• Myro token has distinguished itself as meme coins crash following BTC all-time high.
  • Amid soaring volatility, MYRO could crash after expected listing on Binance Exchange.
  • Cryptocurrency markets continue to bleed amid massive sell orders after BTC ATH.

Cryptocurrency markets continue to bleed after Bitcoin (BTC) shattered its $68,999.99 peak to record a new all-time high of $69,324. However, with this peak, a renowned trader and analyst, @HsakaTrades calls out the whales for pushing price down. Specifically, the analysts says that these large holders have placed spoofy sell orders on exchanges to make noobs and risk managers sell. In his opinion, the large holders are looking to "buy back lower.”

Also Read: Bitcoin price hits new ATH as spot BTC ETFs soar past $50 billion

Myro price sustains gains as meme coins dump

Myro (MYRO) price remains up almost 70% despite meme coins posting double-digit losses.  For MYRO, the optimism comes as investors accumulate the meme coin ahead of a Binance Exchange listing for the USDT-M perpetual contract.  A report by Binance revealed plans to list MYRO against the Tether (USDT) stablecoin for its perpetual contract with 50X leverage.

Recording a peak of $0.38500, Myro price remains among tokens in the meme coin sector that remain bullish as its peers, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) post double-digit losses. Others that remain bullish include PepeFork (PORK), which is the fork of frog-themed PEPE and Toshi, powered by the TOSHI token.

Investors can also anticipate more volatility around Dogwifhat (WIF) price as the token is due to go live on Binance after Robinhood listing. Notably, the buy the rumor sell the news situation is likely at play here for both MYRO and WIF. 

Also Read: Robinhood to list Dogwifhat as WIF tags $1: Is Coinbase next?

Myro price outlook as meme coins shed

Myro price remains well above the January 19 supply zone, which extends from $0.1901 to $0.2347. If MYRO manages a close above this order block on the daily timeframe, it could catalyze a continuation of the intermediate trend.

For now, the market leans in favor of the bulls, with momentum rising as seen with the Relative Strength Index (RSI). The Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) both favor the upside, seen as they both show large volumes of green histogram bars in positive territory.

Enhanced buying pressure could see Myro price reclaim above the $0.3000 psychological level. In a highly bullish case, the gains could extend to the peak of the intra-day high of $0.3850. Clearing this local top would open the expanse for extended gains, with MYRO likely to reach the $0.4000 psychological level. This would denote a climb of about 46% above current levels.

MYRO/USDT 1-day chart

On the other hand, if profit booking sends the Myro price to close below the centerline at $0.2136, it would effectively mean the supply zone is holding as a resistance. This could see Myro price retest the foot of the Japanese candlestick at $0.1523. 

(This story was corrected on March 7 at 12:01 GMT to say, in the headline and second paragraph, that Myro price increased almost 70% on the day, not 50%.)

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Bitcoin bull market is still going strong, on-chain data shows

Bitcoin bull market is still going strong, on-chain data shows

Bitcoin’s (BTC) price outlook remains positive in the short term despite its recent stabilization, on-chain data suggests, propelled by easing selling pressure by long-term holders and activity from large-wallet investors. 

More Bitcoin News

Dusk price sets the stage for a 20% rally

Dusk price sets the stage for a 20% rally

Dusk price is currently being rejected at around $0.426 level. The on-chain metric suggests DUSK growing network and dormant wallets are moving upwards again. A daily candlestick closing below $0.286 would invalidate the bullish thesis.

More Cryptocurrencies News

Digital asset inflows reach record high year-to-date

Digital asset inflows reach record high year-to-date

CoinShares' weekly digital asset flows, released on Tuesday, reveal that digital assets recorded a three-week consecutive rise in inflows, amounting to a record high of $14.9 billion already this year.

More Cryptocurrencies News

Bitcoin long-term holders begin re-accumulation after Semler Scientific and Mt Gox make major whale moves

Bitcoin long-term holders begin re-accumulation after Semler Scientific and Mt Gox make major whale moves

Bitcoin declined briefly from the $70,000 mark on Tuesday as Semler Scientific and Mt Gox made notable whale moves. Glassnode also shared key on-chain insights that breathe clarity into the market's current state.

More Bitcoin News

Bitcoin: BTC struggles, but $80K is at striking distance Premium

Bitcoin: BTC struggles, but $80K is at striking distance

Bitcoin (BTC) price is in a good position to resume the bull rally despite the recent struggle. Optimism will restart if BTC overcomes a critical hurdle and flips it into a foothold. In such a case, the pioneer crypto will be slated to push to a new all-time high (ATH). 

Read full analysis