Hoppy crypto has a strongly bullish outlook, but the divergence between price and momentum gave an early warning sign for traders.
was up 96% since last week. The focus on meme coins this cycle is partly due to the vast amount of unlocks that most altcoins see over time.
Since then, a large retracement had taken place, putting the asset at a $17 million market cap. Since the second half of August, the price has nearly gone up seven times. In the past month the meme coin is up by close to 350%. It saw a rejection from the resistance in recent hours. Its chances of a breakout were diminished by both the RSI’s bearish divergence and the OBV’s inability to break local resistances.
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