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- MICHI price crossed the 20-day EMA which showcases the bullish momentum.
- MICHI witnessed a massive gain of 100% in the last 2 days.
Since June, the MICHI crypto price managed to defend the last-swing lows and showed slow and steady gains. It gained bullish momentum in the higher low zone, which could be a bullish sign.
Michi crypto was being traded at $0.196 at press time, which is up by 30% in the past 24 hours. The market capitalization was $109.17 Million and the 24-hour trading volume was $24.42 Million.
Are Bulls Eyeing the $4 Hurdle?
$MICHI definitely going to hit $3.50 – $4.00 but will it break out further? pic.twitter.com/CWIz50YXoI
— Lakshay ️ (@Lakshaygmi) August 7, 2024
A source on X claims that the MICHI crypto price is expected to knock the $4 mark. The price has been struggling to exceed the $0.300 hurdle for the past few weeks. If the price manages to overcome this hurdle, the buyers may lift the price to $3.50 and $4.00 levels.
Could MICHI Price Gain 100% in One Go?
$michi has one of the easiest charts to read
— Chuma (@chuma) August 7, 2024
i do think the chart will look like this (as long as global markets do not nuke).
will come back to tweet in the future pic.twitter.com/z0aNJyTgeR
Based on a source on X, the MICHI price has defended the last swing low and has set a target for a bullish move of around 100%. Historically, the Michi price has gained more than 100% after the recovery from this zone. Buyers have the same expectation for this ahead.
Technical Analysis of MICHI Price Over Daily Timeframe
MICHI price has been rising by defending the last swing lows and currently the price is wandering in the higher low territory. If the crypto asset price manages to surpass the 20-day EMA, buyers may become confident.
If the trading volume increases at the time of exceeding the 20-day EMA, it may boost the buying momentum. The price may easily reach the last swing high if the buyers remain strong.
On the other hand, if the digital asset price slips below the $0.100 hurdle, sellers may dominate further. It might be difficult for the buyers of bounce back from this level.
Turning to the technical indicators, the MICHI dropped to the Lower Bollinger Band (BB) and formed a base. The price is heading for the Base BB and eye for the Upper BB.
MICHI Price Overview
The MICHI price has remained in the consolidation phase since May. It has shown slow and steady growth every time, the price has defended the last swing lows. Based on a source on X, the crypto asset price is expected to gain around 100%. At press time, the price exceeded the 20-day EMA and is eyeing a massive gain. Below the $0.100 hurdle, the price may witness strong selling pressure.
The MICHI price is expected to face resistance from the $0.350 and $0.500 levels. The price may take support at the $0.080 and $0.140 mark.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
