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The Thena price plunged 19% in the last 24 hours to trade at $2.98 as of 6:55 a.m. EST.
The correction in the THE price in the last 24 hours comes after the crypto set a new all-time high at $4.10 on Nov. 27 after surging more than 1,400% in a week.
Thena Price Consolidates
4-hour chart for THE/USD (Source: GeckoTerminal)
The Thena price entered into a consolidation phase between $2.8158 and $3.8898 in the last 24 hours, according to GeckoTerminal. This period of sideways trading might be the precursor to a major move heading into the weekend.
If THE starts to rally, it could attempt to flip the resistance level at $3.8898 into support. Clearing this technical obstacle might give the crypto a solid foundation to rise off from in the following 24 hours. Traders could then try to push the Thena price up to the subsequent resistance at $4.8590.
A more bearish scenario could play out if the Thena price falls below the $2.8158 support. Breaking down below this mark might expose the crypto to the risk of falling down to the next safety net at $2.0299.
Technicals Suggest Bulls Might Retake Control Of The Thena Price
From a technical standpoint, indicators on THE’s hourly chart suggest the crypto’s recent bearish momentum might be cooling down. More specifically, the Moving Average Convergence Divergence (MACD) and the Bollinger Bands point to a potential increase in the Thena price in the coming 24 hours.
In recent hours, the MACD line has started to rise toward the MACD Signal line. Traders might interpret the shrinking gap between these two lines as an early indication that Thena’s momentum might soon turn bullish. A confirmation of this could be when the MACD line crosses above the MACD Signal line.
Meanwhile, the Thena price is currently resting on the lower band of the Bollinger Bands indicator, which is often seen as a buy signal. Traders might also be gearing up for a strong move as the gap between the upper and lower bands shrinks. The Thena price’s positioning on the lower band and the shrinking gap between the two bands suggest THE might rally soon.
While traders wait to see what the Thena price will do next, experts say a new cat-themed meme coin by the name of Catslap (SLAP) might be the best crypto to buy now.
Could This New Cat-Themed Token Overtake POPCAT?
Catslap Token is a new meme coin project looking to establish itself in the cat-themed crypto market. Although this sector is currently led by Popcat (POPCAT), Catslap is on track to dethrone the Solana meme coin if its current trajectory continues.
After launching just over a week ago, Catslap already boasts over 8.1K holders. Additionally, the crypto already has a market capitalization greater than $23 million. This is a rarity for new projects in the burgeoning crypto space.
Keeping up this momentum could prove to be a tough task, but with everything Catslap has lined up, the project could easily soar to new heights. Most notably is the project’s viral slapping game, which has recorded 14.9 million slaps worldwide.
This shows that people from all around the world are already actively engaging with the project through its game.
What’s more, Catslap’s team recently announced that they will be adding a play-to-earn element to their viral game. This earning capability could ignite a frenzy around the new meme coin, which is why many investors are already speculating that Catslap could become the next Hamster Kombat.
Experts believe Catslap has everything needed to continue its impressive performance. Popular YouTuber ClayBro, who has over 131K subscribers, predicted that SLAP could be the next meme coin to surge 50X.
Investors Rush To Buy SLAP Before The Team’s “Major Announcement”
Catslap’s team has revealed that a “major” announcement will be made in less than 6 days. Given the magnitude of the project’s latest developments, it’s likely that this announcement will be something big.
One possibility is a CEX listing as the rumor mill is abuzz with talk of a possible listing on Coinbase or Binance.
Investors can acquire the token ahead of this announcement using the buy widget embedded on the project’s website. Selling currently for $0.00283417, SLAP can be bought with either ETH, USDT or bank card.
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