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GOAT Memecoin Reaches New Peak, Closing in on $350M Market Cap

Published
Valdrin Tahiri
Published
By Valdrin Tahiri
Edited by Ryan James

Key Takeaways

  • Goatseus Maximus (GOAT) reached its all-time high on Oct. 17.
  • The price has increased by nearly 200% since launch.
  • Will GOAT’s remarkable rally continue for the rest of the year?

Goatseus Maximum is a memecoin that became prominent after frequent mentions by the online Artificial Intelligence (AI) figure Truth terminal .

The GOAT memecoin is supported by the Truth Terminal bot and its creator, Andy Ayrey.  Its price has increased more than 11,000% since its launch on Oct. 11, reaching a new all-time high of $0.375 on Oct. 17.

Its volume in the past 24 hours is over half its market cap, and the memecoin has gained considerable interest on X . Let’s analyze its price action and see where the upward movement will lead.

GOAT Reaches All-Time High

The GOAT price has increased rapidly since its launch. Starting on Oct. 12, the price began trading inside an ascending parallel channel. 

While the channel’s midline initially rejected it, GOAT accelerated its increase after breaking out on Oct. 16. This led to a GOAT all-time high price of $0.375 on Oct. 17.

The high was made at the channel’s resistance trend line. After two rejections from the channel (black icons), GOAT began to fall.

The GOAT price is breaking below the channel’s midline today, Oct. 17. If it does, it could fall to the support trend line at $0.192.

GOAT Movement
GOAT/USDT Four-Hour Chart | Credit: Valdrin Tahiri/Dexscreener 

Technical indicators support the downward movement. This is visible in the Relative Strength Index (RSI), which has generated a bearish divergence (green) and fallen below 70.

So, if the GOAT price closes below the channel’s midline, the most likely scenario is a downward movement toward the support trend line.

While this will not mean the upward movement has ended, it can be a temporary correction before the increase can resume.

Correction Before Continuation

After an over 11,000% increase, the memecoin is showing its first signs of weakness in the form of a bearish divergence in the RSI and rejection from the channel’s resistance trend line.

If the GOAT price breaks down from the midline of its pattern, it could fall toward $0.192 before possibly finding support.

Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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