{"id":609957,"date":"2024-12-13T09:35:42","date_gmt":"2024-12-13T09:35:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=609957"},"modified":"2024-12-13T13:03:43","modified_gmt":"2024-12-13T13:03:43","slug":"lingo-price-prediction-lingo-plunged-10-after-launch-as-analysts-say-consider-this-ico-with-439-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/lingo-price-prediction-lingo-plunged-10-after-launch-as-analysts-say-consider-this-ico-with-439-staking-apy","title":{"rendered":"Lingo Price Prediction: LINGO Plunges 10% After Launch As Analysts Say Consider This ICO With A 439% Staking APY"},"content":{"rendered":"

The Lingo price plunged 10% in the last 24 hours to trade at $0.3826 as of 2:18 a.m. EST on trading volume that skyrocketed 196% to $41.3 million.<\/span><\/p>\n

That’s after the token launched on Dec. 12 and went on to be listed on Kucoin, with trading kicking off at 15:00 UTC.<\/span><\/p>\n

Lingo Price Could Still Surge<\/h2>\n

The Lingo\/USD 15-minute chart shows a sharp initial price surge followed by a correction, resulting in a consolidation phase.<\/span><\/p>\n

The price of Lingo<\/span><\/a> is currently trading at $0.3826 within a well-defined ascending triangle pattern characterized by rising support and horizontal resistance around $0.4000, according to data from <\/span>GeckoTerminal<\/span><\/a>. Ascending triangles are typically bullish continuation patterns, suggesting the potential for a breakout to the upside if resistance is breached.<\/span><\/p>\n

The 50 Simple Moving Average (SMA) on the 15-minute chart is currently at $0.3576, serving as dynamic support for the price. The price staying above this level further supports the bullish outlook in the short term.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is at 56.67, leaning toward bullish momentum but still in neutral territory. This indicates that the asset has room for further upward movement without being overbought. However, a break above 70 on the RSI would suggest the possibility of increased buying pressure.<\/span><\/p>\n

The Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the MACD line (blue) above the signal line (orange) and both in positive territory. This suggests that bullish momentum is building, but the relatively small gap between the lines indicates that momentum is moderate for now.<\/span><\/p>\n

\"Lingo
LINGOUSD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

Lingo Price Prediction<\/h2>\n

Given the current technical setup, a bullish breakout above $0.4000 appears more likely, supported by the ascending triangle pattern, the position above the 50, and the MACD’s bullish crossover. If the breakout materializes, the price could target levels around $0.5062 or higher, based on the measured move theory, which predicts a move equal to the height of the triangle.<\/span><\/p>\n

However, if the price fails to break above the $0.4000 resistance, it could retest the support at $0.3576 (50 SMA). A breakdown below this level may invalidate the bullish setup, leading to a potential revisit of the $0.3000 mark.<\/span><\/p>\n

As the Lingo price bulls look for more buying positions, some investors are turning to presale meme coins like the newly launched <\/span>Flockerz (FLOCK)<\/span><\/a> for more explosive upside potential and a sky-high annual yield of 439%.<\/span><\/p>\n

According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.<\/span><\/p>\n