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Is It Too Late To Buy HAPPY? HappyCat Price Soars 184%

Is It Too Late To Buy HAPPY? HappyCat Price Soars 184%

InsidebitcoinInsidebitcoin2024/11/11 11:44
By:Insidebitcoin
 

The HappyCat price soared over 184% in the last 24 hours to trade at $0.01385 as of 4:29 a.m. EST as investors FOMO buy the meme coin .

HappyCat Price Attempting To Form A New Support

The HappyCat price has been in a strong positive sequence in the last few hours, and was able to briefly break above the resistance level at $0.01579 during this period. Traders, however, were quick to take profit and subsequently pushed the meme coin’s price to back below this barrier.

Is It Too Late To Buy HAPPY? HappyCat Price Soars 184% image 0

1-hour chart for HAPPY/USD (Source: GeckoTerminal )

The HappyCat price is now attempting to establish a position above the $0.01108 mark. Staying higher than this price point for the next 4 hours could give the crypto the technical foundation needed to resume its bullish move. HAPPY could then end up flipping the next resistance at $0.01347 before potentially attempting another challenge at the $0.01579 barrier.

A drop below $0.01108 in the coming few hours could mark the end of the HappyCat price’s rally. Sellers might start to take control in this alternative scenario, which may lead to a correction to the $0.00876 support in the short term.

Buyers Still In Control Of The HappyCat Price

A bullish scenario seems to be more likely to play out in the next few hours, with indicators on the meme coin’s hourly chart suggesting buyers still have a tight grip on the HappyCat price. In addition to Exponential Moving Averages (EMAs) flashing bullish, the Relative Strength Index (RSI) also points to a continued increase for HAPPY.

During the past day of trading, the 9 EMA crossed above the 20 EMA to trigger a popular bullish technical flag. Traders acted on this signal, pushing the HappyCat price in the hours that followed this crossover. 

Now, the 9 EMA is still positioned bullishly above the 20 EMA, with the gap between the two lines growing to indicate that HAPPY’s bullish momentum shows no signs of slowing down just yet.

RSI readings have also soared from the low 50s to above 80 in the last 24 hours. Traders usually see high RSI readings as an indication of bullish strength. Given the positive slope of the RSI line, it seems that bulls are still growing stronger against their bearish counterparts. Buyers might subsequently push the HappyCat price higher in the coming 24 hours.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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