Bitcoin Price Nears $100K as MSTR Falls 15%, STARS Pumps

bitcoin price rose 1% in the last 24 hours to trade at $99,215 at 02:42 am EST, with trading volume increasing 12% to $113.7 billion.

This comes after bitcoin hit a new all-time high of $99,486, with technical indicators showing a possible continuation of the rally to cross the $100,000 mark.

Despite the rally, MicroStrategy Inc (MSTR) shares fell 15% to $397 after Citron Research said it is betting against the software company because it is overvalued.

bitcoin price will maintain its current upward trend

The price of bitcoin has been on a sustained bullish trend, with higher lows and higher highs resembling climbing a mountain. According to data from <a target="_blank" href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>Terminal GeckoSupport levels around $60,000 and $70,000 have allowed bitcoin price to trend within the ascending channel pattern.

btc is now trading well above the 50- and 200-day simple moving averages (SMA), supporting the bullish price outlook. The 50-day SMA crossed above the 200-day SMA around $65,000, forming a golden cross within this level, further supporting the bullish sentiment.

The Relative Strength Index (RSI) also surpassed the overbought region of 70, currently at 71, which is an indication that the asset is currently under intense buying pressure.

Furthermore, the Moving Average Convergence Divergence (MACD) confirms the bullish stance as the blue MACD line has now crossed above the orange signal line, showing a bullish crossover.

If btc price maintains this momentum, bulls could push the token further as they target the next possible resistance zone at $105,000.

However, the RSI now shows that btc is oversold and overextended, a sign of an incoming correction. In this scenario, bitcoin price could fall, with the 50-day and 200-day SMA acting as the next possible support levels at $91,764 and $77,235, respectively.

As the price of bitcoin soars, investors are also piling into a new meme coin called crypto All-Starswhich ClayBro, a popular crypto YouTuber with over 130,000 subscribers, says could grow 10-fold after launch.

crypto All-Stars pre-sale ends in 27 days

crypto All-Stars has raised more than $5 million as investors flock to the innovative project before its pre-sale closes in about 27 days.

Its MemeVault protocol offers investors the opportunity to stake multiple meme coins on a single platform for the first time.

Dogecoin, Shiba Inu, PepeCoin, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu and Bonk can be staked on the platform at launch, and the team plans to add more meme coin titans in the coming years. weeks. .

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.951612903226″>

Why is everyone excited?

In its initial pre-sale phase, crypto All-Stars raised over $350K!

This initial success shows that investors see BIG potential here.

Could this be next? <a target="_blank" href="https://twitter.com/search?q=%24PEPE&src=ctag&ref_src=twsrc%5Etfw”>$PEPE?

— web3telepath (@web3telepath) <a target="_blank" href="https://twitter.com/web3telepath/status/1824051738833260654?ref_src=twsrc%5Etfw”>August 15, 2024

You can also earn passively through the project's native staking mechanism, which offers an impressive 366% Annual Percentage Yield (APY) on staked STARS tokens.

Can buy STARS tokens now for $0.0015997 each from the official website here using BNB, USDT or a bank card.

Related news

Most Wanted crypto Launch: Pepe Unchained

• Layer 2 Meme Coin Ecosystem
• Featured on Cointelegraph
• SolidProof and Coinsult audited
• Staking Rewards – pepeunchained.com
• More than $40 million raised in ICO – December ends