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Simon’s Cat Price Spikes 17% in 24 Hours; Trading Volume Leaps 42%

CAT surged 17% to $0.00002781 on Sept 8. With a 42% volume increase, the token shows strong bullish signals

2 min 30 sec September 8, 2024September 8, 2024

Highlights:

Simon’s Cat (CAT) rose 17% to $0.00002781 on September 8.

Trading volume spiked 42% to $87 million, attracting significant interest.

Technical indicators suggest potential breakout. Key support at $0.00002200.

Simon’s Cat Price Spikes 17% in 24 Hours; Trading Volume Leaps 42%

Simon’s Cat (CAT) experienced an impressive 17% price surge on September 8. As of 6:45 p.m. EST, the token was trading at $0.00002781. 

 

This surge was accompanied by a 42% spike in trading volume, rising to $87 million. This stellar performance attracted significant attention from traders and investors.

 

Simon’s Cat Price Breaks Above The Consolidation Zone

 

CAT is in a volatile uptrend, marked by a sharp upward curve. The price is holding steady at $0.00002781. 

 

A key support level has formed around $0.00002200. Following this stellar performance, $CAT became the top-traded cat coin on OKX in 24-hour volume, as the post below highlights.

 

 

GeckoTerminal data indicated a strong rally, with the price initially spiking before retracing to the 50-day SMA, at $0.00002598. This level now serves as dynamic support. 

 

The Moving Average Convergence Divergence (MACD) showed a slight bearish divergence, with the MACD line falling below the signal line but remaining above the neutral level. This suggests potential short-term correction, though the rising histogram bars hint at a possible return to bullish momentum.

 

Simon’s Cat Price Poised For Breakout

 

$CAT seems ready for a potential breakout. If the price can stay above the 50-day SMA and break through the immediate resistance around $0.00003400, further gains could follow. 

 

On the flip side, if the price falls below the 50-day SMA, it might face increased selling pressure. This could push the price back to test the critical support level at $0.00002200. 

 

The MACD’s bearish divergence adds to the caution, suggesting that a deeper pullback could be possible if negative momentum grows. The current support levels offer a favorable risk-reward ratio, but close attention is needed as mixed signals persist in the market.

 

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