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The SLUMBO price plummeted more than 29% in the last 24 hours to trade at $0.00006528 as of 12:00 a.m. EST.
With this latest drop, SLUMBO is now down over 89% on the weekly timeframe, but still up more than 25% from its all-time low of $0.00005298.
The SLUMBO Price Begins To Level Off
1-hour chart for SLUMBO/USD (Source: GeckoTerminal)
The SLUMBO price has entered a consolidation phase between $0.00000492 and $0.00026878 over the past few hours. As the crypto’s price starts to level off, this period of sideways trading might be the precursor to a strong move.
If traders identify SLUMBO’s current levels as a buy opportunity, then the altcoin could attempt to flip the $0.00026878 resistance level into support. Thereafter, it might have the technical foundation needed to continue rising in the following 24 hours. If bulls capitalize on the potential opportunity, the SLUMBO price could climb to as high as $0.00052007.
On the other hand, the bullish thesis might be invalidated if the crypto’s price drops below the $0.00000492 support. In this alternative scenario, SLUMBO could be at risk of entering a price discovery phase towards the downside. The altcoin could also end up establishing a new all-time low.
Technicals Suggest The SLUMBO Price Could Still Go Either Way
Technical indicators on SLUMBO’s 1-hour chart give no clear indication of what the crypto might do next. However, there is a slight bearish undertone present on the altcoin’s chart.
More specifically, the Relative Strength Index (RSI) has leveled off in the low 40s. Traders usually see an RSI value below 50 as a sign of bearish strength. It could also indicate that SLUMBO’s upside potential is slightly greater than its downside potential. Despite this, the RSI suggests that the altcoin is neither overbought nor oversold.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is positioned above the MACD Signal line. This is generally seen as a bullish alignment, and could suggest that the SLUMBO price is currently in a short-term positive cycle. However, the declining histogram warns that the crypto’s bullish momentum is starting to lose some steam.
Overall, the SLUMBO price has consolidated, with technical indicators not giving any clear indication of what could happen next. With the recent selloff, traders might see the stabilizing SLUMBO price as an opportunity to acquire the crypto at a discount.
While traders contemplate whether to enter into long positions for SLUMBO, investors are rushing to buy new Solana meme coin Sealana (SEAL) with its airdrop and DEX launch less than a week away.
Looking To Dominate A Sector Ruled By Dog-Themed Tokens
Sealana (SEAL) is looking to make a splash in the Solana meme coin ecosystem, which has been dominated by dog-themed cryptos such as Dogwifhat (WIF), Bonk (BONK) and Myro (MYRO).
To achieve this, Sealana is trying to maximize its appeal to meme coin investors by not coming with an elaborate roadmap or detailed whitepaper. This approach seems to have paid off so far, with the project having already raised over $6 million through its ICO.
This early success coupled with Sealana’s rapidly-growing community has excited an analyst from CryptoNews, who recently mentioned the meme coin in a video titled “TOP 3 PRESALES HAPPENING RIGHT NOW!!” In the video, he discussed the crypto’s potential to generate substantial returns for investors.
Time Is Running Out For Investors To Get In On The SEAL Airdrop
A timer has been set on Sealana’s website, and shows that there is just 6 days left until the meme coin’s highly-anticipated airdrop and subsequent DEX launch. Anyone looking to take part in the airdrop will have until 1 p.m. UTC on July 1.
The #Presale has ended! 🚨 The #Airdrop will commence on Tuesday, July 2nd at 1 PM UTC! 🕙🦭
Don't worry you can still buy $SEAL before the airdrop begins! 🚀💸 #Sealana is more excited than a fat guy at McDonalds to whale $SEAL into your wallets! 💰 More info comin’ soon! 🔥 pic.twitter.com/9Mafi9u060
— Sealana (@Sealana_Token) June 25, 2024
Tokens can still be bought at ICO prices up until the airdrop, which is scheduled to take place the next day on July 2, 1 p.m. UTC.
However, purchases made in the 24 hours after the July 1 deadline will not be eligible for the first airdrop. Instead, tokens acquired during this period will only be claimable after the first token distribution event.
With time ticking down, investors can buy SEAL using the simple buy widget embedded on its website. Selling for $0.022, the meme coin can be bought using either ETH, BNB, USDT, SOL or bank card.
Purchase SEAL here before its airdrop and DEX launch.
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