Sun Token Price Prediction: SUN Plummets 16% In A Week As Investors Flock To This Innovative Staking Meme Coin Presale With Just 7 Days Left
Release: 2024/12/13 15:39 Reading: 914
Sun Token Price Analysis
In the past week, Sun Token's price has declined by 16%, and in the last 24 hours, it has dropped 2%. The current trading price at 11:23 p.m. EST is $0.02589, with a significant 28% surge in trading volume to $101 million.
Technical Analysis: Bullish Trend Reversal Potential
After a notable decline from September to November, Sun Token experienced a rally, forming a rounding bottom pattern. Data from GeckoTerminal shows that SUN surged from the $0.016 support to the $0.038 resistance.
Following a breakout above the 50-day Simple Moving Average (SMA), the price reached a peak near $0.04 but faced a sharp rejection, pulling back to its current level. The rounding pattern suggests buyer control, but the pullback indicates profit-taking or a pause in bullish momentum.
The Relative Strength Index (RSI) is currently at 51.23, indicating neutral momentum. This suggests that the market is in a consolidation phase, neither overbought nor oversold. During the previous rally, the RSI surpassed 70, indicating overbought conditions before the correction.
Potential Bullish Move: Cup and Handle Pattern
The Sun Token price appears to be rebounding from $0.02215, possibly completing a cup and handle pattern in the short term. If completed, this could drive the price towards the $0.040 resistance.
Conversely, a breach below $0.022 would invalidate the bullish setup, potentially revisiting lower levels around $0.02.
Disclaimer:
The information provided in this article is not investment advice and is intended for informational purposes only. Please consult with a financial advisor before making any investment decisions.
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