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The Black Agnus price has skyrocketed 438% in the last 24 hours to trade at $0.000003223 as of 6 p.m. EST on a 265% surge in trading volume to $7.5 million.
Black Agnus Price Faces A Resistance Within The Parabolic Curve
The FTW/USD trading pair shows an interesting and potentially bullish scenario. Currently, the price is trading above both the 50-period and 200-period simple moving averages, at $0.00000305, and $0.00000301, indicating a “golden cross.”
This is generally considered a strong bullish signal, where short-term momentum overtakes the longer-term trend. The fact that the price is above both of these levels adds weight to the idea that the market is in a bullish phase.
According to GeckoTerminal data, the recent price action shows a clear breakout from a parabolic curve, starting from around $0.0000028 and climbing to a high of $0.0000034. The parabolic nature of this move signals a strong upward thrust, suggesting a rapid acceleration in buying interest.
However, this pattern can be tricky because while it often leads to continued upward movement, it also signals a point where the market might start to overheat, leading to a potential pullback.
FTWUSD Analysis Source: Dextools.io
The ascending support line highlights the price’s consistent upward pressure. This support line has been tested several times, solidifying its strength around the $0.0000026 level. As long as the price respects this ascending trendline, the bullish outlook remains intact.
Momentum indicators provide further insights with the MACD showing a bullish crossover of the blue line moving above the orange line, indicating that the upward momentum is strengthening.
Furthermore, the green bars on the histogram confirm this bullish sentiment. While the MACD signals continued strength, traders should be cautious of sudden shifts in momentum.
The relative strength index (RSI) is currently at 54.30, sitting in neutral territory. This indicates that the market is not overbought, which leaves an opportunity for the bulls to catapult the price further upside. However, the price could move in either direction without a strong pullback or overextension signal.
Black Agnus Price Signals More Upside Coming
Based on the current setup, the price could continue to push higher, with the next resistance levels sitting around $0.0000035. Should buying pressure remain strong, we could even see the price test levels near $0.0000038.
However, if the parabolic rise fails to sustain itself and the price dips below the ascending support line, a move toward $0.0000026 or even $0.0000024 is possible. In the worst-case scenario, a further breakdown could lead to a test of the $0.0000020 level.
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