As global Cryptocurrency market activity slows, liquidations reached $285.48 million in the past 24 hours, affecting 97,882 traders. However, contrary to the general downtrend, some altcoins have broken out, reaching new highs today.
TinTucBitcoin has identified three Crypto Tokens that reached new highs today, with Dolos the Bully (BULLY) leading the way.
Dolos the Bully (BULLY)
Solana platform meme cryptocurrency Dolos the Bully (BULLY) reached a new record high today. This meme coin once traded at its highest level of 0.23 USD before turning around. At the time of writing, BULLY is trading at $0.20 and maintains a strong bullish trend.
Indicators from Super Trend, evaluated on an hourly time frame, confirm this. As of now, BULLY’s price is above the green line of this indicator.
The Super Trend indicator measures the direction and strength of an asset’s price trend. It is displayed as a line on the price chart, with red indicating a downtrend and green indicating an uptrend. When the Super Trend line is below the asset price, this confirms an uptrend, suggesting that bullish momentum is likely to continue.
If this uptrend continues, BULLY’s price could reach its all-time high again. However, if a Token sell-off occurs, the price of this Meme Coin could drop below 0.19 USD.
Parallel AI (PAI)
PAI is currently trading at $0.52. It peaked at $0.60 today and has seen a 14% drop. Even so, a recovery is possible as increased buying pressure is growing stronger. PAI’s Aroon indicator assessment reinforces this bullish outlook. PAI’s Aroon Up line is at 100% as of now.
The Aroon indicator determines the strength and direction of an asset’s price trend by measuring the time since the asset’s highest peak (Aroon Up) and lowest low (Aroon Down) over a given period of time. When the Aroon Up line is at 100%, this signals that a new high has just been reached, pointing to strong bullish momentum and a possible continuation of the uptrend.
If PAI sees an increase in buying pressure, its price will return to its peak and attempt to break through. On the contrary, if selling activity increases, the Token price may decrease to 0.50 USD. If buying fails to hold this level, the value of PAI could fall further to $0.43.
Stonks (STNK)
STNK peaked at $347.06 today but is down 26%, trading at $263.67 year-to-date. This decline is believed to be due to increased profit-taking activities, creating selling pressure to lower prices.
Analysis using the Fibonacci Retracement tool on the hourly chart shows that STNK broke the support at 268.01 USD, indicating a strengthening downtrend. If there is no new demand in the market, the price could drop to $219.10.
On the contrary, if buying pressure increases, STNK may attempt to break out above 268.01 USD, potentially returning to the highest peak.