Gigachad Price Signals A Bull Rally Above The Bearish Channel

The Gigachad price has been on a downturn since the bulls were discontinued from further profiting at the $0.02224 resistance zone. This level allowed the bulls to push the price down within a bearish channel pattern which traders look to for bearish trend continuation and possible bullish reversal trends.

The Gigachad price has soared 18% in the last 24 hours to trade at $0.01477 as of 3:30 a.m., following a 23% plunge in trading volume to $4.3 million.

This has made it the top searched meme coin on CoinGecko, with Moca Coin, Neiro on ETH and Toncoin trailing behind.

Here's a look at what people are searching for on CoinGecko today!

Top 5 Trending:

• Gigachad – $GIGA

• Moca Coin – $MOCA

• Neiro on ETH – $NEIRO

• Toncoin – $TON

• Ginnan The Cat – $GINNAN

Got any of these in your bag?

View the full list:

https://t.co/wR2b6z7a17

pic.twitter.com/b25TiNcCNP

— CoinGecko (@coingecko) August 7, 2024

The Gigachad price has been on a downturn since the bulls were discontinued from further profiting at the $0.02224 resistance zone. This level allowed the bulls to push the price down within a bearish channel pattern which traders look to for bearish trend continuation and possible bullish reversal trends.

However, the bulls have staged a strong support zone at $0.00852, aligning with the lower trendline of the bearish channel. The support level has helped the bulls catapult the price to the channel's upper trendline, breaking upwards.

Despite the short reversal action by the bears, the bulls seem poised to drive the price higher to new levels.

GIGAUSDT Analysis (Source: Tradingview)

The bulls have also ensured the price trades above the 50 Simple Moving Average (SMA) to secure the bullish momentum. Currently, the 50 SMA aligns with the channel's upper trendline and acts as immediate support for the Gigachad price.

Furthermore, the technical price indicators of RSI and MACD also indicate a thriving scenario. The Relative Strength Index indicates a move from the  30 oversold level past the 50 midline level at 60. This indicates intense buying pressure for the Gigachad price. Increased bullish momentum should be able to push the price  RSI into the 70 overbought region.

The moving Average Convergence Divergence (MACD) indicates an intense bullish move as the indicator trades above the neutral position.

Furthermore, the blue average line has also crossed the orange signal line, indicating that the bulls have full control of the price and may continue the rally in the upcoming weeks.

The increasing histogram bars indicate that the trading volume is also increasing, giving the bulls another opportunity to spring the price to new levels.

There is high anticipation for the bulls to push the price high to recover all the lost profit during the bearish momentum. Increased momentum should help the bull drive the price up to reclaim the previous high at $0.02224 and reach a new high level at $0.02739.

However, if the bullish momentum weakens, it would give another chance to the bears to drive the price to back to the bearish channel. In this scenario, the support zone at $0.01059 may act as a safe landing for the bulls before they regroup again to recover.

As the Gigachad price picks up momentum, the Olympic Games-themed meme coin The Meme Games ($MGMES) is going from strength to strength in its presale phase.

Influential crypto analyst and YouTuber Clay Bro recently told his 130k subscribers that the token ”could be the next Pepe.”

The Olympic Games-themed MGMES has stormed past $343k raised and will make a splash with its DEX listing on Sept. 10.

Olympic-Themed Meme Coin Meme Games Raises $300,000 in Presale https://t.co/mHsAxd4hBr via @theweb3Today #MemeGames $MGMES #memecoins #presale #Olympicstyleevents #cryptoinvestment #Dogecoin #Pepe #Turbo #stakingrewards pic.twitter.com/AF1MNv9ze3

— Sampda Gupta (@SampdaGupt5773) August s, 2024

The project combines the thrill of Olympics competition with the crypto world's excitement, allowing users to bet on meme characters in fun, competitive events.

In this gamified experience, participants can place bets on popular meme characters like Dogecoin ($DOGE), Pepe ($PEPE), DogWifHat ($WIF), Brett ($BRETT), and Turbo ($TURBO) as they compete in Olympic Games-style challenges.

Investors can win a 25% token bonus when they join. New buyers enter

The above is the detailed content of Gigachad Price Signals A Bull Rally Above The Bearish Channel. For more information, please follow other related articles on the PHP Chinese website!