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The Silly Dragon price has soared 33% in the last 24 hours to trade at $0.01533 as of 3:20 a.m. EST on a 179% surge in trading volume to $16 million.
Silly Dragon Price Signals A Bullish Reversal
The SILLY/USD price action shows a clear parabolic rise in early 2024, followed by a steep correction. After this correction, the price entered a consolidation phase, forming a support level around the $0.010 to $0.012 range, as indicated by the horizontal orange line.
The current price is approximately $0.01518, suggesting that the asset is attempting to break out of this consolidation.
SILLYUSD Analysis Source: Dextools.io
Looking at the moving averages, the 50-day simple moving average (SMA) is sitting at $0.01047, slightly below the current price. If the price continues to stay above it, this could signal the beginning of a bullish reversal.
The 200-day SMA, on the other hand, is still higher, at $0.01665, and would likely act as a key resistance level if the price pushes upwards. Breaking above the 200-day SMA would be an important signal for a more sustained rally. The MACD indicator is showing a small positive histogram, which hints at potential bullish momentum, though the lines remain close, indicating some market indecision.
The RSI (Relative Strength Index) is currently at 68.58, which is nearing the overbought territory (above 70). This suggests that while there’s bullish pressure, the price could face resistance soon if the RSI crosses into overbought conditions, potentially leading to a pullback.
If it convincingly breaks out from the current consolidation zone, the price could initiate an uptrend. The 200-day SMA at $0.01665 is the next significant resistance level to watch.
However, with the RSI nearing overbought levels, caution is warranted as the price may face short-term resistance or retracement before continuing upwards. Should the breakout fail, the price may retest the lower support zone between $0.010 and $0.012.
Memebet Casino Surges Past $433K: The Next Crypto To Explode?
While traders await a bullish rally in the Silly Dragon price, investors are rushing to the new meme coin casino project, Memebet Casino (MEMEBET Token), as its presale surges towards $500k in early funding.
Influential YouTuber ClayBro, with over 130K subscribers, says the Telegram-based token is ”getting ready to lead crypto gaming.”
Memebet Casino is an emerging online casino that differentiates itself from competitors by allowing users to bet with popular meme coins such as Dogecoin, Pepe, Shiba Inu, and others.
Players will be able to gamble on slots, table games, and sports. It rewards $MEMEBET Token holders and high rollers with bonuses and access to an exclusive VIP community, and provides top bettors with special perks and privileges.
Investors who place bets with the Memebet Token will earn rewards through the Memebet Airdrop campaign.
GameFi Meme Coin Memebet Token Raises $430K in One Month – Last 24 Hours Until Next Funding Round pic.twitter.com/mGZhOnLGO3
— Crypto Era (@_cryptoera_) October 10, 2024
Token holders will gain access to special challenges and exclusive bonuses once the casino is launched. The developers have allocated 20% of the total 2 billion token supply for casino rewards, including airdrops and lootboxes.
These lootboxes will offer various benefits, such as bonuses, freebies, and even real-world prizes to token holders.
Currently priced at $0.0258, investors can buy Memebet Token using $ETH, $BNB, $MATIC, $USDT, or a bank card. With the price set to increase in less than 4 days, don’t wait too long to secure the best deal.
You can buy MEMEBET Token on the official website here.
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