The Solympics price has plunged 30% in the last 24 hours to trade at $0.001542 as of 7:10 p.m. EST on a 34% slump in trading volume to $1.92 million.
Solympics Price Analysis: Can The Bulls Regain Momentum?
The Solympics has been on a downtrend since hitting the resistance point at the $0.003664 level, allowing the bears to apply downward pressure on the price.
According to data from GeckoTerminal, the price has hit rock bottom within the bearish pennant as the bulls indicated a rebound on the 0.001360 support zone, limiting the bulls’ further profiting. But can the Bulls complete the rebound circle and regain momentum?
SOLYMPICS/SOL Analysis ( Source: Dextools.io)
Despite the dip, the SOLYMPICS price shows signs of accumulation within the channel, indicating that bullish investors are gearing up to push the price to reclaim the previous high and potentially achieve new highs.
If the bulls maintain their momentum, they will build a solid technical base, potentially triggering a bull rally above the channel.
The price faces resistance below the 50 and 200 simple moving averages. A little push could help the Bulls cross above the averages and finally regain momentum.
The recent MACD blue line crossing above the orange signal line, while still below the neutral position, is seen as bullish, signalling a potential reversal to an upward trend. The green histogram bars further suggest strong buying pressure for the Solympics price.
The Relative Strength Index remains bullish above the 30 oversold level, lingering near the 50 midline level. Its upward momentum indicates a favourable condition to enter the overbought territory, supporting a positive sentiment for the Solympics price.
Solympics Price Prediction
The bullish rebound shows the bulls’ resilience in driving the price back up again. If the momentum sustains, it could suggest a potential upward drive helping the bulls reclaim the previous high at $0.003388, with optimism that the all-time high of around $0.004225 will be reached.
Conversely, if bearish pressure increases it could push the trend below the support zone to the channel’s lower trendline at $0.001364.
The Meme Games Presale Blasts Past $277k: Best Crypto to Buy Now?
Meanwhile, investors looking for a Solympics-type token with a better current trajectory might want to consider a new presale called The Meme Games (MGMES), which has raised over $277K in just 10 days since its launch.
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Inspired by the 2024 Paris Olympic Games that got underway yesterday, this project mixes the excitement of crypto meme coins with the thrill of athletic competition.
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