GOAT has surged 214.29% in price in a month, recently surpassing $1 billion in market cap to become the 10th largest meme coin, currently ahead of MOG.
However, recent indicators suggest that the GOAT rally may be fading, raising questions about whether the rally can continue or whether it will face a correction.
GOAT BBTrend drops for the first time in 4 days
GOAT BBTrend has flipped to -0.54 for the first time since November 17. This change suggests that a downtrend is beginning and the asset’s recent uptrend may be weakening.
BBTrend uses Bollinger Bands to measure the strength and direction of a price trend. Positive values indicate an uptrend, while negative values indicate a downtrend. A negative BBTrend reflects increased downward pressure, which may indicate the beginning of a broader market shift.
GOAT rose 61% in November, hitting a new all-time high on November 17.
However, if the current negative BBTrend persists and increases, it could indicate the possibility of further downtrend.
GOAT RSI, down to neutral zone
GOAT's RSI has fallen from over 70 to 52 when it reached its all-time high a few days ago. This decline indicates that buying momentum has cooled and the market has moved out of the overbought zone.
This decline suggests a shift to more neutral sentiment as traders adjust profits and the strong upward pressure diminishes.
The RSI measures the strength and speed of price changes, with readings above 70 indicating overbought conditions and below 30 indicating oversold conditions. At 52, GOAT’s RSI is in the neutral zone, not indicating a strong uptrend or downtrend.
This means that the current uptrend is losing momentum and prices may correct or move sideways unless new buying pressure rekindles the uptrend.
GOAT Price Prediction: Rising to $1.50?
If GOAT ’s current uptrend regains momentum, it could retest its all-time high of $1.37 and establish a market cap of over $1 billion, which is a key metric for establishing it as one of the largest meme coins on the market today.
A break above this level could open the way for further upside, potentially reaching $1.40 or $1.50, indicating renewed bullish momentum and market confidence.
However, indicators such as RSI and BBTrend suggest that the uptrend may be losing momentum . If a downtrend appears, GOAT price may test the nearest support zones of $0.80 and $0.69.
If these levels are not maintained, the price could fall further to $0.419, putting its position in the top 10 largest memcoins at risk.
