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The Myro price jumped more than 30% over the past 24 hours to trade at $0.04191 as of 8:10 AM EST.
The Myro Price Is Attempting To Establish Strong Support
4-hour chart for MYRO/USDT (Source: TradingView)
The Myro price managed to break above the key $0.03940 resistance level over the past 8 hours, and continued to trade above this barrier. A 4-hour candle close above this mark in the next 8 hours may give the crypto the foundation needed to rise to the subsequent threshold at $0.04825.
It will also result in the Myro price having the support of the 9 Exponential Moving Average (EMA) line. Continued buy pressure could then potentially boost its value to as high as $0.05165 in the short term.
This bullish thesis may be invalidated if the altcoin drops below $0.03940 within the next 12 hours. In this alternative scenario, the Myro price could be at risk of correcting down to $0.03050 in the following couple of days.
Sellers Are Still Able To Drag The Myro Price Down
Traders will want to note that sellers are currently stronger than buyers on Myro’s 4-hour chart. This was indicated by the Relative Strength Index (RSI), as the RSI was positioned below its Simple Moving Average (SMA) line.
Generally, this is seen as a sign that it will be easier for sellers to drag a cryptocurrency’s price down than it will be for buyers to boost it. A cross between the RSI and SMA line in the next 48 hours may signal a positive shift in momentum for Myro.
Should the two lines cross, the cryptocurrency could attempt to surpass the $0.04825 barrier in the following hours.
As the Myro price attempts to continue its ascent, time is running out for investors to buy into Sponge V2 during its presale phase.
A Meme Coin With A 100X Track Record
📣 We’re excited to announce that #Sponge is bridging from V1 to V2!
Stake your $SPONGE to earn #SpongeV2 tokens. 🧽💦
Buy and stake now for a special V2 token bonus! Don’t miss out 🔥#MemeCoin #Web3 #BullMarket pic.twitter.com/bYmkg1TNrU
— $SPONGE (@spongeoneth) December 18, 2023
Sponge V2 is offering investors who missed the 100X growth printed by Sponge V1 a second chance to achieve substantial gains. Building off of Sponge V1’s success, the latest iteration of the meme coin has already raised more than $1.9 million through its presale.
Anyone looking to get in on the promising meme coin can do so by purchasing Sponge V1.
Once purchased, the Sponge V1 tokens need to be staked. Investors that already own Sponge V1 will only need to stake their tokens. Investors who staked their tokens will then be rewarded Sponge V2 tokens when the project goes live.
Looking To Surpass Its Predecessor
Sponge V1 left a significant mark on the crypto space. Not only did it reach a $100 million market cap at its peak, it also accumulated 13,000 holders and secured listings on major exchange platforms. These platforms include MEXC, Bitget, Gate.io, LBank and several others.
Michael Wrubel, a crypto YouTuber with more than 310K subscribers, shared with his viewers how he made $100,000 from Sponge V1. Due to this success, he is optimistic that Sponge V2 will perform just as well, if not better.
Sponge V2 is set to get listed on prominent exchange platforms. This will undoubtedly enhance the meme coin’s liquidity and visibility for investors. Enticing staking opportunities currently being offered by Sponge V2, coupled with well-planned tokenomics, combine to offer exciting prospects for buyers.
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