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The LimeWire price pumped over 31% in the last 24 hours to trade at $0.4037 as of 7:35 a.m. EST as investors bet big on the altcoin.
A second new listing in just one week 🚀$LMWR is now available on @bitvavocom, a leading European exchange with more than 1.5 million users and a monthly volume of over €10B 📈
Come and check it out here 👇 https://t.co/g45CkVYBQ0
— LimeWire (@limewire) June 20, 2024
This surge in the LMWR price comes after the project scored its second listing for the week on the leading European exchange Bitvavo. In just 3 hours after making its way to the platform, the crypto experienced more than $1 million in trading volume.
The LimeWire Price Forms A Bearish Channel
4-hour chart for LMWR/USD (Source: GeckoTerminal)
The LimeWire price was briefly able to break above the resistance level at $0.4495, but sellers quickly pulled the crypto’s price down. In the last couple of hours, the altcoin printed a series of lower lows and lower highs on the 4-hour chart. This has resulted in the formation of a negative channel.
Should the LimeWire price continue to trade in this descending channel, it could lose the key $0.4040 support level soon. Breaking below this technical crutch could then expose LMWR to the risk of falling to the subsequent mark at $0.3586 in the following 24 hours.
On the other hand, the LimeWire price maintaining a position above $0.4040 for the next 8 hours might invalidate the bearish thesis. Traders could then look to enter into a long position for the crypto. With this potential buy pressure, LMWR might attempt to overcome the $0.4495 barrier again.
Closing a 4-hour candle higher than $0.4495 could give the LimeWire price the foundation needed to continue climbing in the short term. LMWR might rise to as high as $0.4929 as a result.
Technicals Warn The LimeWire Price Might Drop In The Short Term
Technical indicators on LMWR’s 4-hour chart warn that the LimeWire price is not finished falling yet. Throughout the past 12 hours, the Relative Strength Index (RSI) line has dropped from 70 to just above 50. This might be indicative of diminishing buyer strength.
Although the RSI is still bullishly above 50, the negative slope of the technical indicator warns that bears could soon gain the upper hand against bulls. A potential confirmation of this might be if the RSI drops below the 50 mark.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is collapsing towards the MACD Signal line. Traders usually see this as an indication that a crypto is in a bullish cycle that is approaching its end. When looking at LMWR’s 4-hour chart, the peak for the current bullish phase seems to have been reached when the LimeWire price was able to briefly break $0.4495.
Should the MACD line cross below the MACD Signal line within the next 12 hours, it could signal that the LimeWire price has entered a bearish cycle. As such, the crypto’s price might drop in the following 24 hours.
As the LimeWire price stands the risk of losing a key support soon, investors might want to consider a new, red hot ICO called Pepe Unchained (PEPU).
Breaking The Shackles Of Its Clunky Layer-1 Origins
Pepe Unchained (PEPU) is on a mission to overcome Ethereum’s scalability limitations.
To achieve this, the project is doing what no meme coin before it has done. With its own dedicated Layer-2 network, Pepe Unchained will give investors an unmatched transactional experience that is 100 times faster than that of Ethereum.
The token is no clone of PEPE, which has become the third largest meme coin by market cap. Instead, Pepe Unchained is a completely new token that is on a mission to replace PEPE and usher the viral frog mascot into a new meme coin era.
In addition to fast transaction speeds and low network fees, Pepe Unchained will also offer investors huge staking rewards. Anyone who buys the meme coin and locks up their tokens during its ongoing presale stage gains access to a 16,104% APY.
It’s already caught the attention of renowned crypto YouTuber Jacob Bury, who ranks it among the “Next 3 100X Potential Crypto to Buy Now?!”
Off To A Roaring Start
Pepe Unchained raised over $150,000 within just minutes of its ICO going live. Investors have continued to pour funds into it, taking it to more than $245k raised in just one day.
Anyone that wants to acquire the token at this early stage can do so through the project’s official website using the simple buy widget embedded on the site’s homepage.
Selling for $0.008, PEPU can be bought using either ETH, USDT, BNB or bank card.
Purchase and stake PEPU here for up to 16,104% in annual rewards.
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