2024

SLERF

Momentum

<p><strong>SLERF</strong>, a <a href="https://www.thecoinrepublic.com/price-prediction/solana/" rel="noopener noreferrer nofollow">Solana</a>-based memecoin, encountered a sharp bounce and surged over 50% from its weekly low of $0.200. The surge comes after yesterday’s SLERF listing on OKX a major crypto exchange. DEGEN was the other memecoin listed with OKX.</p>
<p>The reason behind this quick rally is the listing on the major crypto exchange OKX platform, which fueled a sharp rise of over 30% in the last few hours.</p>
<p>After a long retracement in the past, the buyers defied the downtrend and breached multiple clusters in a single go. A sharp bullish marubozu candlestick was formed in yesterday’s session, and the memecoin retested the 200-day EMA mark.</p>
<p>Buyers failed to attain follow-on gains, as the memecoin hovered around the make-or-break zone of $0.3000. Once <strong>SLERF </strong>goes beyond that zone, the next bullish leg would shift towards $0.5000.</p>
<p>Interestingly, the memecoin gave signs of a potential trend reversal and was set for a notable recovery in the upcoming sessions. A fresh higher high was noted, and the buyers had accumulated from the bottom and anticipated a rise ahead.</p>
<h2 class="wp-block-heading" id="h-slerf-at-press-time-comeback-imminent"><strong>SLERF at Press Time: Comeback Imminent?</strong></h2>
<p>At press time, <strong>SLERF </strong>traded at $0.2905 with an intraday surge of 0.36%, reflecting neutrality on the charts. It has a monthly return ratio of 27.30% and -74.30% yearly, reflecting a short-term reversal.</p>
<p>The pair of SLERF/BTC was at 0.00000438 BTC, and the market cap was $145.48 Million. Analysts were neutral and suggested that <strong>SLERF </strong>might breakout and exceed the gains beyond the $0.3500 mark.</p>
<p>SLERF emerged from the downtrend following in a market rebound and soared over 50% this week. However, the monthly recovery was noted at 80%, and the memecoin is on the brink of a breakout.</p>
<p>@ForCasper, in his tweet, mentioned an un-leveraged move by the SLERF of over 54% this week.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SLERF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SLERF</a> 54% un-leveraged move<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> <a href="https://t.co/vcIfLySALo" rel="noopener noreferrer nofollow">https://t.co/vcIfLySALo</a> <a href="https://t.co/DiOQotie0Q" rel="noopener noreferrer nofollow">pic.twitter.com/DiOQotie0Q</a></p>— forCasper (@forCasper4) <a href="https://twitter.com/forCasper4/status/1815656394835530182?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
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<p>Trading above the 20-day and 50-day EMAs, <strong>SLERF </strong>faced the barrier of the 200-day EMA. A sharp rise would be unlocked once the mighty bulls cross this significant hurdle.&nbsp;</p> <iframe title="Santiment Chart: Volume (SLERF), Price (SLERF)" width="800" height="425" src="https://embed.santiment.net/chart?ps=maker&amp;pt=MKR&amp;df=2024-01-24T18%3A29%3A59.904Z&amp;dt=2024-07-24T18%3A29%3A59.904Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bvolume_usd%3Bslerf%3BSLERF%5D%3B%5B1%3Bprice_usd%3Bslerf%3BSLERF%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%226h%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Per the price action, the downside was capped till $0.2300, and the memecoin was set to chase the upside. Meanwhile, if the 200-day EMA zone is untouched, a consolidation price move could be seen ahead.</p>
<p>Notably, the RSI curve saw a sharp vertical spike, had a reading of 70, and noted a positive crossover. In contrast, the MACD indicator plotted the green bars on the histogram, revealing a bullish outlook.</p>
<h2 class="wp-block-heading" id="h-social-dominance-data-shows-spike"><strong>Social Dominance Data Shows Spike</strong></h2>
<p>The price surge set off a flurry of tweets and threads on social platforms. The buzz on social media was reflected in a 30% spike in the social dominance curve.</p> <iframe title="Santiment Chart: Social Dominance (SLERF), Total NFT Trades Count" width="800" height="425" src="https://embed.santiment.net/chart?ps=maker&amp;pt=MKR&amp;df=2024-01-24T18%3A29%3A59.904Z&amp;dt=2024-07-24T18%3A29%3A59.904Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_dominance_total%3Bslerf%3BSLERF%5D%3Bnft_trades_count&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Meanwhile, the NFT trades count stayed around the bottom mark of 3, signifying weak growth in the NFT segment and lower demand.</p>
<p>The immediate support levels for <strong>SLERF </strong>at press time were $1.80 and $1.30, whereas the key upside hurdles could be around $2.40, followed by $3.</p>
<p><strong>SLERF </strong>climbed above the 20-day EMA mark and reached the 200-day EMA mark hurdle. Until the barrier remains is broken, range-bound moves can be seen. However, the bears looked trapped, and the memecoin would stretch its gains beyond the $0.3000 ahead.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/25/slerf-bounces-back-over-50-this-week-will-the-momentum-last/" rel="noopener noreferrer nofollow">SLERF Bounces Back Over 50% This Week: Will The Momentum Last</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

SLERF Bounces Back Over 50% This Week: Will The Momentum Last

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