From Obscurity to All-Time High — How Housecoin (HOUSE) Price Gained 10,000% in a Month

Key Takeaways

• Housecoin (HOUSE) reached a new all-time high on April 30.
• The price has increased by nearly 10,000% since April 1.
• How long will the Housecoin price increase continue?

Housecoin is a memecoin in the Solana blockchain that satirically claims to hedge against the real estate market. Its tagline is “Flipping the Housing Market, One HOUSE at a Time.”

The HOUSE price has rallied since the start of April, becoming parabolic on April 25 and reaching a new all-time high today, on April 30.

What’s behind this increase, and how long will it continue? Let’s find out.

HOUSE All-Time High

The HOUSE price has trended upward since the beginning of April, when it traded at $0.003.

After consolidating for two weeks starting on April 11, HOUSE started a parabolic increase that culminated with an all-time high of $0.106 on April 30.

Because of the parabolic rally, the price of Housecoin does not follow any discernible pattern.

Moreover, it created long upper wicks in two distinct periods: between April 25 and 28 and on April 30 (red icons).

Additionally, technical indicators are showing weakness.

The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) have generated bearish divergences (orange).

So, the Housecoin price may reach a local top soon if it has not already done so.

Correction Incoming?

The wave count aligns with the weakness shown from the price action, suggesting a correction is imminent.

According to the count, the price of Housecoin has completed wave three of a five-wave upward movement.

Wave three is 1.61 times the length of wave one, making it possible that the rally is over.

If this is true, HOUSE will correct, reaching the horizontal and Fibonacci support at $0.056.

Alternatively, an extension of wave three can take the HOUSE price to $0.152, giving it 2.61 times the length of wave one.

This is less likely because of the bearish divergences and long upper wicks.

Housecoin Due for a Correction

Housecoin was one of the best-performing crypto assets in April, surging over 10,000%

The price increase led to a new HOUSE all-time high on April 30.

However, the wave count suggests the rally is ending, and a significant correction is likely.

If that happens, the closest support level will be at $0.056, roughly 40% below the current price.