Amidst a general downturn in the cryptocurrency market, the Solana-based Goatseus Maximus (GOAT) has caught significant attention with its impressive performance.
GOAT Outperforms BTC, ETH, and SOL
In the past few hours, the prices of Bitcoin, Ethereum, and Solana have collectively dropped by nearly 4%. Meanwhile, GOAT has shown a gain of over 19% in the past 24 hours and 5.6% in the past few hours, trading near $0.98. With this notable gain, GOAT has hit its all-time high and crossed the $1.01 mark. Despite this surge, the trading volume decreased by 4%, indicating lesser participation amid market corrections.
GOAT Technical Analysis and Upcoming Levels
According to experts, GOAT appears bullish at its ATH level. The recent price movement followed a breakout from a 'flag and pole' pattern. However, GOAT is now consolidating within a narrow range. If it breaks out and closes a daily candle above the consolidation zone at $1.01, this may signal a potential for further growth.
Rising Open Interest
On-chain metrics affirm GOAT's bullish trend. According to Coinglass, a chain analytics firm, GOAT's open interest (OI) has surged by 30.43% in the past 24 hours and 6.9% in the past four hours. This rising OI reflects increased trader participation, as open positions have grown by 30% compared to the previous day.
Despite a general market downturn, Goatseus Maximus continues to impress with its achievements. Watching its development in the coming days will be intriguing.
