Myro price has jumped 54% to $0.06284, with a 101% surge in trade volume amid rising investor interest, coming at the same time as Solana (SOL) gaining traction and overtaking Ethereum in Google search interest.
The increase in Myro price also comes in the midst of meme coin fever where market cap tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) continue to get attention, but low market cap projects like MYRO are also gaining traction. The market capitalization stands at $63.6 million.
Myro Price Movement
Myro price has broken through the 78.6% Fibonacci level at $0.0533 and is already overbought according to the Relative Strength Index (RSI) at 78, leaving room for a potential correction.
However, despite the possibility of a pullback, the Awesome Oscillator flashing green in positive territory indicates that bulls maintain a presence in the market, and Myro price could continue to rise.
Traders currently holding open long positions for Myro price should leave them open, given the presence of bulls and the RSI’s northbound movement. New long positions, however, should be entered cautiously due to the high risk of pullback.
Converse Case
If profit takers cause a retraction, Myro price could fall within Bollinger bands, potentially losing support offered by the 61.8% Fibonacci level at $0.04418. For a bearish case, Myro price would need to drop to the 38.2% Fibonacci level at $0.0313.
Another alternative to Myro is the MK token, a new player in the meme coin sector, which is currently in the presale stage and aims to be a promising alternative for investors.
Hot Take
MK is shaping out to be a strong contender in the meme coin ecosystem, providing an alternative for investors who may be interested in the Meme Kombat platform, offering high Annual Percentage Yields (APY) and a gaming innovation.
Given the potential of the project, you may want to consider this emerging opportunity, especially since many analysts believe it could be the “biggest meme coin gaming token of 2024”. Ignore it at your own risk!
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.