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- 1 The Myro (MYRO) crypto staged a comeback after bouncing from a positive trendline support.
- 2 MYRO crypto is close to $0.100, registering a significant intraday gain of 5.06%.
The Myro crypto extended its recovery after taking a rebound from a positive trendline support. The price advanced after losing the early morning losses on Thursday. The overall crypto market experienced a new bullish wave and rising volatility.
Bitcoin and Ethereum are continuously pushing themselves to higher levels ahead of Bitcoin halving. The bullish bias in the overall crypto market is triggering momentum in several other coins and the meme coins are at the top of it.
The MYRO crypto is one the meme coins based on Solana. Investor sentiments are mixed, showcasing volatility on the chart. The price is hovering back and forth with the lower boundary as a positive trendline support and upper boundary as a higher supply zone.
If MYRO continues to hover in the range it may suggest the formation of an ascending triangle pattern. On the higher side, $0.103 level is acting as a hurdle for the buyers.
Myro Crypto: Significant Volatility In Recent Sessions
Moreover, the short term price chart shows that MYRO price gained immense popularity in January. The crypto surprised investors and traders with an explosive bullish run that caused a gain of nearly 800% in the first three weeks of January.
However, the price dropped in the later sessions of January and continued to drop in the first two weeks of February, losing most of its gains and indicating a short-term correction phase.
Short-Term Trend Shows Consolidation at the lower levels: Breakout Ahead?
The short-term outlook showcases the addition of buyers near a positive trend line support. However, the price is in a range, leading to the formation of an ascending triangle pattern over the daily chart.
Fresh upside moves may be observed on the charts if the price breaks higher above the upper boundary of the ascending triangle pattern. Any sustained breakout may validate the termination of the correction phase and initiation of a new positive trend.
On the flip side, if the sellers are able to defend the higher boundary of the ascending triangle pattern and the price breaks below the positive trendline support, it may indicate the continuation of the correction phase and MYRO crypto may sink to lower levels.
Myro Price Prediction For March 2024
The most positive outlook of our analysts is the target of $0.13 in the near term if the buyers surpass the hurdle of $0.103 which is the higher boundary of the ascending triangle pattern.
On the other side, the negative outlook of our analysts is that the price could break below the positive trendline support after which the MYRO token price could drop to the lower demand zone of $0.04.
Myro Price Prediction for 2024
The price forecast for 2024 shows that the Myro crypto may advance to a high of $0.199, suggesting a potential of 96% on the higher side. The less optimistic analysts estimate a price target of $0.153 by the end of the year 2024.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
