Will Goatseus Maximus Price Crash 50%?

GOAT price action shows an upward trend in the short term, following a parabolic curve pushing prices higher. However, prices recently faced resistance of nearly $0.90, and the recent red candles suggest a potential pullback.

Goatseus Maximus price has soared since the meme coin’s launch, briefly dipping to $0.45 before continuing its rally. But recent analysis shows that the goat-themed token might’ve hit a zone of major resistance at around $0.90. After showing signs of weakness at this level, could the GOAT price be set for a 50% crash?

GOAT price is currently trading at $0.892, up 11.5% over the last 24 hours.

After showing signs of weakness at a crucial level, will the Goatseus Maximus price now begin a 50% correction?

GOAT price action shows a short-term uptrend, with a parabolic curve pushing prices higher. But prices recently faced resistance at around $0.90, and recent red candles indicate a possible pullback.

The popular meme coin’s trading volume has dropped by 48% over the last 2 days as prices rose, presenting a bearish divergence that signals a potential price decrease in the coming days.

The lack of conviction from buyers to push the price above $0.90 could increase selling volume, leading to a possible pullback.

Key support levels to watch for are $0.80, which aligns with the lower part of the parabolic curve, and the $0.45 level is marked as “Major Support,” indicating a crucial level if the Goatseus Maximus price undergoes a 49% crash.

The Relative Strength Index (RSI) is currently straddling the 70 mark, waving out of the overbought zone, and a sell signal indicates a potential price reversal.

Bullish Scenario for GOAT Price

While the ruling bias for the Goatseus Maximus price is currently bearish, shifting market conditions could alter the trajectory of the price and invalidate the bearish bias.

For instance, the Average Directional Index (ADX) is currently at 31.14. Any value above 25 usually indicates that volatility is high for the corresponding asset. Moreover, the ADX is facing upward, meaning volatility is still rising.

Also, there is an overwhelming bullish sentiment from derivatives traders, who opened over $17 million in longs on Binance, OKX, and Bybit in the last 24 hours, according to data from Coinglass. This figure is almost three times as large as the Shorts, which came in at just about $6 million.

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