Join Our Telegram channel to stay up to date on breaking news coverage
The Bounce Token price plunged 16% in the last 24 hours to trade at $20.51 as of 04:03 a.m. EST, with trading volume dropping 52% to $670 million.
The significant drop follows an announcement that the Bounce team was locking 1.55 million AUCTION tokens worth about $37.7 million into Team Finance.
These locked assets represent 23.5% of the circulating supply, and the tokens will be released on September 1.
The lock didn’t prevent AUCTION from continuing its downtrend.
Bounce Token Price On A Price Retracement
The daily chart of the AUCTION price reveals a significant price movement over the past few months.
A parabolic curve pattern formed, leading to a steep upward price surge. This pattern mainly indicates a strong bullish phase driven by aggressive buying. The Bounce Token price spiked from around $7.01 (the recent low) to a high of $68.31, representing nearly a 900% increase within a short period.
However, this rally was met with a sharp correction, and the Bounce Token price has now retraced to $20.51. Such a steep drop suggests profit-taking and possible exhaustion of bullish momentum.
AUCTION still trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which indicates that the asset may still rebound. Furthermore, the 50-day SMA crossed above the 200-day SMA, forming a golden cross around $15.40, confirming the bullish trajectory.
The Relative Strength Index (RSI) is currently at 45.08, suggesting a neutral stance after coming down from overbought levels. Prior to the correction, RSI was well above 80, which indicated extreme overbought conditions, leading to the current pullback.
AUCTION/USDT Chart Analysis (Tradingview)
AUCTION Price Prediction
With the Bounce Token price recently correcting from $68.31 to $20.51, AUCTION is currently at a critical support zone near $20. If the price of AUCTION holds above this level and consolidates, a rebound toward $30-$35, supported by buyers stepping in, could occur.
However, if selling pressure continues and the Bounce Token price falls below $17.83 (50-day SMA), it could further decline toward the $15-$16 region (200-day SMA).
In the meantime, investors are flocking to buy Best Wallet (BEST), which popular YouTuber ClayBro, with over 136K subscribers, says has the potential to soar 10X after launch.
Best Wallet Presale Closes On $11.5 Million – Next Big Crypto?
Best Wallet has raised $11.3 million during its token presale so far.
Designed as a decentralized, non-custodial wallet, Best Wallet simplifies crypto management. It enables users to buy, sell, store, and trade more than 1,000 tokens across over 60 blockchains—all within a single, user-friendly mobile app.
One of its standout features is “Upcoming Tokens,” a screening section that helps users spot potential investments before they reach exchanges.
The Fastest Growing Wallet in Crypto!
In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀
1️⃣ Exclusive alpha on new projects.
2️⃣ Buy and claim tokens in the app.
3️⃣ Manage all your assets across multiple chains in one place.This is why the Best… pic.twitter.com/AT4yos1CmG
— Best Wallet (@BestWalletHQ) December 30, 2024
It’s establishing a strong track record after flagging to wallet holders presales that include Pepe Unchained (PEPU) and Catslap (SLAP), which delivered 500% and 3,000% gains, respectively, for early investors.
Investors can also stake BEST tokens for a huge 139% annual return.
Currently, BEST tokens are selling for $0.02445. Buy before a price hike in less than 10 hours to lock in the best deal.
Visit the Best Wallet website.
Related Articles
- Arthur Hayes Sees $110K Bitcoin As Metaplanet Buys 150 BTC
- MUBARAK Top Trends With 24% Surge
- New Cryptocurrency Releases, Listings, & Presales Today
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
