Solid Surge In BYTE Crypto Price: What Should Be A Plan Of Action?

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  • The Byte crypto price volatility is very low.
  • The BYTE crypto price is not trading with any fiat currency.

Byte (BYTE) is a meme token blending cryptocurrency and pop culture. It was inspired by Grok, created by xAI, and led by Elon Musk. 

With a zero-tax policy, burned liquidity, and renounced contract ownership, BYTE is community-driven. Its playful, AI-themed nature has earned it a top spot in LunarCrush’s social engagement leaderboards.

Price Overview Chart of BYTE | Source: CoinMarketCap

A huge surge of 385% in the traded volume of the Byte crypto has been recorded in the last 24 hours from press time. This further resulted in a huge liquidity followed by a volume/market cap ratio of 19.64%. 

With a surge in the trading volume, the Byte crypto market cap has also advanced by 30%, which is a very positive sign for the crypto industry. It shows the engagement of traders and investors in the crypto.

The fear and greed index for the BYTE crypto is at 74, which indicates greed among investors. The crypto price is trading 913% above its all-time low price of $0.000001989, which was achieved just six months ago.

Despite the following surge, the price of the crypto is still down by 68% from its all-time high price of $0.00006408 at press time.

The Byte crypto has a total of 8,778 holders, and the top 10% of the crypto holders hold 23.25% of the supply. Analysts have also recorded a surge in the crypto holding addresses. Also, the highest number of addresses are active for BYTE crypto, resulting in a total of 8,579 addresses. 

Some of the most popularly known wallets from where BYTE crypto can be occupied are Trust Wallet, MetaMask, Ledger, and imToken.

BYTE Crypto Technical Analysis

A strong surge in the trading price of BYTE crypto was recorded in the last few days, followed by strong bullish candles that formed on the chart.

BYTE Crypto Daily Price Chart | Source: TradingView

At press time, the BYTE crypto price is trading at a strong change of character level, which is acting as resistance. If the crypto price breaks above the same level and is sustained, a further surge in the crypto trading price might be witnessed.

If we look into the chart in detail, the price of the BYTE crypto has declined by 70% from the swing high of $0.0000650, followed by a strong downtrend. Also, consistent formation of lower low swing can be seen on the charts. 

The following behavior of the price shows that the trend of the crypto price is bearish

BYTE/USD Chart by TradingView

The BYTE crypto price has broken above the 50-day EMA plotted on the daily crypto chart and has also given a closing on the daily chart. It exhibits a bullish character in the trading price of the crypto. 

The BYTE crypto price further has broken above the Bollinger band with strong momentum, which shows bulls’ dominance in the crypto.

The MACD metrics are heading towards the bullish trajectory, followed by bullish histograms formed on the chart. The uncertainty in price might stay intact unless the MACD and the signal line close in the bullish trajectory.

The RSI is following a bullish cycle on the BYTE crypto daily chart. It also broke above the 14-day SMA and was given a closing above the 50-level on the daily chart. That shows the rise of buying momentum in the crypto.

Summary

The BYTE crypto has seen a significant surge in trading volume and market cap, indicating strong investor interest. 

However, despite recent bullish indicators, the overall trend remains bearish, and the price is still well below its all-time high. Uncertainty persists, and further gains depend on sustaining current momentum and breaking resistance levels.

If the rising momentum in the BYTE crypto continues, it might face resistance at the $0.000040 and $0.0000610 levels. Also, the support levels for the crypto on the lower levels are $0.00000510 and $0.00000780.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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