Myro Price Prediction: MYRO Bounces Back With 15% Surge, But Analysts Say This Presale Is Among The Best Meme Coins To Buy Now

On Jan 17, 2024

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The Myro price has soared 15% in the last 24 hours to trade at $0.147 as of 07:50 p.m. EST, with trading volume plunging 73% to $32 million.

Myro Price Faces Resistance At $0.18 Supply Zone

MYROUSDT Chart Analysis. Source: Tradingview.com

Despite a prolonged struggle, the robust support zone and a double-bottom pattern empowered the bulls, enabling the price to soar beyond expectations. The double-bottom pattern serves as a signal for traders to shift their buying trend.

Despite its resilience in driving the price up, the Myro price is lingering below the $0.18 supply zone. The upper boundary of the accumulation stage initially provided an excellent entry opportunity for bullish investors, propelling the price higher and reaching the $0.18 supply zone. However, at this point, the bulls encountered resistance, leading to a downturn in the price.

Myro Price Indicators Remain Bullish, Bulls Aim For $0.3 Mark

The current price indicators remain bullish, indicating positive short-to-medium-term momentum as the price trades above the 50-day Simple Moving Average (SMA). A sustained bullish trend could see the price overcome the 200-day SMA hurdle, strengthening the long-term bullish sentiment.

The Relative Strength Index (RSI) trades above the 70 overbought level at 73, indicating intense buying pressure.

Driven by the breakout from the double-bottom pattern, the bulls aim for a potential climb towards the $0.3 mark.

However, if the supply zone at $0.18 remains resilient, the bears may sustain the corrective phase, forcing the bulls to retreat to the protective support zone at $0.092.

As Myro traders wait for a signal to add more positions, analysts say Sponge V2 is among the best presale coins to buy now.

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