Panda Swap Price Prediction: PANDA Goes Ballistic With 33% Pump As Traders Pivot To This Multi-Chain Dogecoin Derivative With 100X Potential

Panda Swap Price Surges 33%

As of 11:54 p.m. EST, the Panda Swap price has surged 33% in the last 24 hours, trading at $0.01245. This increase comes despite a 64% drop in trading volume to $1.2 million.

Exchange Listing and Growing Attention

This price hike follows Panda Swap's first exchange listing on MEXC, which has garnered significant attention in the crypto community. The token's bullish momentum is attributed to its recent listing and growing popularity.

Panda Swap Price Analysis

The Panda Swap price has been on a downtrend since the beginning of April, reaching a support level of $0.0070. Bulls drove the price towards the $0.0160 resistance, but bears pushed it back to a retrace at $0.010.

News of the exchange listing sparked a 53% surge to $0.019, followed by a downward trend. Bulls retreated to the $0.00848 support zone before finding stable support and pushing the price back to $0.01269.

Bullish Indicators

PANDA is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), indicating an upward trend. The Relative Strength Index (RSI) is also trending upwards towards the 70-overbought region, currently at 63, showing more buying action than selling.

MACD and Death Cross

Readings from the Moving Average Convergence Divergence (MACD) show a strong bullish trend, with the blue MACD line crossing over the orange signal line. However, the 50-day SMA trades below the 200-day SMA, forming a death cross at $0.01043. This could indicate a bearish move on the 1-hour chart, potentially driving the price down to the next support zone around $0.0090.

Dogeverse Presale

Amidst Panda Swap's price surge, investors are also piling into $DOGEVERSE, a Dogecoin derivative that analysts believe has the potential to soar 100X after launch. Dogeverse has raised over $12.5 million in three weeks and offers dynamic range staking with an 89% annual percentage yield.

Related News

Source: https://thebittimes.com/panda-swap-price-prediction-panda-goes-ballistic-with-33-pump-as-traders-pivot-to-this-multi-chain-dogecoin-derivative-with-100x-potential-tbt86986.html