Samoyedcoin Price Prediction: SAMO Soars 16%, But Analysts Say Consider This Surging Presale For 100X Gains

On Jan 22, 2024

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The Samoyedcoin price is up 16% in the last 24 hours to trade for $0.011314 as of 12:50 a.m. EST time.

It comes as SAMO tries to recover after a prolonged downtrend, with investors responding to a recent roadmap shared by the network on X.

most aren’t rdy for what’s coming this year… 📈
• centralized exchange listings
• massive marketing campaigns
• strategic partnerships
• new integrations & tools
• additional ways to spend $SAMO
• airdrops
• phase 2…
now is the time to get ready, famooooo 🚀 pic.twitter.com/Tt6lxDzASP
— Samoyedcoin (SAMO) (@samoyedcoin) January 21, 2024

Based on the outlook of the Relative Strength Index (RSI), the Samoyedcoin price could record more losses over the coming days. Potentially, it could go as low as testing the critical support at $0.010685 as the RSI hints at falling momentum.

If the RSI continues south, it could soon record a bearish crossover with the signal line (yellow band). The RSI crossing below this band is interpreted as a sell signal, while a cross above is taken as a buy signal.

It comes amid growing overhead pressure, indicated by the confluence of resistance between the 50- and 200-day Simple Moving Averages (SMAs) at $0.012696 and $0.012787 levels respectively. The 100-day SMA is also southbound, suggesting the south was the path with the least resistance.

With both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) indicators in negative territory, the bears have the upper hand. The dire case could see the Samoyedcoin price extend the fall, flipping the critical support into resistance before extending a leg to the $0.005000 psychological level.

TradingView: SAMO/USDT 8-hour chart

Converse Case

On the flipside, there is the chance that the Samoyedcoin price could find inflection around the critical support at $0.010685 level. This has happened four times already in 2024 as investors seized the opportunity to buy the dip.

This could see the Samoyedcoin price clear the resistance confluence between the 50- and 200-day SMAs before confronting the 100-day SMA at $0.014174. A break above this supplier congestion level could see the SAMO price contend against the supply zone, extending between $0.017100 and $0.019380.

To confirm the continuation of the uptrend, however, the Samoyedcoin price must record a candlestick close above the midline of the supply zone at $0.018276 on the 8-hour timeframe. In a highly bullish case, the price could extend the gains, flipping this supply zone into a bullish breaker before targeting the next supply zone between $0.023356 and $0.026900. Again, breaking and closing above the midline of this order block at $0.025193 on the 8-hour timeframe would confirm the continuation of the trend.

Meanwhile, analysts are calling investors’ attention to Sponge V2, a strong contender in the meme coin space with some saying it has the potential to 100X on launch.