- The GORILLA token price delivered a massive return of 154% in the weekly session.
- Moving averages indicated a strong positive signal, while the RSI reflected neutrality.
- The market capitalization of the Gorilla crypto has increased by 1.24%.
Gorilla (GORILLA) is a meme token that aims to revolutionize the crypto world. It creates an investment opportunity that transcends traditional meme tokens by combining viral appeal with substantial utility. The project provides strategic advantages for early investors. It also offers a decentralized exchange swap featuring advanced stop/loss functions to optimize trading experiences.
GORILLA Token Price Witnessed a Return of 147% in the Previous Week
The price of Gorilla gained a lot of attention from investors when it held a value of $0.0021. On January 30, 2024, the price started an impulsive bullish rally, resulting in a breakout of $0.0050 resistance. It surged by over 270% during that rally.
Subsequently, the price reached the $0.0069 supply zone and made a bullish correction on the $0.0034 level. It became a decisional point of interest (POI) for the buyers. The price made another pullback on the $0.0034 POI on February 22, 2024.
Intrigued by that zone, the investors jumped right there in time, resulting in a breakout of $0.0081 crucial resistance. The price has experienced a massive upward move to the $0.0202 resistance level. The bullish rally reflected a return of 475%.
At present, the Gorilla crypto’s price is moving toward that resistance. In addition, the trading volume of the GORILLA token has declined by 17.18% in the last 24 hours. The 24-hour volume is currently ranked 813th among all the 8,957 active cryptocurrencies.
Technical Analysis of the GORILLA Token Price
The GORILLA token price is moving above the 50-day and the 200-day EMAs. It indicates that the price is trading in an uptrend. Both the EMAs had a bullish crossover earlier, which is also an essential factor behind the massive upsurge.
Conversely, the Gorilla price has rapidly moved to the $0.0202 resistance level. It made a bullish correction on the $0.0081 decisional POI. It surged 111% to the $0.0167 resistance level, keeping the current price down.
At press time, the price is taking support from the $0.0123 level. However, it may fall to the $0.0104 level before any upsurge. Conversely, if the price directly closes above the $0.0167 immediate resistance, it may reach the $0.0202 resistance level.
The relative strength index (RSI) is sloping parallel to the spot price chart. The RSI is reflecting a neutral perspective in the current trading phase. RSI is moving at 57.84 below the signal line.
Summary
The Gorilla price is moving in an uptrend. It has a massive bullish push from the buyers at the bullish crossover point of the 50-day and the 200-day EMAs. It resulted in an upsurge of 320% from the crossover point, making it a significant demand zone. The current price can reach the $0.0202 resistance level if it closes above $0.0167.
Technical Levels
- Resistance Levels: $0.0167 and $0.0202
- Support Levels: $0.0123 and $0.0081
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading stocks and crypto comes with a risk of financial loss.