$GIGGLE Strong downward trend: the price has dropped by 10.5% to $68.63, trading below the major moving averages (EMAs). The bearish Relative Strength Index (RSI) (35.9) confirms strong selling pressure.
Biological support test: the currency is testing the critical support zone between $65 and $70 within a descending wedge pattern, indicating the possibility of a rebound.
The liquidation risk is high: the long/short ratio is very high, indicating a buildup of long positions, creating a risk of liquidation amid the prevailing fear in the market (Indicator: 26).
Charity initiative: trading activity supports a humanitarian cause, with 50% of trading fees $GIGGLE donated to charities supporting children's education.
Downward trend and high risks
The price is at $68.63, below key moving averages.
The bearish Relative Strength Index (RSI) (35.9) and negative MACD confirm weakness.
Accumulated long positions pose a significant liquidation risk.
At a technical crossroads
GIGGLE tests vital support at $70 within a descending wedge pattern, hinting at a potential rebound.
A decline in the momentum of memecoin-type currencies and the state of fear in the market pose significant resistance to recovery. 🔗
Trading GIGGLE to support charitable work
The Binance platform supports a community initiative by donating 50% of GIGGLE trading fees to children's education.
Trading this currency automatically contributes to this initiative.
Key levels to watch
A rebound from the support level of $65-70 may provide a short-term opportunity.
Breaking this support may target the level of $47.30
