward $0.0090, and maybe even reach $0.01.
Alternatively, if the buying pressure drops, the token could drop to $0.007, and possibly sink as far down as to $0.005. However, technical indicators currently suggest that Gorilla still has some room to grow. With that said, this rally is caused by fundamental factors, rather than technical ones, so caution is highly advised.
Promising Alternatives to Gorilla
One of the most promising alternatives to Gorilla right now is a new token called Green Bitcoin (GBTC). This is a project that introduced Gamified Green Staking, which allows exponential rewards, and up to a 100% token bonus.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
Green Bitcoin presents itself as an extraordinary opportunity in the world of crypto, allowing users to earn big by predicting Bitcoin trends. This allows crypto veterans, but also beginners, to transform their market insights, or simply try to earn on gut feeling.
https://www.youtube.com/watch?v=JubQhMozlOA
So far, the project has attracted a lot of interested crypto enthusiasts, as it combines Bitcoin’s legacy with Ethereum’s eco-friendly blockchain.
Those interested have already rushed to buy the project’s token in the ongoing presale, allowing Green Bitcoin to raise $1.7 million while selling its token for $0.5742 apiece.
The presale allows users to obtain GBTC in exchange for ETH, USDT, credit or debit card. Users can also buy the token with BNB.
Visit GBTC presale here.
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