Lumberjack Token Price Prediction: Could LUMBER Soar to $1?
Lumberjack trades at $0.00001930 with $2.21B 24-hour volume
In the fast-evolving blockchain gaming sector, Lumber stands out as a new utility token designed to revolutionize the gaming experience.
Biconomy launched LumberJack Game and started trading LUMBER/USDT at 11:30 UTC on July 19, 2024.
The token opened at approximately $0.00001140 and surged to around $0.00002000 within six hours, marking a 75% gain.
After this initial spike, the price has stabilized around $0.00001934.
According to the hourly chart, LUMBER's price is currently above the 20-period SMA, indicating a short-term uptrend.
The RSI is overbought, indicating that the price may need to correct or consolidate before advancing further.
The chart shows a strong upward movement with several large green candles, reflecting strong bullish momentum.
After this rise, the price has settled into a horizontal consolidation phase with smaller candles.
The recent price action seems to have formed a bullish flag pattern, characterized by a sharp rise followed by a period of consolidation.
According to Coingabbar analysis, If the price continues to rise and breaks above $0.00002000, it could move significantly towards $0.00005000.
On the other hand, if profit-taking pushes the price below $0.00001900, it might correct to around $0.00001500, with additional support at $0.00001000.
KEY LEVELS :
RESISTANCE LEVEL : $0.00003000-$0.00005000
SUPPORT LEVEL : $0.00001000-$0.00000500
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
