The GOAT price has soared 214.29% in a month, recently reaching the $1 billion market cap and securing its place as the 10th largest coin. He now sits just ahead of MOG, which is lagging behind in its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about its ability to sustain its rally or face a potential correction.
GOAT BBtrend is negative for the first time in 4 days
GOAT BBTrend turned negative for the first time since November 17, now sitting at -0.54. This change suggests that bearish momentum is starting to set in, with the asset’s recent upward trajectory potentially beginning to weaken.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an upward trend and negative values signaling a downward trend. A negative BBT trend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, BBT’s current negative trend, if it persists and deepens, could signal the potential for further bearish momentum.
GOAT is in a neutral zone
Goats ROI fell to 52, from more than 70 a few days ago, when it reached its all-time high. This decline indicates that the buying momentum has calmed down and the market has moved out of the overbought zone.
This decline suggests a shift toward more neutral sentiment as traders consolidate gains and the strong upward pressure seen previously eases.
The RSI measures the strength and speed of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, signaling neither strong bullish nor bearish momentum.
This could mean that the current uptrend is losing strength and the price could consolidate or move sideways unless fresh buying pressure reignites the bullish momentum.
GOAT Price Prediction: Further Rise to $1.50?
If GOAT the current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market capitalization above $1 billion, a fundamental threshold to be among the biggest meme coins on the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as indicators like RSI and BBTrend show, the the uptrend could run out of steam. If a downward trend appears, GOAT Price could test its closest support zones at $0.80 and $0.69.
If these levels fail to hold, the price could fall further, potentially reaching $0.419, placing its position within the top 10 largest companies. coins in danger.
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