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The LOFI price has surged over 24% in the last 24 hours to trade at $0.03 as of 6:06 a.m. EST as investors rush to buy the crypto.
The pump made the altcoin the top 24-hour performer among meme coins, according to CoinMarketCap.
LOFI Price Trying To Break Above Resistance
4-hour chart for LOFI/USD (Source: GeckoTerminal)
The LOFI price has been in a positive sequence over the past 48 hours, printing a series of higher lows during the period, GeckoTerminal data shows. Now, the crypto is attempting to overcome the resistance level at $0.03054. Clearing this obstacle in the next 8 hours could clear the room needed for LOFI to rise to the subsequent barrier at $0.03351.
On the other hand, a rejection from the $0.03054 resistance could mark the end of the altcoin’s bullish move. In this more bearish scenario, the LOFI price might end up testing the closest support at $0.02772. Falling below this mark could then be followed by a plunge to $0.02428.
Technicals Suggest The LOFI Price Might Keep Climbing
From a technical point of view, indicators on LOFI’s 4-hour chart are still leaning bullish. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the LOFI price might continue to rise in the next few hours.
The MACD line started to collapse towards the MACD Signal line in the last few hours, which warned that LOFI’s bullish momentum was cooling down. However, buyers seem to have reentered the crypto’s order books recently, causing the gap between the two lines to grow again.
LOFI’s 4-hour RSI displayed similar behaviour to the MACD, with RSI readings suffering a brief correction to indicate a drop in buyer strength. However, the RSI is currently positively sloped, which signals that buyers are once again accumulating strength against sellers. Additionally, the current reading below 70 suggests that LOFI still has room to rise before it’s overbought.
While LOFI tries to keep its bullish move going, investors are piling into a new meme coin called BTC Bull Token (BTCBULL) after US President Donald Trump signed an executive order to set up a Strategic Bitcoin Reserve.
According to YouTuber Alessandro De Crypto, who has over 14.7K subscribers, the meme coin has the potential to print massive gains for investors.
A Meme Coin Offering Investors Free BTC – Best Bitcoin Play After Trump’s Order?
BTC Bull Token is a Bitcoin-inspired meme coin that aims to support the largest crypto by market cap on its journey to $1 million per coin and beyond. As BTC climbs to new heights, the project plans to reward its token holders with Bitcoin airdrops and BTCBULL token burns at certain price milestones.
According to the project’s website, token burns will be triggered when BTC hits $125K, $175K and $225K. Meanwhile, investors will receive free Bitcoin when the crypto king reaches $150K, and again for every $50k increase in the price after that.
With Trump’s new executive order, one of the biggest economies in the world is going to form a Bitcoin reserve.
While the reserve will be funded by seized BTC, Trump’s AI and crypto czar David Sacks says that the government is looking into budget-neutral strategies that will allow them to acquire even more Bitcoin.
Other countries could also follow the US in incorporating BTC into their reserves. This domino effect might then introduce unstoppable buy side pressure on BTC’s charts.
With the above in mind, the next price target of $125K, which will trigger a BTCBULL token burn, seems to be within reach.
BTCBULL Presale Charges Toward $4 Million
BTC Bull Token is pulling investors in through its ongoing presale, which has raised over $3.3 million so far.
This buying frenzy is likely to continue given the attractive staking opportunity on offer to early-stage investors.
Anyone who stakes BTCBULL tokens during its presale stage will unlock access to a huge 129% annual return.
Interested investors can purchase BTCBULL for $0.0024 per token from the buy widget on its website using either crypto or bank card.
Buy before a price hike in less than 3 days to lock in the best deal.
Visit the BTC Bull Token website.
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