Samoyedcoin Price Prediction: SAMO Soars 16%, But Analysts Say They Consider This Soaring Pre-Sale for 100x Profits.

adminJanuary 22, 2024

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Samoyedcoin price is up 16% in the last 24 hours, trading at $0.011314 as of 12:50 AM ET.

This comes as SAMO attempts to recover after a long-term downward trend, with investors reacting to the latest roadmap shared by the X Network.

Most are not reacting to what is coming this year… 📈
• Centralized exchange listings
• Large-scale marketing campaigns
• Strategic partnerships
• New integrations and tools
• How to spend more $10,000
• Airdrop
• Step 2…
It’s time to get ready, famooooo 🚀 pic.twitter.com/Tt6lxDzASP
— Samoyed Coin (SAMO) (@samoyedcoin) January 21, 2024

According to the outlook of the Relative Strength Index (RSI), the Samoyedcoin price may record further losses in the future. With the RSI hinting at a drop in momentum, it could potentially move lower to a level testing the important support at $0.010685.

If the RSI continues south, it could soon hit a bearish crossover with the signal line (yellow band). An RSI crossing below this band is interpreted as a sell signal, while a crossing above it is considered a buy signal.

This comes amidst growing indirect pressure, seen as the 50-day SMA and 200-day SMA converging at the $0.012696 and $0.012787 levels, respectively. The 100-day SMA is also southward, indicating that the south is the path of least resistance.

Bears have the upper hand as both the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) indicators are in negative territory. In a serious situation, the price of Samoyedcoin may continue its downtrend, turning important support levels into resistance levels before extending the leg towards the $0.005000 psychological level.

Samoyed Coin

TradingView: SAMO/USDT 8-hour chart

converse case

On the other hand, there is a possibility that the Samoyedcoin price will find an inflection point around the important support line at the $0.010685 level. This has already happened four times in 2024 as investors seized the opportunity to buy the dip.

This will see Samoyedcoin price clearing the resistance confluence between the 50-day SMA and 200-day SMA before facing the 100-day SMA at $0.014174. Beyond this level of supplier congestion, we will see SAMO price competing with the supply zone, expanding between $0.017100 and $0.019380.

However, to confirm the continuation of the uptrend, Samoyedcoin price needs to record a candlestick close of $0.018276 above the midline of the supply area for 8 hours. If very bullish, the price could turn this supply zone into a bullish breaker before targeting the next supply zone between $0.023356 and $0.026900 to extend profits. Once again, the continuation of the trend is confirmed by breaking and closing the $0.025193 midline of this 8-hour order block.

Meanwhile, analysts are generating investor interest in Sponge V2, a strong contender in the meme coin space that some say has 100x the potential at launch.