The post LMWR rises by 226% over the past month appeared on BitcoinEthereumNews.com.

LMWR has surged by 62.13% over the past 24 hours. Market indicators suggest that LimeWire is till undervalued. Since hitting a local low of $0.1707 a week ago, LimeWire [LMWR] has experienced a strong upswing to reach a 5-month high of $0.47. However, since this price spike, it has experienced a market correction. In fact, of this writing, LimeWire was trading at $0.3975. This marked a 62.13% increase over the past 24 hours. Over the same period, the altcoin’s trading volume has surged by 672.12% to hit $56.92 million while the market cap has surged by 51% to $114.42 million. Equally, it has gained on weekly and monthly charts hiking by 103.46% and 226.74%. Despite this price up, LMWR remains approximately 79.53% below its all-time high of $1.92. The question that arises after the recent pump is whether LimeWire can sustain the rally. Can LMWR sustain its rally? According to AMBCrypto’s analysis, LMWR is currently experiencing a strong upward momentum. As such, the altcoin is seeing increased buying pressure with buyers dominating the market. Source: Tradingview We can see this dominance from buyers through a rising Stoch RSI. After making a bullish crossover a week ago, this has spiked to 99. Such a surge shows that buying pressure is higher than selling pressure. This phenomenon is further evidenced by a positive CMF. At press time, LimeWire’s Chaikin money flow (CMF) was 0.06 implying that buyers outweigh sellers. Source: Santiment Looking further, LimeWire’s MVRV ratio Z score remains below zero even though rising. As such, the MVRV score was -11.63 as of this writing after a slight rise from -12.19. When the MVRV score is negative, it suggests that LMWR’s current price is below the average cost basis implying that the market is undervaluing the altcoin. Historically, a negative Z score…

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Filed under: News - @ December 2, 2024 4:15 pm