StarGate Finance price rises 68% on Upbit listing news as traders rush to buy this Dogecoin derivative before time runs out.

StarGate Finance price has surged 68% in the last 24 hours. Traded at $0.8506 As of 7:10 a.m. EST, trading volume had increased 4,806% to $739 million.

This explosive growth was sparked by the news that Korea’s largest cryptocurrency exchange, Upbit, was listing STG.

Upbit also clarified that STG deposits must be made through the Ethereum network and warned users not to transfer from other blockchains. STG transactions are possible in Korean Won (KRW).

StarGate Finance price reached $0.8841 resistance after strong bullish support.

STG price formed a sharp candle, pushing the price towards the previous resistance level of $0.8841. This move occurred after the bulls built strong support at $0.4531, preventing the bears from taking any further profits after the correction phase.

STGUSDT analysis. Source: Tradingview.com

Despite the decline, the bulls pushed prices higher, sparking a new rally. If this momentum continues, it could break the current resistance level, signaling continued bullish momentum for STG.

Technical indicators also suggest an optimistic outlook. The 50-day and 200-day simple moving averages are trading below the current price at $0.5105 and $0.5911 respectively, providing support. If the uptrend continues, these moving averages may rise further, reinforcing the overall bullish sentiment towards the StarGate Finance price.

Additionally, the relative strength index (RSI) rebounded from 50, the midline of the overbought region, to 75, indicating strong buying pressure. Sustained momentum could push it higher into overbought territory, strengthening the initial bullish rally.

MACD is also trending upward and approaching the neutral line, with the blue line crossing the orange line, indicating upward momentum. Although below neutral levels, the histogram bars are also positive, further contributing to the bullish sentiment.

StarGate Finance Price Rally Could Be Heading for a Recession

If the uptrend continues, a rise in STG price could push the price above $0.8841. This continued price rise suggests that a new high of $1.45 could soon be reached, leading to a significant recovery in market value.

but, The bulls may face resistance at the high of $0.8841, which could form a double top pattern where the trend could turn into a bearish one.

The $0.6663 support level would be a safe landing pad for the bulls if the price struggles to break above this important resistance.

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