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The Rosa Inu price has plunged 9% in the last 24 hours to trade at $0.003361 as of 3:20 a.m. EST on a 5% drop in trading volume to $77k.
Rosa Inu Price 4-Hour Chart Analysis: Downtrend Persists with Key Support At $0.00325
The ROSA/USDT pair on the 4-hour timeframe displays a clear downtrend indicated by lower highs and lower lows within a descending parallel channel.
The price is currently trading within this channel, defined by a resistance level around $0.00412 and a support zone near $0.00325.
This support zone has recently been tested multiple times, highlighting it as a critical level for buyers to defend.
ROSAUSDT Analysis Source: Tradingview
A sustained break below this zone could lead to further declines, potentially pushing the price toward the next lower support level around $0.00300 or even lower.
The 50-period Simple Moving Average (SMA) at $0.00386 and the 200-period SMA at $0.00429 are sloping downward, underscoring the prevailing bearish momentum.
The price remains below these moving averages, indicating that sellers are still in control. The 50 SMA is currently acting as dynamic resistance, reinforcing the upper boundary of the descending channel, and any bullish attempt is likely to face selling pressure at these levels.
The Relative Strength Index (RSI) is currently at 37.12, approaching the oversold territory, at 30. This indicates that while the market is bearish, it might be nearing a point where selling pressure could start to ease.
However, without a clear bullish divergence or an oversold signal, the RSI alone is insufficient to suggest an immediate reversal.
Rosa Inu Price Indicates Indecision
Price action for ROSA shows a series of small candlesticks with longer wicks near the current support zone, indicating indecision and a possible accumulation phase.
If the price manages to hold above the $0.00325 support and breaks above the 50 SMA, it could lead to a short-term recovery towards the upper channel boundary near $0.00400.
On the other hand, a break below $0.00325 would signal a further bearish continuation, targeting lower price levels.
Pepe Unchained Zooms Towards $12 Million – Next 100X Meme Coin?
Meanwhile, Rosa Inu traders seeking to diversify their portfolios with high potential alternatives might consider the Layer-2 meme coin Pepe Unchained ($PEPU).
This newly launched Layer-2 meme coin has rocketed towards $12 million in funds raised, making it one of the most successful presales of the year.
According to an analyst from 99Bitcoins, a prominent crypto YouTube channel with over 706K subscribers, PEPU has 100x potential and is one of the best cryptos to buy now.
Pepe Unchained is more than just a Pepe-themed coin. It leverages the meme coin trend while introducing innovative technologies that appeal to crypto enthusiasts looking to enhance their profits.
While $PEPU embraces the meme coin vibe, it distinguishes itself by integrating Layer-2 (L2) technology to address the challenges of Layer-1 solutions.
One of the key advantages of $PEPU is its seamless integration with Ethereum, which supports smooth transfers and compatibility with decentralized applications (dApps).
We’ve just hit $11.5M!
Pepe Unchained keeps breaking records, and we’re not slowing down. Thanks to everyone for pushing us to new heights—exciting things are on the horizon! 🐸🚀 pic.twitter.com/LPEjLcrHF3
— Pepe Unchained (@pepe_unchained) September 2, 2024
Moreover, it offers low transaction fees, making it accessible to a wider audience, and enhanced scalability, enabling faster trades and a platform capable of managing higher transaction volumes without congestion.
Additionally, Pepe Unchained’s double staking mechanism enhances rewards for PEPU investors by cutting operational costs and improving efficiency.
The project currently provides rewards of $608.82 per ETH block, with an estimated annual percentage yield (APY) of 171%.
Interested investors can buy PEPU tokens for $0.0094982. Buy before a price hike in a little more than a day to secure the best deal.
Buy PEPU tokens here using ETH, USDT, or a bank card.
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