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The Bitcoin Gold price skyrocketed 106% in the last 24 hours to trade at $17.10 as of 6:58 p.m. EST on trading volume that surged 1,200% to $1.88 billion, according to CoinGecko data.
Bitcoin Gold Price On A Bullish Trend Reversal
The Bitcoin Gold price has experienced a significant reversal in the past few days, with the price surging from around $8.41 to $17.10. This breakout follows a prolonged downtrend that saw the price of Bitcoin Gold trading within a falling channel pattern. The parabolic breakout above this channel indicates a potential bullish reversal, signaling a shift in momentum.
The Bitcoin Gold price also broke above the 50-day Simple Moving Average (SMA) at $9.71, a key short-term resistance level, and is rapidly approaching the 200-day SMA at $20.78. BTG price surge, along with the strong breakout volume, suggests a possible continuation of this bullish trend in the near term.
Meanwhile, the Relative Strength Index (RSI) is currently at 91.58, indicating extreme overbought conditions. While this reflects strong bullish momentum, such elevated RSI levels suggest that the price could be due for a short-term correction or consolidation before continuing higher.
The Moving Average Convergence Divergence (MACD) line (blue) has crossed above the signal line (orange) and is rising, indicating a bullish crossover. The histogram is expanding into positive territory, suggesting increasing upward momentum.
BTG/USDT Chart Analysis Source: Tradingview
Bitcoin Gold Price Prediction
Given the current price action and indicator readings, the Bitcoin Gold price is poised for further upside in the short term, though the extreme RSI suggests caution due to potential overbought conditions.
If the bullish momentum continues, the price may test the 200-day SMA at $20.78. A successful breakout above this level could open the door for a move toward $25 or higher in the medium term.
However, a short-term correction or consolidation around the $15-$17 range is likely, given the overbought RSI. Support at the 50-day SMA ($9.71) should provide a strong floor if the price pulls back.
Meanwhile, investors are also rushing into the Best Wallet ($BEST) presale, which Crypto Gains, a YouTuber with more than 144K subscribers, says can easily 10X.
Best Wallet Presale Amasses Over $6.4 Million In Presale – Next Crypto To Explode?
BEST is a utility token with a fully functional cryptocurrency wallet that allows users to buy, sell, store, and swap digital assets.
💎 What can holding $BEST unlock for you? 💎$BEST isn’t just a token—it’s your key to maximising everything Best Wallet has to offer:
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— Best Wallet (@BestWalletHQ) December 23, 2024
Investors continue to pour into the project, which has now amassed over $6.4 million in presale.
Among the many features of Best Wallet, one stands out: Upcoming Tokens. This tool helps users discover promising projects that are still in the early stages.
Join Best Wallet and gain all the tools you need to stay ahead. 💎
With features like exclusive access to Upcoming Tokens and rewards for early adopters, it’s no surprise we’re the fastest-growing crypto wallet.
Download now 📲 https://t.co/he5kzra7TY pic.twitter.com/xf2pY03CZw
— Best Wallet (@BestWalletHQ) December 16, 2024
The tool’s success is clear. It identified Pepe Unchained (PEPU) when it was in presale at $0.00992. The price jumped to $0.06858 shortly after, giving early buyers a 500% return.
Another success was Catslap (SLAP), a meme coin that provided over 3,000% returns for those who bought early after Best Wallet flagged the crypto.
In addition, the wallet enables users to stake their BEST tokens for a huge 316% annual return.
You can get into the project early by buying $BEST Token today for just $0.023475. Interested investors should secure tokens before the next price increase in less than 17 hours.
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