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The Sun Token price has plummeted 16% in the last week and 2% in the last 24 hours to trade at $0.02589 as of 11:23 p.m. EST on trading volume that surged 28% to $101 million.
Sun Token Price Aiming For A Bullish Trend Reversal
After a significant drop between September and November, the price of Sun Token entered a rally, which allowed the crypto to form a rounding bottom pattern. SUN then soared from the $0.016 support to the $0.038 resistance, according to data from GeckoTerminal.
Following the breakout above the 50-day Simple Moving Average (SMA), the price peaked near $0.04, but experienced a sharp rejection, pulling back to its current level of $0.02589. The rounding pattern suggests that buyers have regained control, but the subsequent pullback indicates profit-taking or a pause in bullish momentum.
The Relative Strength Index (RSI) is currently at 51.23, indicating neutral momentum. It is neither overbought nor oversold, which suggests the market is in a consolidation phase. Previously, the RSI rose above 70 during the sharp rally, hinting at overbought conditions before the recent correction.
The Sun Token price seems to be rebounding from the $0.02215 mark, which could complete a cup and handle pattern in the short term. In this way, the bulls might soon push the price of Sun Token up towards the $0.040 resistance.
Conversely, a breach below $0.022 would invalidate the bullish setup, potentially leading to a revisit of lower levels around $0.02.
As the SUN price aims for a sustained rally, investors looking for alternatives may want to consider Crypto All-Stars (STARS), which, according to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, has the potential to soar 10X after its launch.
Crypto All-Stars Raises Over $14.8 Million In Blockbuster Presale
The Crypto All-Stars (STARS) presale has raised more than $14.8 million, making the new multi-chain meme coin staking protocol one of the biggest ICOs of the year.
The project brings the MemeVault platform into the crypto world, allowing investors to stake multiple meme coins in one place for the first time to earn rewards in STARS tokens.
What Is Crypto All-Stars?
Crypto All-Stars is set to revolutionize the meme coin sector with its innovative ‘Meme Vault’ platform. 💥
This is more than just another meme coin – it's an entirely new way to interact with the meme coin ecosystem!
— web3telepath (@web3telepath) August 15, 2024
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, Turbo Token, Toshi The Cat, Coq Inu, and Bonk can currently stake their tokens on the MemeVault. The platform plans to expand its list of stakeable meme coins in the coming months.
Traders can also stake STARS tokens for a huge 179% annual percentage yield (APY).
Currently, STARS is available for just $0.0016782. Buy before the presale ends in just 7 days.
Purchase STARS from its official website here using BNB, USDT, or a bank card.
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Newest Meme Coin ICO - Wall Street Pepe
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