Water price prediction: Watercoin plummets 23%; Pepe Unchained ICO raises over $1 million

The price of WATER has plunged 23% in the past 24 hours and is trading at $0.002124 with a trading volume of 17% down to just $57.53 million as of 7:15 AM EST. This plunge occurred despite the crypto exchange Bitget adding WATER to its PoolX platform. WATER price rebounded on a double bottom pattern and stabilized at the $0.001731 support level, which suggests an upward shift in trend. This support level buoyed the bulls, pushing the price above the $0.002366 resistance level, where they are targeting higher highs. Despite the recent decline in bearish activity, bullish investors are preparing to push WATER price above $0.002858, suggesting that the uptrend is likely to continue. Currently, the price is trading above the 50 Simple Moving Averages (SMAs), which supports the upside momentum of WATER price and strengthens the overall bullish sentiment in the market. The MACD average has also crossed the signal line below the neutral level. Moreover, the green histogram bars are positive, indicating an increase in investor interest. This alignment indicates a strong bullish trend, with the MACD indicator showing positive momentum. Moreover, the Relative Strength Index (RSI) has rebounded from the 30 oversold level, surpassing the 50 mid-line level to reach the 60 overbought level close to 70, indicating strong buying pressure. If WATER continues its upward development, it may bounce back to the previous resistance level of $0.003545. This ongoing upward trend suggests that in the coming weeks, WATER has the potential to recapture its all-time high of $0.004958 in market value, which would imply a significant recovery in its market value. Conversely, if WATER struggles to break through this critical resistance, it may face increased selling pressure. In this case, the focus will shift to the $0.001946 mark, which is an important support level to keep a close eye on. Meanwhile, the new memecoin Pepe Unchained ($PEPU) has raised more than $1 million in its presale. PEPU differs from other memecoins by introducing a native Layer 2 chain on top of the Ethereum network. This move not only frees it from the limitations of Ethereum, but also brings unprecedented speed, scalability, and significantly reduced fees. Through this private network, Pepe Unchained will be able to transact 100 times faster than most memecoins hosted on Ethereum.