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The MAD price surged 32% in a week and 9% in the last 24 hours to trade at $0.00001316 as of 02:17 a.m. EST on trading volume that plunged 24% to $2 billion.
MAD Price On A Bearish Trend – A Possible Reversal?
The MAD price action shows a slight downward trend in the longer term, but in the near term, the asset appears to be moving sideways with possible consolidation after a brief spike. The chart shows a possible descending wedge, which can often be a bullish reversal pattern, according to data from GeckoTerminal.
MAD now trades below the 50-day Simple Moving Average (SMA), which indicates that the asset is currently on a short-term downtrend. However, the price of MAD still trades above the 200-day SMA, which suggests that the asset may still soar above.
The current Relative Strength Index (RSI) value is 47.84, which is in the neutral zone (between 30 and 70). This indicates neither overbought or oversold conditions. The RSI is showing a slight uptick, suggesting that the bearish momentum may be weakening, but it’s not a strong buy signal yet.
If the bears continue using the falling channel pattern, the price of MAD could drop even further, with the next possible support at $0.000010.
Conversely, a bullish move could follow if the price can break above the descending wedge pattern and the 50-period MA with increased volume. In such a scenario, the price of MAD could soar to the $0.000018 resistance.
Another project that’s rising fast is the new meme coin Crypto All-Stars (STARS), which has already blasted past the $1.9 million mark in its blockbuster presale.
That’s a key reason why crypto YouTuber Jacob Bury, who has over 42K subscribers, believes that $STARS has the potential to increase 10X following its launch.
Crypto All-Stars Closes On $2 Million – Best Meme Coin To Buy Now?
Crypto All-Stars has raised over $1.9 million in about two months of its ICO, a notable feat in today’s tepid market.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
Crypto All-Stars comes with an industry-first capability because it allows top meme coins like Dogecoin ($DOGE) and Pepe ($PEPE) to be staked together, enabling their holders to earn a singular reward, $STARS, through the MemeVault protocol.
Other meme coins that can be staked on Crypto All-Stars are Shiba Inu, Floki, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
You can also earn passively through the project’s native staking mechanism, which offers a huge 766% annual percentage yield (APY).
You can buy the token now for $0.0014769. With the price set to increase in about 1 day, act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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