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The Hund price pumped more than 10% in the past 24 hours to trade at $0.009509 as of 7:35 a.m. EST as investors frantically buy into the meme coin.
This meteoric rise by the HUND coin price was not enough to push the altcoin’s weekly performance out of the red zone. The crypto is still down 1% over that timeframe.
The Hund Price Resting On A Key Support
4-hour chart for HUND/USD (Source: GeckoTerminal)
The Hund price was able to break above the resistance level at $0.009138 over the past 24 hours. Bulls also attempted to push the altcoin’s price above the next major mark at $0.010181. Although the HUND coin price was able to rise above this threshold, it was not able to remain above this point for long as sellers quickly started exerting pressure on the crypto.
HUND is now testing the recently-breached $0.009138 mark as a result. Should it fall below this technical crutch within the next 8 hours, the altcoin could be at risk of dropping to $0.008221 in the following 24 hours.
Conversely, the Hund price maintaining a position above $0.009138 for the next 8 hours might invalidate the bearish thesis. In this alternative scenario, the altcoin could attempt another challenge at the $0.010181 resistance level.
A 4-hour candle close above this barrier could subsequently flip the price point into support. Traders might then enter into a long position for the crypto, which could lead to it rising to as high as $0.011098 in the short term.
Technicals Warn The Hund Price Might Be Losing Its Bullish Strength
Technical indicators on HUND’s 4-hour chart show that the crypto is currently in a short-term positive cycle. However, bearish signs are starting to emerge on the HUND coin price’s chart, which could suggest that the altcoin is losing bullish strength.
Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators warn the Hund price could drop in the next 24 hours.
Firstly, the MACD line is bullishly positioned above the MACD Signal line. However, the narrowing gap between the two lines indicates that HUND’s positive trend might be approaching its end. Traders will still want to keep an eye on this indicator, because the MACD line crossing below the MACD Signal line could signal the Hund price has entered a bearish phase.
Meanwhile, RSI readings are oscillating in the mid 60s. This suggests that the HUND coin price is still showing bullish strength. It does, however, seem that buyers are starting to lose their strength against sellers, which is evident by the current negative slope of the RSI line. The RSI dropping below 50 might indicate a major bearish shift in momentum.
While HUND’s technical indicators start to show bearish signs, investors continue to flock to its AI meme coin rival WienerAI (WAI) for potential parabolic gains.
Helping Traders Navigate The Volatile Crypto Markets
The crypto markets are notoriously volatile, with price fluctuations of more than 10% not out of the norm. WienerAI (WAI), with its powerful AI-powered trading bot, aims to be a loyal companion for crypto traders.
WienerAI’s sophisticated predictive technology has been fine tuned to the digital asset market, and has the ability to uncover opportunities hidden deep within heaps of data.
Traders and investors can therefore tap into WienerAI’s computer models to make more informed decisions as market trends change.
In addition to its AI, the project also offers traders a seamless swap solution, as well as MEV bot protection. Not only does this mean that WienerAI can flag any opportunities that traders might have missed, it also enables them to capitalize on them as soon as they appear.
With everything WienerAI has to offer, it is no wonder crypto YouTuber ClayBro told his 130,000 subscribers that WAI could explode 10X after launch.
Investors Bet Big On WAI’s Future
WAI’s presale has performed exceptionally well over the past few weeks, and has managed to raise over $6.9 million so far.
Adding to the project’s potential is the high APY currently on offer to presale buyers. Anyone that purchases and locks up WAI tokens at this early stage gains access to 163% in annual rewards via the project’s lucrative staking program.
To become eligible for this APY, investors can acquire the token via the simple buy widget embedded on WienerAI’s website. Selling for $0.000724, the meme coin can be bought using either ETH, USDT, BNB or bank card.
Purchase and stake WAI here for up to 163% in annual rewards.
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