{"id":615900,"date":"2025-01-06T11:24:32","date_gmt":"2025-01-06T11:24:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=615900"},"modified":"2025-01-06T14:35:55","modified_gmt":"2025-01-06T14:35:55","slug":"phoenix-price-prediction-phnix-is-no-1-trending-crypto-on-coingecko-as-the-xrp-mascot-pumps-13-while-this-new-ico-goes-parabolic","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/phoenix-price-prediction-phnix-is-no-1-trending-crypto-on-coingecko-as-the-xrp-mascot-pumps-13-while-this-new-ico-goes-parabolic","title":{"rendered":"Phoenix Price Prediction: PHNIX Is No. 1 Trending Crypto On CoinGecko As The XRP Mascot Pumps 13%, While This New ICO Goes Parabolic"},"content":{"rendered":"

The Phoenix price surged 13% in the past 24 hours to trade at $0.00008105 as of 02:38 a.m. EST on trading volume that surged 23% to $561K.<\/span><\/p>\n

The pump helped PHNIX become the No. 1 <\/span>trending crypto on<\/span> CoinGecko<\/a>. Phoenix is built on the Ripple blockchain and calls itself XRP’s ”iconic mascot.” <\/span><\/p>\n

Phoenix Price Gears Up For A Price Recovery<\/h2>\n

The <\/span>PHNIX price<\/span><\/a> on the 4-hour chart exhibits an overall bullish trend, with a strong rally beginning in mid-December 2024 and pushing the price to a peak above $0.0001400.<\/span><\/p>\n

Following this sharp rise, the price of Phoenix entered a falling channel pattern, a common consolidation pattern seen after aggressive rallies.<\/span><\/p>\n

Recently, the Phoenix price broke out of the descending channel to the upside, reclaiming the 50-day Simple Moving Average SMA at $0.00009021 as support. This breakout suggests that the consolidation phase may be over, and the prior bullish momentum could resume.<\/span><\/p>\n

Notably, the 200-day SMA sits much lower at $0.00004377, reinforcing that the long-term trend remains decisively bullish despite the recent pullback.<\/span><\/p>\n

The Relative Strength Index (RSI) currently reads 50.38, indicating a neutral zone. This suggests that neither bulls nor bears hold a dominant position at this moment. <\/span><\/p>\n

However, the RSI has moved up from oversold conditions (below 30) during the descending channel, which is a positive sign. A continued upward movement in RSI could confirm a resurgence in bullish momentum.<\/span><\/p>\n

\"Phoenix
PHNIX\/USD Chart analysis Source: DexScreener<\/figcaption><\/figure>\n

PHNIX Price Prediction: What Next For This XRP Coin<\/h2>\n

With the descending channel breakout, PHNIX appears poised for further upside. The immediate resistance level to watch is $0.0001000, which is a psychological barrier and coincides with previous horizontal resistance.<\/span><\/p>\n

If the Phoenix price clears this level, the next target is $0.0001200, aligning with previous highs within the descending channel. A more ambitious target lies at $0.0001400, the recent swing high.<\/span><\/p>\n

On the downside, the next key support would be at 0.0000700, where buyers previously stepped in. Further bearish pressure could push the price of PHNIX to the 200-day SMA around $0.00004377. <\/span><\/p>\n

Meanwhile, investors are also buying a new Solana meme coin called <\/span>Solaxy (SOLX)<\/span><\/a>. According to 99Bitcoins, a popular crypto YouTube channel with over 719K subscribers, Solaxy has the potential to soar 100X post-launch.<\/span><\/p>\n