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Everipedia IQ has seen some volatile price movements recently after a long period of consolidation. In the last 24 hours, IQ’s price has shot up as buyers swarmed the market, hoping not to miss out on the rally.
IQ has outperformed the top ten largest cryptocurrencies by market capitalization. The broader crypto market is dull today despite the US Federal Reserve pausing interest rate hikes.
The recent gains by IQ could be attributed to Binance adding a USDT pair for the token.
Binance will be adding an $IQ / $USDT trading pair to replace the previous BUSD pair! #Binance
USDT Tether is the largest and most liquid stablecoin.https://t.co/r1DmvnI6k4
— IQ.wiki (@IQWIKI) September 21, 2023
The new IQ/USDT trading pair will increase the project’s liquidity, allowing it to grow rapidly.
IQ could be set for a steady uptrend with more liquidity as trading volumes increase. In the last 24 hours, IQ has reported trading volumes of $759K, according to DexTools.io.
Can IQ Approach $0.1 Mark Soon?
At the time of writing, IQ was trading at $0.00486. Amid the recent uptrend, IQ shot up to $0.00535 in an apparent liquidity grab before a correction to the downside. A rally towards $0.1 will be confirmed if IQ breaks past $0.00535.
IQ last broke past these levels in early August, with an upswing past $0.00535 being a new monthly high.
IQ was rejected at the resistance of $0.00516 severally. Failure to break these levels appears to have triggered sell orders from profit takers. The price is now holding support at $0.00486.
Once the bears push IQ below this support level, the price will likely plunge toward $0.00462, and a bearish momentum will be confirmed.
Buying Pressure Is Cooling Off
The indicators point towards a trend reversal. IQ’s Relative Strength Index at 54 shows that the token is yet to be overbought despite the recent rally. However, the movement of the RSI line to the downside shows that sellers have entered the market, and the trend could reverse.
The Moving Average Convergence Divergence (MACD) line is on a bullish trend. However, like the RSI line, the MACD line also shows signs of heading lower. Its histogram bulls are a fading green, further proving the analogy of an upcoming reversal.
Wall Street Memes Presale Ends In 4 Days With More Than $25M Raised
The Wall Street Memes presale is in its final stage after raising more than $25 million in less than four months.
The presale ends on September 25, after which WSM will be listed on several Tier-1 exchanges two days after the presale ends.
Early investors have only around four days left to grab WSM tokens at the current price of $0.0337 before the price explodes after listings on exchanges.
Wall Street Memes boasts massive community support, having branched from the Wall Street Bets movement behind the GameStop saga.
The Wall Street Memes project boasts clever branding, among the main reasons WSM has quickly gained traction across the crypto industry.
The project also features a staking protocol where WSM holders can lock up their tokens to secure annual yields of 56%. Over 362 million WSM tokens have been staked so far.
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