The post Can New XAI Gork Sustain Momentum Above $0.11? appeared on BitcoinEthereumNews.com.

New XAI Gork (GORK) is a meme coin launched on the Solana blockchain, inspired by Elon Musk’s xAI chatbot, Grok. Despite its humorous origins, GORK has garnered significant attention in the crypto community, experiencing notable price surges and high trading volumes. GORK Shows Signs of Early Accumulation, but Volatility Remains GORK price dynamics (Source: TradingView.) New XAI Gork (GORK) has seen erratic yet increasingly structured price action since launching, with visible breakouts from compression zones across lower timeframes. The 15-minute chart reveals periodic expansions in volatility, most notably on May 3 and 4, when GORK briefly surged past $0.09 before retracing. Bollinger Bands have widened significantly around these spikes, indicating a rise in momentum traders but also an absence of steady directional bias. On the MACD, both histogram and signal lines have crossed into neutral-to-bearish zones following the recent rally, hinting at a pause or pullback in the short term. The RSI currently hovers around 42, suggesting mildly bearish intraday pressure, but not deep enough to imply oversold conditions. This could lead to lateral consolidation before a potential move toward resistance. Trendline Resistance Still Intact on Micro Timeframes GORK price dynamics (Source: TradingView.) On the 15-minute chart, GORK attempted to break out of descending channel formations three times within the past 36 hours. Each time, it was rejected under the $0.079–$0.080 resistance zone. These repeated failures near $0.07906 form a clear short-term supply area, with sellers consistently stepping in. However, the uptrend line formed from the April 30 swing low is still technically active, though now being tested as support. If this trendline fails to hold, immediate downside could extend toward the $0.053–$0.057 zone, where the price last consolidated before the recent breakout. The 4-hour chart remains structurally early, but the candle structure confirms that price is respecting higher lows…

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Filed under: News - @ May 5, 2025 7:25 am