GIGGLE has decreased by 71% since November and is approaching the lower boundary of the descending wedge; the oversold state along with compressed momentum could create a short-term pivot if buying pressure returns.
The psychology of memecoins weakens as liquidity shifts to large caps. Increased volume during the downturn indicates traders are cutting risk, making GIGGLE prone to strong fluctuations around the support area.
MAIN CONTENT
GIGGLE is in an oversold descending wedge; holding 70 USD is crucial, losing it will open up 47.30 USD.
Must surpass 160–172 USD to regain higher ground; the current rebound is largely technical.
Weak macro sentiment: Fear & Greed 29/100, BTC dominance 58.6%, capital is leaving memecoin.
GIGGLE is in an oversold descending wedge region
GIGGLE has dropped 71% since November and is touching the lower edge of the descending wedge, a signal that often accompanies short rebounds if demand appears.
At the time of observation, volume increased while price decreased, indicating sellers are in control. GIGGLE previously tested the upper edge of the descending wedge but failed to regain momentum, then returned to touch the lower edge, an area that previously triggered strong rebounds in earlier cycles.
RSI falls into the strongly oversold zone, indicating momentum has been washed out. This structure often precedes recovery attempts if buyers react strongly enough around support.
Source: TradingView
The 70 USD mark is crucial
The main risk area is around 70 USD. Losing this level will expose support at 47.30 USD, overlapping with the area that previously absorbed liquidity and is the historical reaction line of the wedge.
Lack of support cushion increases volatility
The support gap between 70 USD and 47.30 USD increases the risk of volatility sweeps before the price finds a sustainable equilibrium.
Resistance at 160–172 USD determines the higher trend
Only when decisively surpassing 160–172 USD, GIGGLE will have the opportunity to regain higher price regions; prior to that, the rebound is mainly corrective.
Until it breaks through this resistance zone, the bullish structure has not been confirmed. GIGGLE also needs to hold the ascending support line on the daily chart; if it breaks, the pattern will reflect a failed wedge and extend the decline.
Weak macro sentiment hinders memecoins
BTC and ETH weaken ahead of the Fed decision; Fear & Greed at 29/100, BTC dominance 58.6% causes capital to prioritize less risky assets, putting pressure on memecoins.
The entire sector is witnessing a rotation of capital away from memes as Funding Rates are compressed and liquidity is thin. With GIGGLE, the volume spikes during the downtrend indicate forced liquidations rather than active accumulation.
Source: CoinGlass
As long as sentiment does not improve in the meme group, GIGGLE's recovery margin will remain limited even though short-term technical signals have emerged.
Conclusion: Recovery setup exists but lacks confirmation
GIGGLE is in a position that could technically rebound due to being oversold and touching the wedge boundary, but it needs to hold 70 USD and soon surpass 160–172 USD to confirm the bullish trend.
Frequently Asked Questions
What price level does GIGGLE need to hold to avoid a deep decline?
70 USD is a key level. If it loses 70 USD, the price may slide down to 47.30 USD, where it overlaps with the previous liquidity absorption area and the historical reaction line of the wedge.
When will GIGGLE's bullish trend be confirmed?
When the price breaks and holds above 160–172 USD with improved volume. Previously, the upward movements were only seen as technical rebounds in a downtrend.
What macro factors are putting pressure on memecoins?
BTC and ETH weaken ahead of the Fed decision, Fear & Greed at 29/100, BTC dominance 58.6%, Funding Rates compressed and thin liquidity causing capital to leave memecoins.
Source: https://tintucbitcoin.com/gia-giggle-sap-bat-tang-chi-khi/
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