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The Hawk Tuah price plummeted over 49% in the last 24 hours to trade at $0.007491 as of 5:32 a.m. EST.
Despite the slump, the HAWKTUAH price remains up a stratospheric 1,251% since its launch.
Hawk Tuah went viral after a street interview video with ”the now infamous ‘Hawk Tuah Girl,’ a woman whose candid street interview has taken the internet by storm,” says the token’s website.
The Hawk Tuah Price Resting On A Key Support
1-hour chart for HAWKTUAH/USD (Source: GeckoTerminal)
The Hawk Tuah price printed multiple lower lows and lower highs on the 1-hour chart throughout the past 48 hours. This has resulted in the formation of a negative price channel. This sell pressure has also resulted in the crypto resting on the key support at $0.004741.
Traders and investors will want to keep an eye on this level, because it is also confluent with the lower boundary of the Bollinger Bands (BBANDS) indicator on the hourly chart. Therefore, a break below this technical crutch could expose HAWKTUAH to the risk of falling to $0.000535 in the short term.
On the other hand, the Hawk Tuah price maintaining a position above $0.004741 for the next 8 hours could invalidate the bearish thesis. In this alternative scenario, the altcoin might start to climb towards the $0.015412 resistance level.
With enough buy pressure, the crypto could overcome this barrier to possibly rise to as high as $0.027639 in the following few days. However, before the Hawk Tuah price can climb to this point, it will need to escape the aforementioned bearish channel that has formed on its charts.
Technicals Suggest The Hawk Tuah Price Is Starting To Consolidate
Technical indicators on HAWKTUAH’s 1-hour chart suggest the crypto’s price has started to consolidate. If traders identify the altcoin’s current level as a long entry opportunity, then the Hawk Tuah price could begin to climb soon.
As mentioned, the crypto’s price is resting on the lower boundary of the BBANDS indicator on the hourly chart. This point has acted as support for HAWKTUAH, with the past 2 retests of this technical safety net leading to price increases.
Meanwhile, the Relative Strength Index (RSI) indicator has leveled off in the high 30s. Usually, an RSI value below 50 is seen as a sign that a crypto is oversold. As such, traders might start to go long on HAWKTUAH, given the RSI suggests that the crypto’s upside potential is currently greater than its downside potential.
However, it is not unusual for the RSI to remain in oversold territory for sustained periods of time when a crypto is dumping. Traders might therefore want to wait for the Hawk Tuah price to escape its negative channel before buying into the altcoin.
While the Hawk Tuah price attempts to stay above key support, investors are rushing to buy Solana meme coin Sealana (SEAL) with only about 30 hours left in its presale.
Looking To Make A Splash In The Solana Meme Coin Space
Sealana (SEAL) is the latest crypto to enter the flourishing Solana meme coin space, which has raked in more than $5 million.
Unlike those that came before it, Sealana is not a dog-themed crypto. Instead, the project’s mascot is a lazy seal that aims to appeal to enthusiastic meme coin investors who are known for pumping crypto prices.
To ensure its appeal to this class of investors, Sealana does not come with an elaborate roadmap or detailed whitepaper, and relies solely on hype and organic community growth.
This approach seems to have worked, with Sealana’s X page amassing a substantial following of over 12K people. Its Telegram channel has also grown to more than 11K members.
Given the investor frenzy around Solana meme coins and Sealana’s lack of utility, it is no wonder analysts are labeling the token as a high risk, high reward opportunity.
Crypto YouTuber Matthew Perry recently discussed the crypto on his channel, and said Sealana “might be a gem.”
Gearing Up To Launch
Investors are rushing to buy Sealana at this early stage as its presale approaches its end. After the conclusion of its ICO, tokens will be airdropped to investors, with the distribution event suspected to take place on June 27.
As the #Presale countdown continues, everyone wants a piece of #Sealana! 🦭 Ellen DeGenerate got hers! 🎤 Sealana did not hold back! 🔊😤 He stated his mission of Lambos, Massive Gains & Freedom loud and clear! 🚀
Send $SOL now and tell him where to appear next! 🎧🦭 #MAGA #USA pic.twitter.com/kq0TOZTNY3
— Sealana (@Sealana_Token) June 22, 2024
As the ICO’s clock ticks down, there is still time for investors to get in on the meme coin before its launch. Anyone looking to acquire the token can do so through the crypto’s official website using the simple buy widget embedded on the site’s home page.
Selling for $0.022, SEAL can be bought using either ETH, USDT, BNB, SOL or bank card.
Purchase SEAL here before its official launch.
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