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The Sun price has surged 5% in the last 24 hours to trade at $0.03076 as of 6:30 a.m. EST, driven by a 23% increase in trading volume to $321 million.
Sun Price Goes Parabolic Above The Consolidation Zone
The Sun price chart on the daily timeframe indicates a strong bullish trend, characterized by a recent breakout and the formation of a parabolic curve. After a prolonged period of sideways movement, the price surged above key resistance levels, signaling the beginning of a potential long-term uptrend.
SUNUSD Analysis Source: Dextools.io
This breakout, occurring around the $0.0135 level, led to a rapid price increase to a high of approximately $0.0400. The steep rise also formed a parabolic curve, which is often associated with intense bullish momentum.
SUN’s price is well above the 50-day and 200-day Simple Moving Averages as well, with the 50-day SMA at $0.0135 and the 200-day SMA at $0.0131. This positioning of the Moving Averages and the golden cross (where the 50-day SMA crosses above the 200-day SMA) further confirms the bullish outlook.
Sun Price Shows Bullish Strength On Technicals
However, given that the RSI is at 70.87, indicating an overbought condition, there’s also a high likelihood of a pullback or consolidation before any upward movement. If the price fails to break above $0.0400, it could retrace to test support levels around $0.0300 or even as low as $0.0250, where buyers may step in to accumulate again.
The MACD indicator also supports the ongoing bullish trend, with the MACD line significantly above the signal line, indicating that the upward momentum could continue for the Sun price.
The expanding positive histogram bars further reinforce this view. However, the steepness of the MACD curve indicates that momentum might reach a peak soon, which could lead to a slowdown in the uptrend or even a correction.
Nevertheless, the SUN price is currently in a robust uptrend with the potential to move higher, especially if it breaks above the $0.0400 resistance level.
Traders will want to watch the RSI on the daily chart, which suggests that the crypto might be overbought. This increases the likelihood of a short-term pullback or consolidation. Managing risk is crucial in such a scenario, particularly as the market approaches these critical technical levels.
While the bullish trend remains intact, traders should prepare for potential volatility. A breakout above $0.0440 could lead to higher targets, but if resistance holds, a correction towards $0.0300 or $0.0250 could occur before the next upward move.
Last Chance To Buy DAWGZ Before Its Presale Ends
As traders rush to purchase SUN, more investors are also pouring funds into the new Base token Base Dawgz (DAWGZ), which has raised over $3.1 million in its presale that is ending in a few hours.
Popular crypto YouTuber ClayBro, who has over 130,000 subscribers, recently mentioned that DAWGZ is a token worth accumulating.
Although its primary chain is Base, DAWGZ will have a multi-chain presence. The project’s team plans on launching the token on Ethereum, Solana, Binance Smart Chain, and Avalanche as well.
Advanced protocols like Wormhole and Portal Bridge support the token’s multi-chain capabilities, enhancing the token’s interoperability, liquidity, and overall utility within the decentralized finance (DeFi) space.
Base Dawgz also features a Share-to-Earn system that rewards the community for creating and sharing content related to the project, such as memes, to earn additional DAWGZ tokens.
Today is the day that the $DAWGZ presale ends!
LFG to the moon together 🪂 pic.twitter.com/jzuQVwMeJx
— Base Dawgz (@BaseDawgz) August 28, 2024
Stake DAWGZ Now For A High APY
The project also has a “Be Social for Airdrop” campaign to reward users with points for promoting the token on various social platforms. All you have to do is use your X account to create and share memes and other content related to Base Dawgz to accumulate points. After the presale ends, users can exchange these points for DAWGZ tokens.
In addition to its multi-chain capabilities, Base Dawgz also offers a staking option with a notable 761% APY.
Investors can purchase DAWGZ tokens at a discounted price of $0.008173, with the price expected to increase once the token is listed on exchanges. Even if you haven’t bought any yet, there are still 5 hours left to acquire the meme coin before the presale ends.
Buy DAWGZ tokens here using ETH, USDT, BUSD, or USDC.
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