Key Takeaways:
- Crypto exchange Bitget has announced the listing of Lovely Inu Finance’s token.
- However, LOVELY INU’s price failed to rally.
NEW DELHI (CoinChapter.com) — Lovely Inu Finance seems to be doing good on its anniversary promise of listing its native token, LOVELY, across ten exchanges.
Crypto exchange Bitget announced its decision to list the Lovely Inu Finance coin in its ‘Innovation Zone‘ and ‘Meme Zone.’
The Bitget Innovation Zone helps users trade new token offerings safely. Often, new tokens are relatively riskier and more volatile than regular crypto offerings. Furthermore, the Bitget announcement stated that the exchange would list the LOVELY INU coin for spot trading.
Bitget noted that the LOVELY INU coin’s listing in the innovation zone would involve a 60-day valuation period. If the token fails to meet certain criteria, Bitget reserves the right to delist the tokens. Per the announcement, users can start depositing the Lovely Inu Finance token on Aug 1 at 14:00 hrs (UTC).
However, trading and withdrawals for the LOVELY INU coin price will begin 48 hrs later on Aug 3. Bitget will list the LOVELY/USDT.
LOVELY INU Price Remains Stagnant
Meanwhile, the bullish cue failed to help the Lovely Inu Finance coin price recover from its ongoing downtrend, in which LOVELY INU’s price dropped nearly 68% from July 26’s high of $0.000000472.
News of Bitget listing the Lovely Inu Finance coin did attract buyers. Long wicks on both ends of the Aug 1’s daily candle highlight the struggle between the bears and bulls. However, bearish pressure against the LOVELY INU coin seems strong.
Bulls tried to start a rally, but the selling pressure forced LOVELY INU’s price to drop over 13% to reach a daily low near $0.000000168 before bulls recovered some of the day’s losses.
If the downtrend continues, the Lovely Inu Finance coin price might drop to its 200-day EMA (green wave) support near $0.000000138. Moreover, failure of the immediate support level might push the LOVELY INU price to the support near $0.000000071.
Conversely, bulls must force the LOVELY INU price to flip its 50-day EMA (purple wave) resistance near $0.00000022 to infuse confidence in the token’s rally.
Breaking and consolidating above the immediate resistance would likely help the Lovely Inu Finance coin price target its 20-day EMA (red wave) resistance near $0.000000283 before corrections pare gains.
The RSI for LOVELY INU remained neutral, with a value of 41.10 on the daily charts.
