The cryptocurrency Thena faced a sharp decline in the past 24 hours despite recently hitting a new high. Technical indicators suggest a possible trend reversal, while a new player, Catslap token, emerges in the market.
Thena Price Consolidates
Over the past day, Thena's price entered a consolidation phase between $2.8158 and $3.8898. This short-term stabilization could lead to significant price movement over the weekend. In a bullish scenario, Thena could attempt to flip the resistance at $3.8898, potentially aiming for the $4.8590 mark. Alternatively, a bearish momentum might push the price below the $2.8158 support, opening the path towards the $2.0299 level.
Technical Analysis: Bulls Might Retake Control
Technical indicators reveal that the downward momentum may be cooling off. Chart data shows the MACD line approaching the signal line, hinting at a readiness for a bullish move. Thena's position on the lower Bollinger Band might also indicate a potential upward price correction soon.
Catslap: The New Meme Token Challenging Popcat
Catslap token is emerging as a strong contender in the meme crypto market with over 8.1K holders and a market cap exceeding $23 million. By adding a 'play-to-earn' feature to its viral game, Catslap is poised to capture more attention and possibly dethrone leaders like Popcat.
Despite recent price fluctuations, Thena could rebound aided by favorable technical signals. Meanwhile, new projects like Catslap are entering the meme crypto space with the potential to shake up the market.
