Status (SNT) Price Skyrockets with Huge Surge, Know What’s Driving it?
/ Discover the surge of Status (SNT) token – +108% in 24 hours! Explore the factors driving its remarkable growth in the crypto market.
By Nilesh Hembade.
Date: 01 Nov 2023, 10:01 AM IST
Cryptocurrency lovers and investors were in for a pleasant surprise today as Status (SNT), experienced a remarkable resurgence in the cryptocurrency market. Over the past 24 hours, the price of the SNT token has surged by an impressive +108%, capturing the attention of the crypto community and market participants alike. At the time of writing, the SNT token is exchanging hands at $0.06069, boasting a substantial market capitalization of $117 million. What’s more, the trading volume for SNT has witnessed a staggering increase of +9222%, as reported by CoinMarketCap.
What Is Status (SNT)?
Status is categorized as a mobile and desktop operating system and decentralized browser that incorporates a messaging system.
So, what’s behind this extraordinary surge in the Status (SNT) token’s value? Let’s look into the factor that have fueled this resurgence:
Breakout from Symmetrical Triangle Pattern: One of the major catalysts driving the surge of the Status (SNT) token is its impressive breakout from the symmetrical triangle pattern. This pattern had been forming for a period of time, causing anticipation and speculation in the cryptocurrency community. On October 25, the status coin was shattered as the SNT token’s price decisively broke through its resistance level, previously set at $0.02879.
Testing and Skyrocketing: Following the breakout from the symmetrical triangle pattern, the Status (SNT) token underwent a five-day testing period to ensure that the upward momentum was sustainable and not just a temporary spike. After these days of anticipation, the price of the SNT token skyrocketed to its current value, marking a remarkable resurgence in its market performance.
This surge in the Status (SNT) token’s price demonstrates the dynamic nature of the cryptocurrency market, where sudden and significant movements are not uncommon. As investors and traders continue to keep a watchful eye on this digital asset, it remains to be seen whether the upward momentum will be sustained or not.
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