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The Myro price exploded more than 127% over the last 7 days to trade at $0.07166 as of 9:15 am EST.
The Myro Price Is Getting Ready For A Strong Move
4-hour chart for MYRO/USDT (Source: TradingView)
A symmetrical triangle has formed on MYRO’s 4-hour chart, which suggests that the Myro price may break out soon. This is after the cryptocurrency recorded a series of higher lows and lower highs over the past 3 days.
Should this pattern lead to a strong bullish move, MYRO may attempt to break above the resistance level at $0.09425. This bullish thesis may be invalidated, however, if the Myro price falls below the immediate support level at $0.06250 in the next 48 hours.
Continued sell pressure once the altcoin falls below this point could drag the altcoin’s value down to $0.04595 in the short term. In an extremely bearish scenario, the Myro price could plummet to as low as $0.03395.
Technicals Point To A Pullback For The Myro Price
Traders and investors will want to note that technical indicators suggested a bearish scenario is more likely to play out soon. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators hinted at a potential price correction.
The MACD line was breaking away below the MACD Signal line, which is generally a sign that a cryptocurrency’s negative trend will continue in the short term. Given that this technical flag is presented on the 4-hour chart, the Myro price could fall in the next 4-12 hours before a potential move up, if sell pressure does not persist.
Sellers also had the majority of strength on MYRO’s 4-hour chart as indicated by the RSI indicator. Not only was the RSI positioned below its Simple Moving Average (SMA), the RSI was breaking away below the SMA line as well. This suggests that sellers are growing stronger.
If these technical flags are validated, the Myro price may fall out of the symmetrical triangle that has formed on its 4-hour chart. It could then be at risk of further downside, to potentially reach the $0.03395 support level within the following few days.
While the Myro price looks set to undergo a correction soon, Sponge V2 shows promising signs of becoming the next 100x crypto in the meme coin space.
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In addition to the potential to achieve 100x returns, Sponge V2 investors will also have access to a staking program that offers a minimum APY (annual percentage yield) of 40%. These staking rewards will be paid out in Sponge V2 tokens.
Investors looking to purchase Sponge V2 will need to purchase and stake Sponge V1 on the project’s website. Investors who already own Sponge V1 will just need to stake their tokens.
Visit and buy Sponge V2 here.
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