Ethervista token has gone parabolic, making it one of the best-performing cryptocurrencies this week. It has risen in the past seven consecutive days, reaching a high of $79.05 and pushing its market cap to over $60 million. It is up by over 1,300% from its lowest level this year.
Ethervista token’s surge happened after the developers launched Etherfun, a new meme token generator for the Ethereum network. It hopes to become the biggest alternative to Solana’s Pump.fun and Tron’s SunPump, which have become highly popular among investors and developers.
Pump Fun tokens have gained a market cap of over $2.4 billion. They include the likes of Goatseus Maximus, Fwog, Moo Deng, Michi, and Sigma. Over time the Pump Fun network has accumulated over $100 million in fees.
Similarly, Sun Pump tokens have had over $258 million in market valuation, with Sundog, Tron Bull, Invest Zone, and SunWukong being the biggest ones. Etherfun has already attracted tens of meme coins like VT, Glen, CTO, and Shilly.
Therefore, VISTA token rallied as investors anticipated more volume in its decentralized exchange platform, whose total value locked (TVL) has jumped to over $4.12 million, its highest level since September 10.
Ethervista has also jumped as investors anticipate more tier-1 exchange listings since it is now mostly offered in tier-2 exchanges like MEXC and Gate.
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Ethervista price gets overbought
VISTA chart by TradingView
The daily chart shows that the VISTA token has continued rallying this week, reaching a record high of $79. It crossed the important resistance level at $35.10, its highest level on September 5, and the upper side of the cup and handle pattern.
The token moved above the 25-day moving average. However, it has become severely overbought as the Relative Strength Index (RSI) and the Stochastic Oscillator have pointed upwards.
Therefore, the token will likely suffer a harsh reversal in the coming days as the bullish momentum fades. If this happens, the next point to watch will be at $35, which is 41% below the current level.
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