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Lagrange Price Jumps 24% as Breakout Signals Bullish Momentum
In a stunning turn of events, the price of Lagrange’s native token, LA, has skyrocketed by a whopping 24% in just 24 hours. This remarkable surge can be attributed to breakout signals indicating bullish momentum and fuelled by speculation surrounding a potential buyback program.
The market capitalization of Lagrange has seen a significant climb as well, currently sitting at $83.45M. The trading volume has also experienced an unprecedented surge, with intraday activity jumping a staggering 286% to reach $99.55M.
Technically speaking, the price of LA has broken above two major resistance levels – its 7-day SMA at $0.366 and the 30-day EMA at $0.376. The RSI currently sits at 73.6, indicating strong bullish momentum without venturing into extreme overbought territory. Furthermore, the MACD histogram flipped positive for the first time since July, solidifying the trend reversal signal.
Moreover, the price has pierced through its August 15 high of $0.44, which is now acting as immediate support. If LA sustains above this level, bulls may aim to target $0.464 and subsequently $0.511.
On the flip side, any failure to hold above $0.44 could potentially trigger a pullback towards $0.37, the previous breakout zone.
Source: coinpedia.org
