Goatseus Maximus (GOAT) has reached a new all-time high, supported by strong technical indicators. However, signs of an overbought market suggest the rally might be nearing its peak. Let’s dive into the latest analysis.
Current Uptrend Losing Momentum
GOAT’s trend strength, as indicated by the Average Directional Index (ADX), has declined. The ADX currently stands at 27.63, down from above 36 last week. This drop hints at weakening momentum.
The ADX measures trend strength on a scale from 0 to 100. Values above 25 suggest a strong trend, while below 20 indicate a weak or non-existent trend. Despite the drop, an ADX of 27.63 means GOAT is still trending up, though less powerfully than before.
Is GOAT Entering Overbought Territory?
GOAT’s Relative Strength Index (RSI) has climbed to 67.63 after its recent surge to a new high. The RSI jumped sharply from 50, indicating strong buying activity. However, this also means the meme coin is approaching overbought levels.
The RSI ranges from 0 to 100, with values above 70 signaling overbought conditions and below 30 indicating oversold levels. As GOAT’s RSI nears 70, it suggests the price could soon face a pullback.
Price Prediction: Will GOAT Correct by 39%?
GOAT’s recent high, combined with its strong alignment of Exponential Moving Averages (EMAs), points to a healthy uptrend. The price is trading above all key EMAs, indicating solid upward momentum.
However, with the RSI nearing the overbought zone, there’s a risk of a correction. The nearest support level is around $0.76. If this support fails, the price could fall further to $0.69, implying a potential 39% correction.
This correction could remove GOAT from the top 10 biggest meme coins by market cap. Investors should watch key support zones closely to gauge whether the rally can sustain its momentum or if a pullback is likely.
