LeverFi (LEVER), the decentralized leverage trading platform formerly known as RAMP DEFI, has seen notable market movements with a significant price surge. According to data from CoinMarketCap, the LEVER token has witnessed a 20.69% increase in the last 24 hours, with its current price standing at $0.003981.
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Breakout from Symmetrical Triangle Pattern Fuels Rally
Crypto analysis platform IceCharts has identified a bullish breakout for LEVER on the 3-day timeframe. Their analysis shows LEVER breaking out of a symmetrical triangle pattern, a technical formation that often precedes a substantial price movement. IceCharts anticipates a “massive uptrend” ahead, suggesting traders should “ride the wave” of this potential rally.
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Show more +Significant Price Surge and Target Levels
The 3-day price chart provided by IceCharts highlights a recent significant upward movement in the LEVER price, indicated by a series of green candlesticks that have pushed the price above a descending trendline. This trendline previously acted as resistance, and the breakout above it is considered a bullish signal in technical analysis, potentially signaling a trend reversal.
Moreover, the chart captures a sharp price increase within a highlighted region, showcasing a 200.96% possible gain over a short period, representing more than a doubling in price. IceCharts has identified a potential target price of 0.004499 USDT, which may represent the expected peak or an area of significant interest for traders.
LeverFi’s Rebranding and Vision
LeverFi, formerly RAMP DEFI, rebranded in March 2022 to address issues within the DeFi market, such as a lack of sustainable total value locked (TVL) and utility. The team behind LeverFi aims to create a product that provides value by allowing users to trade and yield farm simultaneously, addressing the growing demand for leveraged trading opportunities in the DeFi space.
While the rprice surge has caught the attention of analysts and traders, it’s essential to note that the crypto market is highly volatile, and price movements are subject to various factors.
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