LINEA’s recent launch initially generated excitement, showcasing notable early movement. However, its present path delivers a less positive outlook.
While maintaining some demand, the overall market response remains tepid, casting doubt on LINEA’s chances of reaching its all-time high (ATH) again.
Improvement Needed in Linea Launch Response
Interestingly, Smart Money investors continue to exhibit faith in LINEA. Recent data shows their holdings rose from 27.96 million LINEA to 28.29 million LINEA over the last 24 hours. This consistent accumulation signals that savvy investors are betting on the token’s long-term potential.
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This buying behavior implies that, despite the muted market reaction, institutional and experienced traders recognize value in LINEA’s fundamentals. Their support is vital, as consistent inflows from Smart Money often help tokens navigate short-term volatility.
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Technically, LINEA’s momentum is showing early signs of weakness. The relative strength index (RSI) fell below the neutral 50.0 line before slightly recovering. This variation suggests that while bullish momentum exists, it lacks sufficient strength to catalyze a breakout.
Low RSI readings highlight the challenges LINEA faces in gaining traction. Without a stronger push from both retail and institutional players, the token may struggle to maintain upward pressure. This scenario is counterproductive for a newly launched altcoin that needs momentum to secure gains and build confidence.
LINEA Price Must Overcome Barriers
Currently, LINEA is trading at $0.0285, striving to establish this price as a solid support level. This foundation is crucial before targeting the ATH of $0.0332 previously set.
For LINEA to reach this goal, it must break through the resistance at $0.0310. Achieving this would provide the necessary momentum to approach its ATH. However, this effort will rely heavily on broader market support.
If enthusiasm from Smart Money wanes, LINEA could drop to $0.0257. Such a decline would negate the bullish outlook and potentially dampen retail investor confidence, leading to further selling pressure.
