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If you are looking for an undervalued and underrated asset to invest in, then this might just be the one. BEFE saw a stunning 20% spike around the frenzy of its presale.

BEFE has a small market cap of $45 million, but ever since its launch, it has shown consistent growth in daily trading volume. Early investors have seen a whopping 588% return. In fact, last week it even gave a 45% hike around its announcement of around 20 phases of presale on the Solana chain.

So let us look at what is driving its momentum currently:

Source: Bitget

What do the technical indicators tell about BEFE?

BEFE‘s technical indicators are giving mixed vibes. But looking closely at it, we can see some exciting patterns building up. 

1. The bullish divergence of MACD:

The MACD is currently showing a sell signal, but look closer. The MACD has recently crossed below the signal. Despite this, the price action hasn’t confirmed this downtrend. This is mainly because fear and greed play their part in pushing the price. This is a vital factor because:

1. BEFE is a meme coin and needs a high level of support

2. It reflects the high interest of its pre-sale 

2. Neither overbought nor oversold:

BEFE’s RSI level is a comfortable 61.62, well below the overbought territory, which is typically above 70. This suggests there’s room for further price surges before a potential correction.

3. High ADX with Neutral Oscillators:

The ADX sits at 100, indicating a strong trend, but oscillators like Stochastic Oscillator (STOCH) and Stochastic RSI (STOCHRSI) are neutral. This shows that BEFE’s price lacks clear direction. However, the high ADX can also be because of the high buying pressure led by its presale frenzy. 

What can you do next?

Knowing the trends of previo

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Author: Crypto Daily

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