Pangolin prices have surged 1,12% in the past 24 hours to $0.1874 per coin, trading at 2:40 a.m. EST. Investors are betting big on this DEX token.
Pangolin price seeks to break resistance
Pangolin price has managed to break out of the long-term consolidation channel between $0.07985 and $0.09325 in the past 24 hours. As the cryptocurrency price surged, it also broke through the $0.13500 and $0.19895 resistance levels. However, sellers quickly took profits, causing PNG price to fall back below the $0.19895 resistance level.
If the Pangolin price closes above this threshold on the 4-hour candle chart within the next 12 hours, there may be a basis for continued gains, which may remain elevated over the next 48 hours. However, this bullish view may be invalidated if PNG is rejected by the $0.19895 resistance level within the next 24 hours. In such a scenario, the alternative may see this alternative fall to the immediate support level, which is $0.13500. Sustained selling pressure may put the cryptocurrency at risk of falling back to the consolidation channel between $0.07985 and $0.09325 in the short term.
Technical indicators warn that Pangolin price could see correction in the short term
Technical indicators on PNG’s 4-hour chart suggest that Pangolin prices may have peaked and could soon undergo a correction. The Moving Average Convergence Divergence (MACD) indicator shows that PNG’s positive trend is strengthening. This can be confirmed by the MACD line crossing above the MACD signal line.
However, the relative strength index (RSI) on the 4-hour chart suggests that buying pressure has weakened over the past eight hours. Given that PNG’s downside potential is currently greater than its upside potential, the flattening of the RSI line in the overbought region could be seen as a sell signal by traders. Nonetheless, the RSI line remains above its simple moving average (SMA) line, which is generally seen as a sign that buying is stronger than selling. Therefore, bulls still have a chance to push Pangolin prices higher over the next 48 hours.
As Pangolin price attempts to break through another important resistance level, the presale for on-chain AI prevention mechanism Scotty the AI is about to reach $600,000.
Cybercriminals and scammers beware
Scotty the AI is an on-chain fraud detection and prevention project that uses advanced AI models to analyze endless lines of code. Through this analysis, the AI models are able to discover insights and security vulnerabilities that even experienced smart contract auditors would miss.
Launched as a memecoin, it perfectly leverages the loyalty within the active memecoin space. Beyond that, the project is highly practical while addressing the growing threat of cybercrime in the Web3 space.
There are currently two AI products in the Scotty the AI ecosystem. The first is the Token Swap Engine for Memecoin. The advanced AI included in the Swap product can sniff out potential threats on the blockchain before executing a seamless and secure token swap. With this capability, token holders can be alerted to any suspicious transactions and can then stop the transaction to prevent any loss of funds.
Another product offered in the AI Watchdog ecosystem is a chatbot. Token holders can use this product to safely navigate the ever-expanding Web3 space.
Pre-sale boom
Investors are rushing to buy the AI meme coin, whose presale started just a few days ago and has already attracted nearly $600,000. The project's SCOTTY token is priced at $0.0058 and can be purchased on the official Scotty the AI website using Ethereum (ETH), Tether (USDT) or a bank card.
SCOTTY can be purchased here.
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