Cryptocurrency SuperVerse Reaches $1 Billion Market Cap in 30 Days: Can SUPER Hold on to Its Gains
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- A Fibonacci retracement has indicated potential short-term price levels for the cryptocurrency SuperVerse.
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Exercise caution as the exchange’s netflow reflects a risk of heightened selling pressure.
In the previous month, SuperVerse [SUPER] surged by 60%, mirroring overall market trends. This rally elevated its market cap to a remarkable $1 billion within just 30 days.
The latest developments hint that buyers are determined to drive the asset to new all-time highs. However, it’s uncertain if this momentum can persist in light of possible market challenges ahead.
Decline-Rally Pattern: What Comes Next for SUPER?
The chart suggests there is a significant chance that SUPER’s upward trend might pause as it seeks a crucial support level where enough buy orders could renew upward movement.
The Fibonacci retracement tool points toward the 0.382 level at $1.83 as an essential support area. This indicates a possible drop of around 18.14% from its recent peak, prior to any recovery phase starting.
This decline may stretch further down to the 0.5 retracement level around $1.70 before any upward trajectory resumes..
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An analysis from AskFX has identified elements that may lead to a temporary drop in SUPER’s value in upcoming weeks. span >
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The SuperVerse cryptocurrency faces challenges span > h2 >
As per Coinglass reports, SUPER experienced its highest daily exchange netflow on December 8 since its launch, channeling assets worth $3.93 million into exchanges.
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p > Source: Coinglass ( >
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( ) For SUPER, positive netflows indicate enhanced selling activity with more assets flowing onto exchanges, which can lead to lower price levels due to reduced demand.(Lorem V)skip(this);click!As( ;Not*Your Friendly)USE LL Now*(019 He).NO REPLACES THIS MINUTE(Super)
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