GOAT’s price has surged 214.29% in a month, recently surpassing the $1 billion market cap and securing its spot as the 10th largest memecoin. It is now just ahead of MOG, which closely follows its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether the rally will continue or whether a correction could occur soon.
BBTrend is negative for the first time in 4 days
GOAT’s BBTrend has entered negative territory for the first time since the start of the week, now at -0.54. This move suggests that bearish momentum is starting to take hold, with the asset’s recent upward trajectory starting to weaken.
This indicator measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increasing downward pressure, which may indicate the beginning of a broader market shift.
BBTrend da GOAT. Fonte: TradingView
Additionally, GOAT had an impressive November, gaining 61% and hitting a new all-time high on November 17th.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
RSI is in a neutral zone
The RSI has fallen to 52, down from over 70 a few days ago when it hit an all-time high. This decline indicates that buying momentum has cooled and the market has exited the overbought zone.
The decline suggests a shift to more neutral sentiment as traders consolidate gains and the previously strong upward pressure eases.
GOAT RSI. Source: TradingView
At the current level, GOAT's RSI is in a neutral zone, signaling no strong bullish or bearish momentum.
This could mean that the current trend is losing steam, and the price could consolidate or move sideways unless renewed buying pressure reignites the upward momentum.
GOAT Price Prediction: A Further Rise Up to $1.50?
If GOAT’s current bullish trend regains momentum, it could retest its all-time high of $1.37, setting its market cap above $1 billion, a key threshold to be among the largest memecoins in the market today.
Breaking this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
GOAT Price Analysis. Source: TradingView
However, as shown by indicators such as RSI and BBTrend, the uptrend may be losing momentum. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
If these levels fail to hold, the price could drop further, potentially reaching $0.419, putting its position in the top 10 memecoin rankings at risk.
The article GOAT Enters Top 10, But Signs Point to Correction was first seen on BeInCrypto Brasil.