Is It Too Late To Buy HARAMBE? Harambe Price Soars 20% And This Might Be The Next Crypto To Explode
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The
Harambe
price
has
soared
20%
in
the
last
24
hours
to
trade
at
$0.01856
as
of
6
a.m.
EST
on
a
7%
drop
in
trading
volume
to
$547k.
Harambe
Price:
A
Strong
Support
Zone
The
daily
price
movements
of
the
HARAMBE/USD
pair
hover
near
a
significant
support
zone,
marked
in
orange.
This
zone
has
proven
its
strength
as
buyers
have
repeatedly
stepped
in
to
prevent
further
declines
whenever
the
price
approaches
this
level.
Above
is
a
key
resistance
level
around
the
$0.045
mark,
indicated
by
the
dotted
line.
This
level
has
been
a
formidable
barrier
in
the
past,
with
the
price
struggling
to
break
above
it
on
several
occasions.
HARAMBE/USD
Analysis
Source:
Dextools.io
Currently,
the
price
trades
below
both
the
50-day
(in
light
blue)
and
200-day
(in
dark
blue)
Simple
moving
averages
which
points
to
a
bearish
trend.
Furthermore,
the
50-day
SMA
is
positioned
below
the
200-day
SMA,
forming
what
is
known
as
a
“death
cross,”
which
reinforces
a
bearish
outlook,
indicating
that
the
market
may
continue
to
face
downward
pressure.
Harambe
Price
Indicators
Signal
More
Upside
Coming
The
Relative
Strength
Index
(RSI),
a
momentum
oscillator,
currently
reads
48.96.
This
places
it
in
neutral
territory,
not
signaling
that
the
market
is
overbought
or
oversold.
Thus,
the
RSI
does
not
provide
a
strong
directional
cue
at
this
time,
leaving
the
market’s
next
move
open
to
possibilities.
Meanwhile,
the
Moving
Average
Convergence
Divergence
(MACD)
indicator
shows
a
slight
bullish
signal.
The
MACD
line
(blue)
has
recently
crossed
above
the
signal
line
(orange),
which
can
be
an
early
sign
of
a
potential
upward
reversal
or
at
least
some
short-term
bullish
momentum.
Given
these
observations,
several
scenarios
could
unfold.
If
the
support
zone
holds
and
bullish
momentum
builds,
the
price
might
rally
towards
the
major
resistance
level
at
$0.045.
Successfully
breaking
above
this
resistance
could
pave
the
way
for
a
more
substantial
upward
movement.
However,
if
the
support
zone
fails
to
hold,
the
price
could
experience
a
breakdown,
leading
to
further
declines.
In
this
case,
the
market
would
need
to
find
the
next
level
of
support,
which
would
be
lower
than
the
current
zone.
Alternatively,
the
market
might
enter
a
consolidation
phase
if
the
price
remains
within
the
current
support
zone
without
a
decisive
move
in
either
direction.
During
consolidation,
the
market
often
reflects
indecision,
as
traders
wait
for
clearer
signals
before
taking
action.
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