XYO Price Prediction: XYO Pumps 231% In A Week, But Traders Pivot To This New Meme Coin ICO For 100X Gains
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The XYO price has soared more than 231% in a week following a minor 24-hour gain to trade at $0.02866 as of 3:39 a.m. EST as investors accumulate the altcoin.
Along with the slight uptick in the XYO price in the last 24 hours, trading volumes have also risen over 7% during the same time period.
XYO Price Stuck In A Bearish Channel
1-hour chart for XYO/USD (Source: GeckoTerminal)
The XYO price has recorded a series of lower lows and lower highs on the hourly chart in the last few hours. This has resulted in the formation of a descending price channel. Now, the altcoin is resting on the key support level at $0.02707. Dropping below this technical crutch in the next couple of hours might lead to XYO falling to as low as $0.02138 in the short term.
Bulls can still take control of the situation. If buyers manage to keep the XYO price above the $0.02707 support for the next 4 hours, they could help the crypto exit the bearish channel it is currently trapped in.
Rising above the upper boundary of the descending price channel could clear the space needed for XYO to rise to the $0.03198 resistance. Breaking above this mark might then lead to the altcoin flipping the $0.03714 resistance into support before potentially rising to $0.04231 if buyers continue to exert pressure on the XYO price.
Bears Might Keep Pushing The XYO Price Down
From a technical standpoint, indicators on XYO’s 1-hour chart suggest sellers still have the upper hand. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn that bears might keep pushing the XYO price down through the course of the next trading day.
The MACD line is positioned below the MACD Signal line on the 1-hour chart. This orientation of the two MACD lines is generally interpreted as a sign that a crypto is in a negative trend. Meanwhile, RSI readings have plunged from above 75 to around 47, which suggests sellers are growing stronger against buyers.
While XYO tries to break out of a bearish channel, investors are rushing to buy a new meme coin called Flockerz (FLOCK) for potential parabolic gains.
A Truly Community-Driven Meme Coin
Many projects in the Web3 and even in the meme coin space claim to be fully decentralized, but this is often not the case. Flockerz (FLOCK) stands out in this regard with its innovative vote-to-earn mechanism which places the future of the project entirely in its community’s hands.
By simply holding FLOCK tokens, investors can have their voices heard during important governance decisions. What’s more, investors are rewarded with additional FLOCK tokens every time they place a vote. This unique vote-to-earn model will likely keep the community engaged with Flockerz over the long term, which is something many projects struggle with.
Several experts have also stepped forward to share their bullish predictions for FLOCK. Among them is an analyst from the 99Bitcoins YouTube channel, which currently has over 711K subscribers. In a recent video, the analyst said that FLOCK could soar 100X after its launch.
Investors Take A Bet On FLOCK’s Future
Flockerz has already raised over $4.3 million through its ongoing ICO, signaling strong investor confidence in the project’s future. This buying frenzy could continue given the lucrative staking opportunity on offer to presale buyers. Anyone who buys and stakes FLOCK now will unlock access to a 559% Annual Percentage Yield (APY).
The flocks always helping each other reach their goals!
Teamwork makes the dream work! pic.twitter.com/Mk97zpMy37
— Flockerz (@FlockerzToken) December 2, 2024
Investors who want to get access to these rewards can do so by first buying FLOCK through the widget embedded on the project’s website. Selling for $0.0062245, FLOCK can be bought with both crypto or bank card.
Once purchased, investors can then navigate to the staking page on the website to lock up their tokens for the 559% APY.
Investors who want to acquire the token at the best rate will want to act quickly because FLOCK’s price will increase with each subsequent stage of its ICO. The next price hike will happen in just over 24 hours.
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