The GuildFi token signifies a bullish flag pattern breakout and a sharp bounce from the 50-Day EMA mark was witnessed. The token has jumped from $0.1600 and sharply exceeded $0.2400, the major hurdle and noted a surge over 70% this week hinted at signs of institutional buying. For the past weeks, the token was trading in a consolidation and did not deliver any significant upmove. From the start of 2024, buying activity was noted and the token regained momentum and scratched above the neutral region.
GF token has climbed above the key moving averages and is replicating a bullish crossover on the charts. Furthermore, the token has escaped the make or break region of $0.2500, which trapped the sellers and a short covering move was triggered, which may lift the token toward $0.3000 shortly. Following the market surge, investors carried their interest over the token and a breakout was glimpsed.
The GuildFi token (GF) price was $0.2746 at press time, with an intraday gain of 0.71%, reflecting a breakout on the charts. Moreover, the trading volume increased by 11.80% to $1.30 Million. The pair of GF/BTC is at 0.000000000613 BTC, and the market cap is $144.26 Million. Analysts are bullish and suggest that the token price will continue to extend the gains and may retest the round mark of $0.3000 soon.
GuildFi (GF) On Daily Charts Displays Breakout
On the daily charts, the token has given signs of buyer accumulation and bulls have succeeded in their mission of escaping out the hurdles this week and resembles a bullish outlook. Despite the weak trend, the token managed to gain strength and register a breakout sharply. Per the Fib levels, the token has fled the 50% zone and is heading toward the 61.8% zone.
The Relative Strength Index (RSI) curve stays in the overbought zone and forms a positive divergence on the charts. Similarly, the MACD indicator showcased a bullish crossover and displayed green bars on the histogram suggesting the bull rally on a short-term basis.
GuildFi On Weekly Charts Exhibits Rounding Bottom Pattern Breakout
On the weekly charts, the token has done its correction phase and replicates a rounding shape of recovery resulting in a breakout. Moreover, the token has climbed above the 50-Day EMA mark and is eyeing to reach the 100-Day EMA mark shortly.
Summary
The GuildFi (GF) token registered a massive breakout and witnessed a bullish crossover in the last sessions. The token has climbed above the critical hurdle of $0.2500 and is ready to retest the round mark of $0.3000 shortly.
Technical Levels
Support Levels: $0.2500 and $0.2200
Resistance Levels:$0.3000 and $0.3200
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
Source: https://www.thecoinrepublic.com/2024/02/18/guildfi-gf-token-displays-breakout-can-bulls-retain-0-4000/