Gigachad (GIGA) Gains Momentum Ahead Of Key Resistance: Is A Breakout On Horizon?

Date: Thu, Jan 24, 2024, 04:29 AM GMT

In the cryptocurrency market today, Gigachad (GIGA) is coming up in spotlight among memecoins, boasting noticeable gains of over 6% in the last 24 hours and surging to $0.077.

Notably, GIGA has shown resilience amidst an ongoing market correction, holding onto a 89% gain over the last 30 days. Today's surge brings it closer to a critical breakout point that could determine its next major price move.

Source: Coinmarketcap

Key Resistance Ahead:

Between September and October, GIGA experienced a staggering rally of over 450%, but this was followed by significant price corrections of over 50%, resulting in volatility. After hitting a recent low of $0.037, GIGA has shown strong recovery, reaching $0.077 and pushing into the important resistance zone of $0.072 to $0.080.

Gigachad (GIGA) 1D Chart/ Coinsprobe

If the momentum continues and GIGA successfully breaks out above the $0.080 resistance—its all-time high—this could signal the start of another bullish rally. Historical patterns suggest that such breakouts have previously led to significant surges, as seen in October when GIGA soared by over 150% within weeks.

The chart shows that GIGA's MACD (Moving Average Convergence Divergence) is crossing into bullish territory, indicating growing buying pressure. The Relative Strength Index (RSI) currently hovers around 66.76, close to overbought territory, signaling strong momentum but with caution for potential exhaustion.

Failure to break above the resistance zone may lead to a pullback toward the $0.058 support level, providing a key area for traders to watch.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.