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Highlights
- Test Token price decline 70% from ATH after Binance listing, but double bottom pattern forecasts a 224% rally.
- The Binance listing and CZ's comments on the situation crashed the token earlier.
- A successful uptrend could push the TST price to a new ATH of $0.5290.
The launch and price performance of the Test token on Binance have become controversial events. Interestingly, it is drawing excitement and skepticism simultaneously, and its transformation from a test token to a meme coin has divided investor sentiments. Despite this, the TST price struggled significantly, but a pattern forecasts the possibility of a bullish reversal to the ATH and a 224% rally. How? Let’s discuss.
Test Token Price Struggles Amid Binance Controversy
The Test Token currently trades at $0.16 after facing a 70% decline from its ATH of $0.5244, set just four days ago. This happened as the Binance listing sparked controversy, especially as the former Binance CEO, Changpeng Zhao, criticized the TST listing, as the token was initially introduced as the test token for a video tutorial. However, it has now been transformed into a high-risk, high-reward meme coin.
Interestingly, earlier it was rumored that the TST is connected to CZ, but he soon debunked that. These events influenced investors’ decisions, but its unique anti-inflation burn mechanism grabbed more attention. Now, the holders are waiting for a potential trend reversal or a breakout. Interestingly, the current price pattern indicates the possibility of a bullish breakout with a 224% surge.
Test Token Price Prediction: 224% Rally To Bring New ATH $0.52?
Crypto analysts believe the Test token price chart is coiling and hinting at strong bullish moves. Interestingly, the TST/ USDT charts confirm this, as a breakout zone is forming. A bullish reversal may begin if the TST price reclaims the $0.2329 resistance. More importantly, the continuity of the uptrend would result in the price hitting $0.3992 before targeting $0.5290, a new ATH.
In this scenario, $0.195 would act as a crucial level, so the price must stay above this. This Test token price prediction claims that a 143.64% rally would first push the token to $0.2350, and another 224.20% would attain $0.3652. However, $0.52 is the most optimistic scenario and requires continuous bullish momentum.
Key Factor To Drive This Bullish Reversal
The TST token has become a topic of discussion in the crypto industry, where its aggressive anti-inflation model is in the spotlight. In this model, 100% of the liquidity pool (LP) revenue will be used to shrink the supply by burning tokens every two weeks. The next burn is on February 21, and a 150 million-token burn is anticipated.
Investor sentiments will act as another important factor behind this bullish reversal. Current stats show that support for the token is growing, and a crypto analyst, degrading X post, claims it is ready to move.
Additionally, despite the TST price downturn, the trading volume is high at $486.61M after a 12% surge, showing investor participation. Lastly, the Binance controversy is likely to maintain its name in trend. Such events will result in a bullish trend reversal and a rally.
Can TST Price Really Hit $0.52?
Currently, the TST token price is consolidating significantly, but forming a bullish pattern creates the possibility of an uptrend. However, the bullish Test token price rally will depend on the success over the $0.2329 resistance level.
More importantly, the investor’s bullish sentiments and the continuity of this Binance controversy are needed for this breakout to happen. Interestingly, this is also influencing the BNB token price, which is up by 10% today.
However, the failure to do so could crash the token further. With that, investors are monitoring this token continuously as there’s high volatility and multiple events that could influence its price, including Changpeng Zhao’s official dog revelation.
Frequently Asked Questions (FAQs)
1. Why did the Test token price crash after the Binance listing?
2. What's the key level to monitor to witness TST trend reversal?
3. Can the TST price achieve $0.52?
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