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The Mad price plummeted over 18% in the last 24 hours to trade at $0.00003683 as of 4:10 a.m. EST as investors dump their holdings in the meme coin.
Despite the steep decline in the MAD price, the crypto’s weekly performance remains more than 16% in the green and over 339% up on the monthly time frame.
Mad Price Approaching A Key Support Level
4-hour chart for MAD/USD (Source: GeckoTerminal)
The Mad price was rejected by the $0.00004812 resistance after briefly breaking above this technical barrier in the last 24 hours, according to GeckoTerminal data. Sellers are now exerting pressure on the meme coin, which is evident by the wicks present at the top of the last few 4-hour candles.
If bulls are unable to protect MAD from this bearish pressure, the crypto could be at risk of losing the $0.00003247 support and potentially dropping to as low as $0.00002010.
On the other hand, traders identifying the current Mad price as a buy opportunity could lead to a rebound in the meme coin’s price. In this more bullish scenario, the crypto might attempt to flip the aforementioned $0.00004812 barrier into support. Establishing a position above this level could then lead to the Mad price rising to the subsequent mark at $0.00006461.
Technicals Warn The Mad Price Might Drop Some More
From a technical perspective, indicators on the meme coin’s 4-hour chart suggest a bearish scenario is more likely to play out through the course of the next trading day. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) warn that bears might push the Mad price down in the next couple of hours.
Recently, the MACD line crossed below the MACD Signal line. Traders often interpret this technical event as a sign that a crypto has entered a negative cycle. With the gap between the two lines growing, it seems MAD’s bearish momentum is picking up steam.
RSI readings have also dropped from over 75 to below 50 in the last few days. This decrease below the 50 benchmark warns that sellers have gained a slight upper hand against buyers. With the negative slope of the RSI line, bears appear to be growing stronger against their bullish counterparts as well.
As the MAD price remains at the mercy of sellers, investors are FOMO buying meme coin rival Crypto All-Stars (STARS) for parabolic gains as its successful presale nears its end.
A Single Platform For Meme Coin Lovers To Passively Grow Their Bags
Crypto All-Stars (STARS) is an innovative staking project that allows holders of several leading meme coins to grow their holdings passively on a single platform. Big name tokens including DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO are already supported on the platform, with more options scheduled to be added soon.
All meme coins staked through the Crypto All-Stars offering will generate crypto rewards paid out in the project’s native STARS token. The rewards don’t stop there, however, because STARS can also be put to work for an impressive 310% staking APY.
With its meme coin appeal and the ability for investors to stake several tokens on one platform simultaneously, it’s easy to see why popular YouTuber ClayBro, who has over 130K subscribers, believes STARS could soar 10X after its launch.
Investors Rush To Buy STARS At Pre-Market Prices Before Its ICO Ends
Crypto All-Stars has raised more than $6.4 million through its ongoing presale. With just 22 days left until the token’s ICO ends, investors are rushing to buy the meme coin at this early stage. Even crypto whales have started to scoop up STARS before it’s too late.
Investors who want to acquire the token before its presale ends can do so using the simple widget embedded on the project’s website. Selling for $0.0016319, investors can buy STARS using either ETH, USDT, BNB, FLOKI, SHIB, DOGE, PEPE or bank card. Once bought, the STARS tokens can then be put to work through the website’s staking page for the 310% APY.
Purchase and stake STARS here for the 310% APY.
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