Is DADDY Crypto Prepping for a Surge to a New All-Time High?

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The Daddy crypto price has surged over 7% in the past week to trade at $0.2542 at press time.

However, the DADDY price recorded a slight loss throughout the past day of trading. Nevertheless, the meme coin remains in the green on the longer time frames.

The DADDY Crypto Stuck in Consolidation

The Daddy Tate price has been in a consolidation phase between $0.1856 and $0.3256 over the past 48 hours. This might be an accumulation period before a strong move.

Also read: Pepe Price Might Break Major Barrier as Bullish Signs Emerge

If DADDY breaks out to the upside, it might attempt to flip the $0.3256 resistance level into support. The crypto could then have the technical foundation needed to rise to the subsequent barrier at $0.4980 before possibly soaring to a new all-time high.

On the other hand, the Daddy Tate price falling below the $0.1856 support might expose the meme coin to the risk of plummeting in the following 24 hours. In this scenario, DADDY could plunge to as low as $0.0345.

Technicals Showing Promising Bullish Signs

Technical indicators on DADDY’s hourly chart suggest the Daddy Tate price might rise in the next couple of hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing positive signs.

Also read: Technicals Show the Super Trump Price May Soar to $0.019845

Major bullish technical flags were also triggered by both indicators. Firstly, the RSI crossed above its Simple Moving Average (SMA) line. Traders generally see this as a sign that buyers have gained the upper hand against sellers. As a result, it could be easier for bulls to push DADDY higher in the next few hours than it will be for bears to drag it down.

Meanwhile, the MACD line recently crossed above the MACD Signal line, which might indicate that the meme coin has entered into a short-term bullish phase. If both of these technical flags are validated, the Daddy Tate price could explode soon.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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