The Moonwell price has soared 31% in the last 24 hours to trade at $0.01663 as of 7:15 a.m. EST on a 371% surge in trading volume to $2.6 million.
Moonwell Price Poised For A Bullish Breakout
The WELL/USD price action shows a bullish pattern forming, with a rounded bottom indicating a potential reversal from the recent downtrend.
The rounded bottom pattern is often seen as a strong reversal signal, suggesting that the market may have found a solid base and could be gearing up for further upward movement.
The price is currently trading around $0.01657, above the 50-day simple moving average (SMA) at approximately $0.01499.
This move above the 50 SMA is a positive sign, suggesting a shift in momentum as the price attempts to break out of its previous bearish trend.
WELLUSD Analysis Source: Dextools.io
The MACD indicator shows a bullish crossover, with the MACD line moving above the signal line, reinforcing the potential for continued upward momentum. furthermore, the histogram bars are increasing and above the neutral level, supporting the overall bullish sentiment
Additionally, the RSI is at 62.02, indicating bullish sentiment but not yet overbought, suggesting that there is still room for further upside.
If the momentum increases it could force the RSI into the overbought zone implying intense buying pressure for the Moonwell price.
Moonwell Price Could Continue The Momentum
The formation of the rounded bottom, bullish MACD crossover, and RSI positioning suggest a positive outlook for WELL/USD, with a potential move towards the major resistance level at $0.02500.
If the price continues its upward movement, the next key resistance level is around $0.02500, which poses a significant hurdle.
A successful break above this level could open the door for further gains, potentially pushing the price towards $0.03000 or higher.
Conversely, if the price fails to sustain its current levels and begins to decline, it may revisit the 50 SMA at $0.01499 or test lower support areas.
The Crypto All-Stars Presale Nears the $1 Million Milestone
Meanwhile, another crypto that’s attracting a lot of investors in a downmarket is Crypto All-Stars (STARS) , a new presale that is closing on the $1 million milestone.
Jacob Bury, a prominent crypto YouTuber with over 42k subscribers, says STARS has the potential to soar 10X after its launch.
Crypto All-Stars is the world’s first MemeVault Ecosystem, bringing together leading meme coins on a single platform. This innovative project is unique in offering cross-chain multi-meme coin staking through a unified staking protocol.
The centrepiece of Crypto All-Stars is MemeVault, which allows meme coin holders to stake their tokens and earn $STARS as rewards.
Currently, the platform supports popular meme coins such as Dogecoin, Pepe Coin, Shiba Inu, Floki Inu, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk, with plans to add more meme coins in the future.
For those interested, $STARS tokens can also be staked for an annual percentage yield (APY) of 1,436%.
You can buy STARS currently for $0.0014248 from its official website using BNB, USDT, or a bank card. But do not take too long as a price hike is coming in less than 19 hours.
Buy $STARS now to get the best deal.
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