•  In the fast-evolving blockchain gaming sector, Lumber stands out as a new utility token designed to revolutionize the gaming experience.

  • Biconomy launched LumberJack Game and started trading LUMBER/USDT at 11:30 UTC on July 19, 2024.

  • The token opened at approximately $0.00001140 and surged to around $0.00002000 within six hours, marking a 75% gain.

  • After this initial spike, the price has stabilized around $0.00001934.

  • According to the hourly chart, LUMBER's price is currently above the 20-period SMA, indicating a short-term uptrend. 

  • The RSI is overbought, indicating that the price may need to correct or consolidate before advancing further.

  • The chart shows a strong upward movement with several large green candles, reflecting strong bullish momentum.

  • After this rise, the price has settled into a horizontal consolidation phase with smaller candles.

  • The recent price action seems to have formed a bullish flag pattern, characterized by a sharp rise followed by a period of consolidation.

  • According to Coingabbar analysis, If the price continues to rise and breaks above $0.00002000, it could move significantly towards $0.00005000.

  • On the other hand, if profit-taking pushes the price below $0.00001900, it might correct to around $0.00001500, with additional support at $0.00001000.

KEY LEVELS :

RESISTANCE LEVEL : $0.00003000-$0.00005000

SUPPORT LEVEL : $0.00001000-$0.00000500

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