Gorilla price surged by more than 42% in the past 24 hours and is currently trading at $0.006979 as of 2:25 a.m. EST. Investors have huge expectations for this alternative coin.
The latest surge in Gorilla’s price has pushed its yearly gain to over 28,61%. It has also put the cryptocurrency back into positive territory on a weekly and monthly basis.
Gorilla price is attempting to break above the $0.007014 resistance level after it successfully cleared the $0.005606 barrier in the past 24 hours. If this altcoin can close above $0.007014 in the next 12 hours, it could continue to climb higher in the next few days.
Traders are likely to enter long positions on the cryptocurrency, which could push Gorilla prices towards the major resistance at $0.009196 over the next 24 hours. Enough buying pressure might even lead the altcoin to break above this resistance and attempt to challenge the $0.012055 level in the near term.
Before traders and investors enter into long positions, they need to pay attention to the rising wedge that has formed on the 4-hour chart of Gorilla. This is a bearish pattern that is often seen as a sign of an impending correction.
This pattern may be validated if the cryptocurrency fails to close above $0.007014 within the next 12 hours. As a result, sellers may pull Gorilla prices back to the aforementioned $0.005606 level. Sustained selling pressure at this point may cause the altcoin to fall to $0.004565.
Technical indicators on the 4-hour chart of Gorilla price remain bullish. However, signs of weakening buying power have emerged. Both the MACD indicator and the Relative Strength Index (RSI) indicator suggest that Gorilla price may continue to rise in the next 24-48 hours.
The MACD line has crossed above the MACD signal line. This is not only seen as a sign that the cryptocurrency has entered a positive cycle, but also indicates that its bullish momentum is stronger.
Meanwhile, the RSI is above its simple moving average on the 4-hour chart, which suggests that buying is stronger than selling. However, the RSI formed a peak in the overbought zone in the past eight hours and has since declined.
This could be an early sign of an impending bear trend reversal. Therefore, traders may take a short position on Gorilla as its downside potential is currently greater than its upside potential.
Despite the risk of an imminent correction in Gorilla’s price, investors are still flocking to the Dogecoin 20 presale in the hopes of making 100x gains by 2024.
Investors rushed to buy the Maimicoin ahead of its launch this month.
Crypto traders and investors continue to flock to the presale of Dogecoin 20. This mini-coin is the first major upgrade to the DOGE brand and technology since Dogecoin launched in 2013, raising more than $10 million through its ICO. This caused the presale to sell out ahead of schedule.
Due to the extremely high popularity, the project team decided to give investors one last chance to buy this DOGEcoin before the launch of Dogecoin20 on April 20. With 17 days left, Dogecoin20 (DOGE20) is expected to bring considerable returns to investors after its launch.
As an ERC-20 token, DOGE20 not only serves as a more environmentally friendly solution than the original Dogecoin, but also enables token holders to earn returns through staking. Anyone who buys in the early stages and locks up tokens is eligible for an annual return of up to 64%.
Greater growth potential than original Dogecoin
Dogecoin has come a long way since its launch and currently holds the title of the highest-valued coin by total market cap. However, its price potential remains limited due to its unlimited supply of tokens. Dogecoin 20 seeks to take advantage of this shortcoming, with the team limiting the supply of this new coin to 140 billion.
This fixed number of tokens makes it entirely possible for Dogecoin20 to outperform traditional DOGE in the medium to long term. If Dogecoin20 can maintain its momentum after the presale period, it may only be a matter of time before it leaves the original Maimicoin behind.
Investors who want to buy DOGE20 can do so on the project’s official website. Dogecoin20, which is priced at $0.00022, can be purchased using ETH, BNB, USDT, or a bank card.
DOGE20 can be purchased here.
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