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The RedStone price has soared 38% in the last 24 hours to trade at $0.5829 as of 3:45 a.m. EST on a 285% pump in trading volume to $182 million.
The surge in the RED price follows the announcement that RedStone has secured an EIGEN grant from the Eigen Foundation to enhance staking rewards. With the steep rise, the crypto’s market cap has hit $173 million.
EIGEN incentives are LIVE
RedStone has received an $EIGEN grant from @eigenfoundation to supercharge staking incentives.
EIGEN tokens will be periodically released to stakers in RedStone's EigenLayer AVS, rewards are accumulating already.
Snapshot and claims coming soon 👀 pic.twitter.com/t5hmOTwZG0
— RedStone Oracles ♦️ (@redstone_defi) March 12, 2025
RedStone Price Gears For Another Bullish Rally
The RED/USDT 4-hour chart shows a clear shift in price action, with early signs of a potential trend reversal. Currently, the price sits at $0.5883, marking a 5.89% decline from the opening price of $0.6236. The highest price during this session reached $0.6340, while the lowest point touched $0.5736.
The descending channel (falling wedge) breakout is highlighted in orange, indicating a trend reversal when the price successfully breaks above the upper resistance. In this case, the price had been moving downward within the wedge, but strong support near $0.40 – $0.50 helped buyers regain control.
The breakout suggests that sellers are losing momentum, and buyers are stepping in to drive the price higher. If the breakout sustains, the price could push toward $0.70 – $0.75, with a more extended target around $0.90, a level that previously acted as resistance.
REDUSDT Analysis Source: Tradingview
RedStone Price Gains Bullish Momentum But Faces Key Resistance Levels
The Relative Strength Index (RSI) stands at 56.06, signaling increasing bullish momentum from the oversold region, confirming that buying pressure is increasing. However, it remains below the 70 overbought threshold, meaning there is still room for further price appreciation before a potential pullback. A healthy uptrend would see the RSI rise while staying above the neutral 50 level.
Despite the bullish signals, if the price fails to hold above $0.50, it could invalidate the breakout and lead to a retest of the $0.40 support level. Additionally, a lack of strong buying volume could result in a false breakout, where the price reverses downward instead of continuing higher.
The breakout from the falling wedge is a positive sign, but sustained upward movement is needed for confirmation. Resistance at $0.75 and $0.90 may serve as potential profit-taking zones, while a stop-loss near $0.50 can help manage downside risks. If buyers maintain control and push prices higher, RED/USDT could enter a new bullish phase, potentially leading to higher highs in the coming sessions.
Meme Index Presale Crashes Past $4 Million – Last Chance To Buy
Even as the RedStone price prepares to break past its resistance level, many investors are now turning their focus to a new meme coin called Meme Index (MEMEX), which has already raised over $4 million in its presale.
As the first-ever meme coin index, MEMEX is designed to help users diversify their meme coin investments. The project has announced that its presale will officially end on March 31, giving investors a final chance to buy in before its highly anticipated launch.
Memex Token Presale — Miss It, Wait a Year! 🚨
Memex: Invest with Humor, Disrupt the Financial World! 😂💰
Memex Token ($MEMEX) isn’t just a meme coin; it’s your secret weapon to join the global meme community and challenge Wall Street elites 💥. We use humor to disrupt… pic.twitter.com/G9SgGW3YYd
— $MEMEX (@MEMEconsensus) February 13, 2025
The project offers four unique investment baskets: the Meme Titan Index, which focuses on relatively stable meme coins; the Meme Moonshot Index, which includes a mix of promising projects; the Meme Midcap Index, which targets mid-tier meme coins; and the Meme Frenzy Index, which caters to high-risk, high-reward tokens. With options for every risk appetite, the Meme Index is quickly gaining traction among investors.
Adding to the excitement, the popular YouTube channel 99Bitcoins, which has over 726k subscribers, predicts that MEMEX could soar 100x after launch.
Secure Your MEMEX Now! Only 18 Days Left
Investors are also drawn to its presale staking pool, which currently offers an impressive 571% APY, making it one of the most attractive opportunities in the meme coin space.
Right now, MEMEX tokens are available for just $0.0166883, and investors have only 18 days left to participate before the presale ends.
To buy, connect a wallet like Best Wallet and make a purchase using USDT, ETH, BNB, or even a bank card.
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