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- BIGTIME’s support at $0.141 signals investor confidence amid price volatility.
- Bullish momentum at $0.158 may attract more buyers for Big Time.
- Despite lower trading volume, BIGTIME’s market cap remains optimistic.
Despite a negative attempt to plummet the Big Time (BIGTIME) market, support at the intra-day low of $0.141 remained firm, resulting in a price bounce. This support level shows substantial purchasing demand at this price point, indicating that investors believe in BIGTIME’s future.
The ensuing rebound recovered the price to $0.158, illustrating the market’s durability and likely luring additional buyers to participate at greater levels. If this bullish momentum breaks over the $0.158 barrier, the next level to monitor is $0.165.
If the price retraces from the $0.158 resistance level, it may find support at the prior resistance-turned-support level of $0.150. This consolidation period may allow purchasers to buy up before another possible advance. BIGTIME was trading at $0.1518 as of press time, up 2.93% from the intraday low.
BIGTIME’s market capitalization increased by 3.33% to $22,698,323, but its 24-hour trading volume decreased by 36.21% to $42,085,289 during the rally. This drop in trading volume might be related to profit-taking by investors after the recent price spike. However, as seen by the growth in market value, general market sentiment remains optimistic.
BIGTIME/USD 24-hour price chart (source: CoinStats)
On the BIGTIME/USD price chart, the Keltner Channel bands move downwards, with the upper, middle, and lower bands at $0.19819, $0.16787, and $0.13754, indicating that the price of BIGTIME/USD is now in a downtrend. However, bullish momentum may be developing with the price action having recovered off the lower range, signaling a possible reversal soon.
The Rate of Change (ROC) rating of -4.74 additionally indicates that the price of BIGTIME/USD has been falling rapidly. This negative ROC rating lends credence to the market’s decline. However, if the ROC rises above zero and begins to rise, it might indicate a change in momentum and a potential rally.
BIGTIME/USD 4-hour price chart (source: TradingView)
However, the movement of the Relative Strength Index (RSI) above the signal line with a rating of 41.19 shows that selling pressure may be easing and the price of BIGTIMEUSD may be stabilizing or beginning to increase. If the RSI remains above 50, it may indicate an increase in buying pressure and a probable bullish trend.
The Relative Vigor Index (RVGI) grade of -0.0426 and upward pointing support the hypothesis of a prospective upswing. The RVGI evaluates the strength of price fluctuations, and a positive result shows that momentum is growing. If the RVGI continues to grow and surpass zero, it might corroborate the probability of a positive future trend for BIGTIME/USD.
BIGTIME/USD 4-hour price chart (source: TradingView)
In conclusion, despite recent challenges, BIGTIME displays resilience, supported by a firm base at $0.141. As it bounces back to $0.158, the potential for further gains is evident.
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