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The Harambe price has soared 20% in the last 24 hours to trade at $0.01856 as of 6 a.m. EST on a 7% drop in trading volume to $547k.
Harambe Price: A Strong Support Zone
The daily price movements of the HARAMBE/USD pair hover near a significant support zone, marked in orange. This zone has proven its strength as buyers have repeatedly stepped in to prevent further declines whenever the price approaches this level.
Above is a key resistance level around the $0.045 mark, indicated by the dotted line. This level has been a formidable barrier in the past, with the price struggling to break above it on several occasions.
HARAMBE/USD Analysis Source: Dextools.io
Currently, the price trades below both the 50-day (in light blue) and 200-day (in dark blue) Simple moving averages which points to a bearish trend.
Furthermore, the 50-day SMA is positioned below the 200-day SMA, forming what is known as a “death cross,” which reinforces a bearish outlook, indicating that the market may continue to face downward pressure.
Harambe Price Indicators Signal More Upside Coming
The Relative Strength Index (RSI), a momentum oscillator, currently reads 48.96. This places it in neutral territory, not signaling that the market is overbought or oversold. Thus, the RSI does not provide a strong directional cue at this time, leaving the market’s next move open to possibilities.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows a slight bullish signal. The MACD line (blue) has recently crossed above the signal line (orange), which can be an early sign of a potential upward reversal or at least some short-term bullish momentum.
Given these observations, several scenarios could unfold. If the support zone holds and bullish momentum builds, the price might rally towards the major resistance level at $0.045.
Successfully breaking above this resistance could pave the way for a more substantial upward movement.
However, if the support zone fails to hold, the price could experience a breakdown, leading to further declines.
In this case, the market would need to find the next level of support, which would be lower than the current zone.
Alternatively, the market might enter a consolidation phase if the price remains within the current support zone without a decisive move in either direction.
During consolidation, the market often reflects indecision, as traders wait for clearer signals before taking action.
The Crypto All-Stars Presale Nears $700k – Best Meme Coin To Buy Now?
Meanwhile, as the bulls anticipate a possible rally for the Harambe price, The Crypto All Stars (STARS) ICO is storming towards $700k in early funding.
Popular YouTuber Crypto Zeus has reviewed the project, saying it has ”big potential” and highlights its unique staking system, which is drawing significant interest from investors.
Crypto All-Stars is positioning itself as a key player in the evolving crypto landscape by establishing a centralised hub for meme coin staking.
Central to Crypto All-Stars’ innovation is the MemeVault, a revolutionary platform designed to streamline staking for all major meme coin projects into one intuitive ecosystem.
As more investors stake their meme coins in the MemeVault, the value and utility of $STARS tokens will continue to grow substantially.
New Crypto All Stars Meme Coin with 5000% APY Premarket Launched!! Tutor… https://t.co/4qpMwEyihL via @YouTube #presale #crypto #presalealert #memes #memecoins #memecoin #pepe #doge #dogecoin #PEPEUNCHAINED #purpe #solana #shiba #shibashootout #Bitcoin #fatty #cryptoallstars pic.twitter.com/i4gmuWQ55D
— Alessandro De Crypto (@A_D_Crypto) August 14, 2024
This unified platform currently supports some of the most popular tokens in the industry, including Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, and more.
This innovative strategy streamlines the staking process for users and fosters a mutually beneficial relationship between $STARS and these meme coins.
$STARS staking is already underway during the presale, offering an impressive 2,493% annual percentage yield (APY). Over 295 million $STARS tokens have been staked so far.
Investors interested in participating can buy STARS on the official website for $0.0014022.
With a price increase in less than 3 days, buy now to lock in the best deal.
Purchase $STARS here using BNB, USDT, or a bank card.
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