- LIKE’s year-long wedge shows higher lows and fading sell pressure, pointing to bullish compression and possible breakout above $0.021.
- Momentum signals like MACD and RSI hint at a shift, as buyers step in and price grinds toward key resistance with renewed strength.
- With 79% of supply circulating and OBV flattening, LIKE may be near a turning point as demand starts to outpace lingering sell-side volume.
LIKE (Only1) is gaining attention as price action tightens within a long-term wedge formation and bullish momentum begins to surface. Technical structure, volume behavior, and momentum signals suggest a possible breakout setup is underway.
Wedge Compression Aligns with Bullish Divergence
LIKE has spent nearly a year inside a descending wedge that began forming around mid-2023. Since then, the token has produced a series of higher lows, all while facing repeated resistance near $0.021. This structural tightening, paired with hidden bullish divergence on momentum indicators, is now creating the conditions for a potential upside breakout.
Price currently trades around $0.01488 and recently posted a 3% gain. Though modest, this movement occurred within a compressed range, between $0.01422 and $0.01504, signaling growing pressure. Momentum indicators are showing clear signs of recovery. The MACD line has started to curve upward from oversold territory , while the histogram prints lighter red bars. This suggests that bearish momentum is fading and buyers are gradually returning.
RSI sits at 43.0, a neutral level that offers room for continued upward expansion. Volume has been relatively muted during the broader consolidation phase, which is typical of accumulation patterns. However, brief spikes in buying interest have emerged, pointing to renewed participation. With the descending wedge nearing its apex, a decisive break above $0.021 could open a much larger upside target, estimated around $0.8031.
Short-Term Strength Signals Shifting Market Mood
Recent intraday data shows that LIKE is maintaining support above $0.0142 while retesting resistance near $0.015. The token’s market cap reached $5.88 million, briefly touching $5.95 million before easing slightly, mirroring the shallow pullbacks visible on the price chart.
Source: Like price on Gecko
This price behavior reflects a market that is beginning to favor bullish setups. Trading volume over 24 hours stood at $597,910, showing strong exchange activity and liquidity. These metrics confirm that LIKE remains actively traded, even in tight ranges.
Repeated bullish surges followed by brief consolidations suggest buyers are in control, absorbing supply and pushing higher after each pause.
Circulating Supply and OBV Add Bullish Weight
LIKE has a circulating supply of 395 million tokens, covering 79% of its 500 million total supply. This relatively high distribution could limit future selling pressure if demand increases. OBV, sitting near 164.4M, is beginning to flatten, a signal that extended selling may be ending.
Source:
Gecko
LIKE is now at a key inflection point. As wedge pressure builds and momentum strengthens, the market awaits confirmation of a decisive breakout.
