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The Slothana price soared 83% in the past week, despite being down 3% in the last 24 hours to trade at $0.00839 as of 11:42 p.m. EST on trading volume that plunged 21% to $1.8 million.
Slothana Price Aims For A Sustained Rally
The SLOTH/USD chart shows a recent bullish breakout after a prolonged sideways consolidation phase, as the Slothana price found support around the $0.0050 level, according to data from GeckoTerminal .
The sharp upward movement is followed by a retracement into a channel, suggesting the asset is potentially consolidating its gains for the next move.
Meanwhile, the price of Slothana now trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a sign that SLOTH is on a sustained bullish trend.
The Relative Strength Index (RSI) is in the mid-range, neither overbought nor oversold. This suggests that the market is in a phase of equilibrium after the strong rally. A break above 60 could signal renewed bullish momentum, while a drop below 40 may indicate bearish pressure.
The current channel often acts as a bullish continuation pattern, meaning the price could potentially break to the upside if volume supports it. In this scenario, the price of Slothana could soar even higher, as the bulls target $0.010.
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