Lumberjack Token Price Prediction: What's Next for the Rally
Lumberjack trades at $0.00004700 with $1.27B 24-hour volume
On July 20th, #LumberJack (LUMBER) made its trading debut, peaking at $0.00005442 yesterday.
Since its low of $0.00001931, $LUMBER has surged over 180% in the past two days, reaching a high of approximately $0.00005442.
The recent price action has formed a bullish flag pattern, characterized by a sharp ascent followed by a period of consolidation.
On the hourly chart, $LUMBER began trading flat, formed a marubozu candle after six hours, then consolidated before creating another bullish candle.
LUMBER surpassed the psychological level of $0.00005000, reaching a new high of $0.00005442.
However, the bulls couldn't sustain this level, and the price dropped back below $0.00005000.
The token is currently in a consolidation phase, poised for its next move.
The RSI is above 80, signaling overbought conditions, while the MACD remains in the positive zone.
According to Coingabbar analysis, A breakout above the $0.00005000 resistance with strong volume could target the next resistance at $0.00010000.
Conversely, If the price fails to sustain above $0.00004500, it may retrace to support levels at $0.00003000 and $0.00001900.
KEY LEVELS :
RESISTANCE LEVEL : $0.00007000-$0.00010000
SUPPORT LEVEL : $0.00003000-$0.00001900
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