**Wemix Price Bulls Could Be Aiming At $2.06 Level**
The Wemix price has experienced a 10% increase in the past 24 hours, reaching $1.29 as of 5:48 a.m. EST. This rise in price is attributed to the ongoing WEMIX airdrop, with today being the last day to participate. The presence of an ascending triangle has fueled bullish momentum, as the price rebounds from the lower trendline of the triangle. However, there is a potential downtrend indicated by the formation of a double-top pattern at the $1.29 resistance level. On the other hand, if the bulls continue their strength, they may breach this resistance and aim for new highs, targeting the $2.06 resistance level.
**Moving Averages and Relative Strength**
The price of WEMIX has successfully surpassed the 50-day and 200-day moving averages, which now act as immediate support levels. The confirmed crossover of the 50 SMA over the 200 SMA may attract more buyers and contribute to the ongoing bull rally. The relative strength has also experienced a recovery, surpassing the 50-level mark and entering the overbought region at 70. This indicates significant buying pressure aligning with the price movement.
**Potential Bearish Scenario**
Despite bullish indicators, bears could capitalize on the $1.29 resistance level and push the price down to the $1.05 support level. If a candlestick opens below this threshold, it could lead to further losses for bulls, potentially reaching the $0.84 support zone.
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**Closing Thoughts**
With the ongoing WEMIX airdrop and bullish momentum in the market, the Wemix price has seen a significant increase. However, there is a potential downtrend indicated by a double-top pattern at the $1.29 resistance level. On the other hand, if the bulls continue their strength, they may breach this resistance and aim for new highs. In the world of memes, Meme Kombat offers an exciting opportunity for investors to participate in meme competitions and earn prizes. With its staking options providing high APY rates, Meme Kombat presents a unique way to generate passive income.
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