LADYS Token Enters Correction Phase, Signs Point to Impending Retracement

The LADYS token, representing the Milady Meme coin, exhibits a retracement pattern with support found at the 20-day EMA. Despite low volume buying activity and consolidation, technical indicators hint at a potential breakdown with a neutral trend. At the time of writing, LADYS trades at $0.000000251, experiencing a 7.80% intraday decline. Analysts anticipate a further retracement, possibly leading to a retest of the 100-day EMA.

LADYS Token Embarks on Correction Phase, Technical Indicators Point to Potential Retracement

The LADYS token (Milady Meme coin) has embarked on a correction phase, with the token's price retracing gains and seeking support at the 20-day Exponential Moving Average (EMA). The price action over the past week has highlighted selling pressure, indicating the token's potential for further decline.

Technical Analysis Suggests Bearish Momentum

At the time of writing, the Milady Meme coin (LADYS) was trading at $0.000000251, marking an intraday drop of 7.80%. This price movement suggests a neutral trend on the charts. The token has delivered a monthly return of 188.90% and an impressive 198.80% on a yearly basis. The LADYS/BTC pair is currently valued at 0.00000000000359 BTC, while the market capitalization stands at $223.45 million.

Technical indicators align with the bearish sentiment, suggesting further retracement in the coming sessions. The Relative Strength Index (RSI) curve has declined below the midline and is forming a negative crossover, reflecting elevated selling pressure. Additionally, the Moving Average Convergence Divergence (MACD) indicator exhibits a bearish crossover, indicating underperformance for the near future.

Price Volatility and Sentiment Analysis

Data from Santiment reveals a significant drop in price volatility, with a decline of over 350% to 0.013. This indicates a diminished interest among investors. However, the low volatility also suggests reduced fear of missing out, implying potential consolidation rather than a sharp selloff.

Social dominance and X followers have also witnessed a sharp decline. Social dominance has dropped over 110% to 0.013%, signifying reduced investor activity on social media platforms. The X followers data has experienced a decline of over 590% to 81. Despite these declines, the number of holders has remained consistent at approximately 21.1k.

Network Growth and Active Addresses Highlight Contraction

Network growth and active addresses exhibit a negative trend. Network growth has declined by over 454% to 38, while active addresses have decreased to 2648, a drop of over 17%.

Fibonacci Retracement Levels Indicate Support and Resistance Zones

Based on the Fibonacci retracement levels, the Milady Meme coin (LADYS) price has slipped below the 38.2% zone and may soon retest the 23.6% zone. Technical indicators point towards a potential setback ahead, with the token likely to test the 100-day EMA mark.

Summary and Forecast

The Milady Meme coin (LADYS) price has entered a correction phase, backed by bearish technical indicators. The token is finding support at the 20-day EMA, but further retracement seems likely. Analysts anticipate that LADYS may retest the 100-day EMA mark in the near future.

Key Support Levels: $0.000000200 and $0.000000180

Key Resistance Levels: $0.000000320 and $0.000000380

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute financial advice. Readers should conduct their own research before making any investment decisions.