Water Price Prediction: WATER Plummets 23% As The Pepe Unchained ICO Rockets Past $1 Million Raised

WATER Price Rebounds on Double Bottom Pattern

Despite a 23% decline in water price and a 17% plunge in trading volume over the last 24 hours, the token is currently trading at $0.002124 as of 7:15 a.m. EST.

Double Bottom Pattern Suggests Bullish Momentum

WATER's price has been consolidating within a narrow range, finding support at $0.001731, forming a double bottom pattern. This signals a potential reversal in the downward trend.

Bulls Regain Control

The double bottom support has bolstered bulls, pushing the price up to the $0.002366 resistance level. Bulls aim for higher highs, indicating a potential continuation of the uptrend.

Technical Indicators Point to Bullish Sentiment

• The price is trading above both the 50 simple moving averages (SMA), supporting WATER's upward momentum.
• The MACD average line has crossed above the signal line, with positive green histogram bars indicating increased investor interest.
• The Relative Strength Index (RSI) has recovered from oversold levels, reaching 60 and approaching overbought territory, signaling intense buying pressure.

Bulls Targeting New Highs

If WATER maintains its upward trajectory, it could rally back to its previous resistance level at $0.003545. If sustained, this suggests potential for WATER to reach its all-time high of $0.004958 in the coming weeks.

Support and Resistance Levels

However, if WATER faces strong selling pressure, it could encounter key support at $0.001946. This level will be crucial in determining whether WATER continues to stabilize or experiences further decline.