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Simon’s Cat price has dropped by 3% in the last 24 hours. Trading at $0.00002264 As of 06:00 AM ET, trading volume was down 40% to $55 million.
Simon Cat Price Prediction: Cat Set to Take Off
Immediately after the launch, Simon’s Cat price dropped from the resistance level of 0.00002577 to the support level of 0.00001782 and then returned to the resistance level, forming a rounding bottom pattern. The bears then invalidated the bullish outlook of the pattern, pushing CAT to the support level and then to the upside again.
The price action within this range has formed a double bottom pattern, which could indicate that the price is still poised for an upward move in the coming days. CAT is now trading in a consolidation phase between the $0.00002136 and $0.00002533 range, as bulls aim to break out.
CATUSD Chart Analysis (Source: Gecko Terminal)
Simon’s Cat price is now trading slightly above the 50-day simple moving average (SMA), indicating an imminent bullish stance above the range.
Furthermore, the Relative Strength Index (RSI) is rising from below the 50 midline level as it moves higher, indicating that buying pressure is building up nicely at this level.
If buying activity picks up at this point, the price of Simon’s Cat could rise, with bulls targeting the $0.000030 level.
However, the opposite scenario is also possible as Simon’s Cat price seems to be in equilibrium. If bears take control of the price, Simon’s Cat price could drop back to the $0.00001782 support level, which acts as a massive support level.
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