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The Myro price surged more than 57% in the past week following an over 5% 24-hour gain to trade at $0.2786 as of 6:05 a.m. EST as investors go long on the meme coin.
MYRO’s increase in price over the past 24 hours has also pushed its monthly performance deeper into the green zone. As a result, the Myro price is up more than 85% over the past month as well.
The Myro Price Managed To Break Resistance
4-hour chart for MYRO/USD (Source: GeckoTerminal)
The Myro price has printed a series of higher highs and higher lows over the past couple of days, resulting in the formation of a short-term ascending channel.
Throughout the past day of trading, the crypto was also able to overcome the resistance level at $0.2684. Should MYRO maintain a position above this threshold, it might have the technical foundation needed to rise in the following few days.
Traders could then look to enter into a long position for the crypto, which might lead to the Myro price rising to as high as $0.2985 in the short term. This bullish scenario could be invalidated if the meme coin drops below the aforementioned $0.2684 mark within the coming 12 hours.
In this alternative scenario, the Myro price might be at risk of correcting down to the support level at $0.2355. Continued sell pressure if the Myro price falls to this point could then expose it to the risk of dropping to $0.2040.
Technicals Warn Of A Potential Correction For The Myro Price
Technical indicators on MYRO’s 4-hour chart suggest the meme coin’s bullish momentum is starting to cool off. More specifically, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators warn that buyers might be exiting MYRO’s charts.
The MACD line is positioned above the MACD Signal line. Traders usually identify this as a sign that a crypto is in a positive trend.
However, the narrowing gap between the two technical indicators could signal that MYRO’s positive cycle is approaching its end. Should the MACD cross below the MACD Signal line, it might indicate that the meme coin has entered into a negative cycle. The Myro price could subsequently fall.
Buyers also seem to have the upper hand against sellers, as signaled by the RSI. Currently, the RSI value is above 50, which is seen as an indication of buyer strength.
Traders might identify the high RSI value as a sell signal since MYRO’s short-term downside potential is greater than its upside potential. Any drop in the RSI value in the coming 8 hours could be an early sign of a potential reversal of MYRO’s bullish trend.
In addition to the decrease in strength indicated by the MACD and RSI indicators, the Myro price is also trading near the upper barrier of the price channel that has emerged on its charts.
During the past 48 hours, MYRO has been unable to close a 4-hour candle above this threshold. As such, the crypto stands the risk of being rejected by the boundary again in the short term.
With a potential correction looming for MYRO, traders and investors are turning their attention to WienerAI (WAI) for parabolic gains.
A Powerful Crypto Trading Companion
WienerAI is not just another canine-themed meme coin looking to make a splash in the crypto market. At the heart of the project lies powerful AI technology that is fine-tuned to trade the crypto markets.
Designed to maximize returns for crypto traders, WienerAI serves as a loyal companion that can help investors and traders make more informed decisions.
This trading companion is not the only tool available to WAI token holders. There is a seamless token swap solution called Sausage Swap included within the project’s ecosystem as well.
WAI investors will also never be front run by a MEV bot again thanks to the MEV protection WienerAI offers. All of these features come with no fees, making it extremely easy for investors and traders to utilize the products offered by WienerAI.
Given all of these features, it is no wonder an analyst from the 99Bitcoins YouTube channel speculated that WienerAI could be a 100X opportunity.
Investors Rush To Scoop Up WAI
Investors have sent more than $3 million to WAI’s ICO, and continue to buy into the new AI meme coin. The primary reason for this investor frenzy could be the lucrative staking opportunity available to presale investors.
3 Million raised!
As holder count grows, so does the anticipation for launch and the AI trading bot release!!
🤖🌭🤖🌭🤖🌭🤖🌭🤖🌭🤖🌭🤖🌭🤖🌭🤖🌭🤖🌭 pic.twitter.com/Y19TEbKwjc
— WienerAI (@WienerDogAI) May 26, 2024
Anyone who buys WienerAI at this early stage can lock up their tokens for up to 328% in annual rewards. To get in on this opportunity, investors can navigate to the project’s official website.
Once there, WAI can be bought using the simple buy widget embedded on the website’s home page. Selling for $0.000711, WAI can be purchased using either ETH, USDT, BNB or bank card.
Investors will want to hurry, because the crypto’s price is set to increase in the subsequent phases of its presale.
Purchase and stake WAI here for up to 328% in annual rewards.
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