GOAT price surged approximately 17% after OKEx announced the listing of the GOAT/USDT spot pair on Dec. 12. This development contributes to the token’s ongoing recovery after a recent sharp correction, fueling optimism for further gains.
Key indicators such as the Average Directional Index (ADX) and Relative Strength Index (RSI) point to strengthening momentum, with bullish activity starting to form. The next few days will be crucial in determining whether the listing will propel GOAT past resistance levels and seek prices above $1.
GOAT listing announcement could spark further surge
GOAT price rose around 17% after OKX tweeted that it would list its USDT spot pair on December 12th. Memecoin, which was already recovering from a recent correction, could see further momentum depending on how some indicators behave in the coming days.
OKEx Tweet Announcing GOAT Listing. Source: Twitter.
GOAT’s ADX rose above 32 on Dec. 10, signaling the strength of a significant downtrend that resulted in a 40% price correction in just three days. Still, GOAT remains the largest memecoin initially launched on Pump.fun in terms of market capitalization.
This sharp decline reflected intense selling pressure, and ADX levels indicated strong and sustained bearish momentum during this period.
GOAT ADX. Fonte: TradingView
ADX, or Average Directional Index, measures the strength of a trend without considering direction. Values below 20 indicate a weak or nonexistent trend, while readings above 25 indicate a stronger trend.
If this trend strengthens, GOAT price could see a short-term recovery as bullish momentum builds, although the relatively low ADX value indicates that the new trend is still in its early stages and needs further confirmation.
GOAT’s RSI is not yet in the overbought zone
GOAT’s RSI reached 24 on December 10, signaling oversold conditions following a period of significant selling pressure. However, it has since recovered and now sits at 58.7, indicating a return to more neutral territory. This shift suggests that selling momentum has subsided, and the coin is regaining stability as buying activity picks up.
GOAT RSI. Source: TradingView
The RSI, or Relative Strength Index, measures the speed and magnitude of price changes to assess whether an asset is overbought or oversold. Values below 30 indicate oversold conditions, often signaling potential buying opportunities, while values above 70 suggest overbought levels, which can lead to selling pressure.
With an RSI of 58.7, GOAT is approaching bullish territory but remains below overbought levels. This position could indicate room for further upward movement in the near term as long as buying interest continues to support the recovery.
GOAT Price Prediction: Levels Above $1 Are Difficult But Not Impossible
GOAT price is currently trading within a range, finding support at $0.65 and facing key resistance at $0.87. If this resistance is broken, the price could rally to test $0.95, and a successful breakout beyond that could push GOAT towards $1.27 for the first time in weeks.
Such a move would represent an upside potential of almost 70%, signaling strong bullish momentum if the upward trend gains strength.
GOAT Price Analysis. Source: TradingView
However, holding the $0.65 support level is crucial to sustaining the current uptrend. A failure to hold this level could result in the GOAT falling below $0.6, signaling potential weakness.
Monitoring your EMA lines is also important as the short-term EMA is approaching a bullish crossover. If this crossover occurs, it could act as a catalyst for a move higher, further increasing the likelihood of breaking resistance levels and continuing the upward trajectory.
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