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The Snek price has soared 19% in the last 24 hours to trade at $0.001394 as of 5:12 a.m. EST, as trading volume surged 50% to $2.5 million.
The Snek Price Has Formed A Bullish Pennant
The SNEK price has formed a bullish pennant after a sharp surge emanating from the $0.00164 support level and reaching the $0.00286 resistance.
However, SNEK encountered resistance at $0.00286, allowing bears to take control, forming and driving down the price in a corrective phase.
Despite the dip, the price received support from the 50-day Simple Moving Average (SMA), remaining above the 200-day SMA and enabling the bulls to rebound. Furthermore, the golden cross at $0.00338 affirms the bullish momentum.
The Relative Strength Index (RSI) shows a downtrend from 95 in the overbought zone to 35 below the 50 midline level, indicating significant selling pressure for the SNEK price.
The Snek Price: Bulls Prepare For A Bull Rally
The presence of a bullish pennant pattern signals a bullish trend reversal as bulls prepare for an ascent above $0.00285 resistance. Sustained bullish momentum may propel prices to the $0.0045 threshold in Q1 of 2024.
However, if the downward trend sustains, it could slip below the 50-day SMA, giving the bears the right to drive the price to the $0.000761 support level.
As SNEK prepares to move to higher levels, investors seeking alternative coins for lucrative returns may consider the latest AI web3 platform, Launchpad XYZ, which is launching soon and offering 10X potential returns on investment.
Launchpad XYZ Raises $2.48 Million, Launches In 2 Weeks, Last Chance To Buy
You now have about 13 days to acquire Launchpad XYZ. Investors are scrambling to bag LPX tokens at a discounted price of $0.0445 each.
🚀 Only 13 days left until our #Presale ends!
Don't miss out on this opportunity to be part of the future of crypto trading.
Visit our website to get started! 💫#LaunchpadXYZ #AltsSeason #Web3 #Crypto pic.twitter.com/4TtgEyMa89
— Launchpad.xyz (@launchpadlpx) January 11, 2024
Following the launch, you will be able to claim your LPX tokens in the subsequent week, with immediate listings on decentralized exchanges (DEX) to follow.
The Cryptonews channel, with over 7k subscribers, anticipates potential growth for LPX upon its exchange launch. It explains how you can buy and benefit from the platform once the token is launched on decentralized exchanges.
The Launchpad XYZ platform aims to simplify Web 3.0, while providing comprehensive analysis, insights, sentiment assessments, and data to facilitate decision-making there.
You can also explore newly released NFT mints, gain early access to exclusive presales, and enjoy discounts on products and services offered by Launchpad XYZ partners.
#LaunchpadXYZ is providing all the training required to be a successful trader. 🙏
Our mission is to empower #Web3 users of any experience level to maximise their profit potential. ⚡️#Crypto #Blockchain #Altcoins pic.twitter.com/fQpiNUxBxc
— Launchpad.xyz (@launchpadlpx) January 10, 2024
Hurry! Buy LPX Token Now, Reduced Trading Fees On DEX
The platform also offers play-to-earn games. To participate, you must hold a minimum of 10,000 LPX tokens. As a result, you can enjoy reduced trading fees on the Launchpad XYZ exchange, which is currently being developed, potentially enhancing the utility and value of LPX tokens.
🔎 On-chain analytics involves analysing blockchain data for investment insights.
Look at transaction volumes, active addresses, etc. #Crypto #Web3 #AltSeason pic.twitter.com/m6hFXl8Mb4
— Launchpad.xyz (@launchpadlpx) December 30, 2023
There is still a window of opportunity to buy Launchpad XYZ tokens now. Simply visit the official website to connect your digital wallet and swap your ETH, USDT, or BNB for LPX tokens.
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