- MemeCore has jumped by 41.92% in value.
- Daily trading volume has exploded by 112%.
- Technical setup points to bullish momentum.
MemeCore has implemented two hard forks to lower transaction fees and adjust to the latest upgrades made to the Ethereum Virtual Machine (EVM). A few main changes include lowering gas prices from 1,500 gwei to 15 gwei (1/100), account abstraction, and scalability for L2.
As the team announced the upgrade with a simple message: “Just sit back and enjoy the smooth, cheaper cost-effective ride in the MemeCore ecosystem!” The market responded immediately, and the MemeCore (M) price has pumped by over 41.92%. The chart reveals that the buyers are in full control.
If the rally continues and breaks the $3 zone, the asset will enter uncharted territory. Its all-time high sits at $2.96, 16.96% away from where the price is right now. At press time, MemeCore is trading at $2.45, after a 41.92% jump, with the trading volume having exploded by 112% to $31.79 million. Besides, the M market has seen a $2.16 million worth of liquidation.
On the four-hour trading chart, with the bullish pattern, the MemeCore price could move up to the resistance at around $2.76. With the intense upside pressure, the golden cross might take place and send the price even higher. Conversely, if a bearish reversal occurs for MemeCore momentum, the price might retrace to the $2.14 support. Assuming the downside correction gains more traction, it triggers the death cross to unfold, pushing the price lower.
MemeCore Charts Indicate Growing Upside Momentum
The MACD line is far above the signal line, and both are above the zero line, showing a strong bullish impulse. The price is moving up with acquired strength, and the market is running hard to the upside, though when the gap gets wide, a short pullback can happen before continuing higher.
In addition, the CMF indicator resting at -0.00 is in the neutral zone. There is no money flow in or out, so neither the buyers nor the sellers have control. Significantly, the MemeCore market is undecided, pointing to sideways movement, unless a stronger inflow or outflow likely starts building.
MemeCore’s BBP value is positioned at 0.753505, indicating moderate bullish pressure. Buyers have a clear edge, pushing the price above its average with modest strength, not extreme. The market is leaning higher steadily, with room to continue if buying interest holds.
Moreover, the daily RSI of 83.27 is deep in the overbought territory. Notably, the price action has run up very fast, with the buyers in strong control, and the move is starting to feel overstretched. At this level, the market is due for a pullback, even if the overall trend is still bullish.
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Source: https://thenewscrypto.com/41-surge-sends-memecore-flying-more-gains-or-pullback-ahead/
