Cryptographic analyzer CobraVangguard Provided a bullish outlook for Solana meme coin MYRO. The analyst stated that the memecoin is poised for a massive 300% price breakout and revealed how that could happen.
Solana Meme MYRO Coin Poised for a 300% Breakout
In a TradingView ShareCryptocurrency analyst CobraVanguard has predicted that the Solana meme coin MYRO is poised for a 300% price breakout. This came as the analyst revealed that the price had formed a level Rising wedge On the daily time frame. He added that if it is hacked, it could send the price rising to around $0.15.
In an update, the analyst mentioned that trade setup is already underway. However, he urged market participants to be patient and cautious, knowing how volatile the cryptocurrency market is at the moment. CobraVanguard added that the cause of the accident was: Trump coindraining liquidity from all other Solana meme coins.
Regardless, this latest analysis undoubtedly offers some optimism regarding the price of MYRO. the Solana The meme coin has seen a massive decline since it reached an all-time high (ATH) of $0.44 in March last year. For context, the memecoin is 90% below its current ATH.
This decline in MYRO prices is partly due to the fact that newer coins in the Solana ecosystem have drained liquidity from similar older coins. Cobra Vanguard analysis suggests that the meme coin is bound to rise from the ashes and even rise to $0.15, which could be the first step to reaching a new ATH.
MYRO could see price rise by 600%
Cryptographic analyzer Javon Marks She provided a more bullish forecast for the Solana meme MYRO, predicting that it could see a price rise of more than 600%. This came at a time when the analyst pointed out that the price of the meme coin on the daily unlisted chart is currently still holding, breaking out of the large falling wedge pattern.
In line with this, the analyst noted that the meme price could be poised to achieve significant results towards the breakout target of $0.417776. He added that with this target achieved by more than 630%, MYRO could record a price increase of more than 7 times from its current level.
Cryptocurrency analyst Yzzz also offered a bullish outlook for the Solana meme coin, noting that “the fun starts soon,” suggesting that a bullish reversal could be on the horizon. The analyst noted that the meme coin is listed on Bybit, with the extension Crypto exchange It owns 20% of the supply and suggested that the exchange could, at some point, contribute to a massive rise in meme prices.
At the time of writing, MYRO’s price is trading at around $0.039, down over 10% over the past 24 hours, according to Data From Coin Market Cap.
Featured image from Unsplash, chart from Tradingview.com