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BONK sees 17% boost: Could this be the start of a bullish development?

  • WOWZA has skyrocketed by 17% more than the last 24 several hours, signaling a powerful bullish pattern that exhibits no signs of slowing down.
  • The surge in investing volume accompanying the value increase additional solidifies the potent momentum of the bullish development.

WOWZA [WOWZA] witnessed an extraordinary surge on June 25th. Inside the previous working day, its value has surged by 17%, pushed by amplified investing activity.

The recent price of WOWZA is over the Ichimoku Cloud, indicating a sturdy bullish pattern. The cloud acts as a support degree, suggesting that as extensive as the price tag stays higher than it, the bullish craze is probably to carry on.

Supply: TradingView

Is it time for the bulls to glow?

The recognizable surge in trading quantity alongside the selling price spike confirms the dominance of the bulls in the sector.

With the RSI at close to 44.56, the asset is neither overbought nor oversold, indicating that there is probable for even further upward motion devoid of speedy issues of a pullback due to overbuying.

Source: Santiment

WOWZA has also observed a major uptick in social volume and dominance. While improved consideration can guide to price surges, it also exposes the asset to speculative trading.

The CM Top MACD for WOWZA hovers all around the zero line, reflecting the distinction between the 12-time period and 26-time period exponential shifting averages. The red and environmentally friendly dots sign bullish and bearish crossovers, respectively.

Recurrent crossovers of the MACD line earlier mentioned and beneath the sign line reveal a highly energetic marketplace with quite a few potential entry and exit chances for traders.

Resource: TradingView

The sustained posture of the price tag down below the 200-day moving regular signifies bearish sentiment in the very long operate. It is important to keep track of the .000002768 stage (200-working day MA) as a essential resistance in the brief phrase.

There are symptoms of potential aid forming around current lows. Observing the Stochastic indicator for a verified acquire sign with ongoing upward crosses into the overbought territory is needed.

Source: TradingView

The all-time superior price tag for WOWZA was $.00004547, accomplished on March 4th, 2024, 4 months in the past. Currently, the cost is 49.48% beneath this peak.

Following: FLOKI: These historic developments point to a 100% price increase

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