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The EGO price skyrocketed 34% in the last 24 hours to trade at $0.02317 as of 02:33 a.m. EST on trading volume that surged 93% to $3.2 million, according to CoinGecko.
EGO Price Aims For A Bullish Trend Reversal
The EGO/USD chart analysis on the 4-hour timeframe displays a sharp upward movement starting around Nov. 11, with the EGO price spiking from approximately $0.00805 to a high of $0.03750. This reflects a significant bullish breakout from the previously flat or slightly declining trend.
Following the breakout, the price has entered a falling wedge pattern. This is an indication that a sliding price is starting to lose momentum and that buyers are starting to move in to slow down the fall.
The price of EGO now trades well above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart. EGO being above the SMAs is a signal that the asset is currently on a sustained bullish momentum.
The Relative Strength Index (RSI) is at 59.34, which is in the neutral-to-bullish range. It is not yet overbought, leaving room for further upward price action.
Furthermore, the Moving Average Convergence Divergence (MACD) line (blue) is attempting to cross above the signal line (orange), which could indicate the start of a bullish phase if sustained.
EGO/USDT Chart Analysis (Source: Tradingview)
EGO Price Prediction
According to the EGO price analysis, the chart shows a bullish bias, as the bulls aim to breach the upper boundary of the wedge. If the price breaks above the upper trendline with strong volume, it could resume the uptrend.
The immediate resistance is the upper boundary of the triangle ($0.02317), while a stronger one lies near the recent swing high at $0.03750. If the bulls breach these levels, the EGO price could soar even higher, as they target $0.060.
Meanwhile, if the bears take charge of the price at this level, immediate support lies at the 50 SMA ($0.02049) and the $0.020 psychological level. Further support is at $0.01167, where the initial breakout occurred.
As the EGO price aims for a bullish rally, some investors are turning to meme coins like the newly launched Flockerz (FLOCK) for the greater explosive upside potential that’s found in presales.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Raises Over $2.6 Million In Blockbuster Presale
The Flockerz presale continues to gain traction in the meme coin space, with over $2.6 million already raised and moving steadily toward the $3 million milestone.
Flockerz is a community-controlled meme coin powered by its unique Vote-to-Earn (V2E) incentive mechanism. Holders of FLOCK can earn additional tokens by participating in key decision-making processes that shape the project’s future.
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters. In this way, FLOCK holders have a say in critical decisions such as protocol changes, budget allocations, adjustments to tokenomics, grant approvals, investment strategies, etc.
To participate in the voting process, users must buy FLOCK tokens. The greater the number of tokens you own, the more influence you have in voting. When a new suggestion is presented, members of The Flock vote.
The flock is flying high! We’ve officially crossed $300K! pic.twitter.com/MsLc5PeoyX
— Flockerz (@FlockerzToken) September 28, 2024
Apart from VTE rewards, users can earn passively through the platform’s staking mechanism, which is offering a sky-high annual yield of 811%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.0060772 per token using BNB, ETH, or USDT. You can also make a purchase using your bank card. Buy before a price hike in slightly more than a day to secure the best deal.
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