Nine Chronicles (NCG) Bulls Driving Price Upwards
The price of Nine Chronicles (NCG) has experienced a significant increase after a period of decline. Currently trading at $0.096, NCG has risen over 38% in the past 24 hours with a soaring trading volume of 2,396%. But how high can NCG’s price potentially go?
NCG Faces Resistance at $0.19
- The NCG price chart shows a decline from its local high of $0.31, forming a falling wedge pattern.
- However, the bulls entered the market with strong momentum, leading to a sharp increase in price.
- Bulls found strong support around $0.06, attracting buyers and pushing the price higher.
- Recent surge encountered resistance at $0.19, causing the price to fall below the upper trendline of the wedge.
- The price is trading below the 200-day moving average, suggesting a potential further decline.
Potential for Rebound
- The 50-day moving average might act as a support level for the bulls, limiting losses and facilitating a rebound.
- The relative strength index (RSI) points downwards at 54, indicating a decline but still close to its neutral position of 50.
- If the RSI rebounds at the 50 mark, it could empower the bulls to drive prices upwards.
- The Awesome Oscillator remains green, signaling that the upward momentum is still active.
XRP20 Emerges as a Strong Contender
As NCG continues to rise, XRP20 (XRP20) emerges as a potential alternative investment coin. XRP20 introduces stake-to-earn capabilities to the XRP ecosystem, enhancing its scarcity value by removing 10% of the total token supply through a designated burn address. It also functions as a deflationary coin, gradually decreasing the token supply over time.
Hot Take:
The recent surge in NCG’s price is a positive sign for bulls, but they still face resistance at $0.19. The potential for a rebound exists if the 50-day moving average acts as a support level. XRP20 presents an attractive alternative investment with its stake-to-earn capabilities and active community. Acquiring XRP20 at a lower cost in the presale could be a lucrative opportunity for investors.
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