Tag: technical

  • Metacade price sees strong bounce off key technical level

    Metacade price sees strong bounce off key technical level

    • Metacade price has jumped 4% in the past 24 hour as bulls bounced off a key support level.
    • With Metacade building the ultimate Web3 hub, interest in MCADE could see its price rally in coming months.
    • The price prediction for Metacade however also takes into account potential headwinds around broader risk asset markets.

    Metacade price has bounced off a key support level to give bulls some joy. The token is currently trading at $0.021, up 4% in the last 24 hours. MCADE/USD is up 20% in the past week, while the 24-hour trading volume is $226,368, up 57%.

    Price has given up even more gains before, which means profit taking is likely to curtail bulls’ movement. But can buyers establish a footing and rebound even higher, especially with Metacade building the ultimate Web3 hub and MCADE available to the broader market after hitting major cryptocurrency exchanges?

    Metacade price prediction

    At current price levels, MCADE looks like a solid buy. The rally to the all-time high above $0.045 occurred just this month and a few days after the token’s successful presale. Since then, bulls have held impressively above $0.020.

    Today’s bounce alongside the upside flip for Bitcoin price suggests a new bull run for the market could see MCADE surpass its peak. This Metacade price prediction means MCADE could see more than 50% in upside bounce to $0.045.

    Aiding this short term view further is the daily RSI signaling a potential breakout from the neutral position. Also, the key support level that Metacade bounced off of is a horizontal line near $0.020 that has been a robust pillar for MCADE bulls.

    If they can continue to push the price higher, the next target could be $0.026. However, the 20-day moving average line is currently slopping to suggest it might offer an area of crucial resistance at $0.022 and $0.025. Its possible MCADE could see a 50% surge to $0.045.

    Overall, Metacade’s price is currently poised for a bullish flip. However, if the price rejects at the 20-day moving average, then it could fall to support levels beneath the psychological $0.020.

    What is Metacade?

    Metacade is a new community-driven gaming arcade powered by blockchain technology and Web3. The Ethereum-based game platform is being developed as the ultimate hub of play-to-earn (P2E) games. At its core is the objective of making Metacade the home of metaverse arcade games, bringing together game developers, players and crypto enthusiasts.

    Designed to cater to all types of gamers, Metacade’s arcade platform will have everything from casual games to competitive tournaments.

    The platform users will leverage the utility of the native MCADE token to tap into earning opportunities. Governance, staking and trading of MCADE all combine with an extensive array of games from different developers and studios to give token holders even more ways to benefit from their investment.

    Will Metacade price reach $5 in 2024?

    This is like asking: Is MCADE a buy still and what’s the long term outlook for Metacade’s price?

    Like other altcoins and cyptocurrencies, Metacade price can be extremely volatile and thus difficult to predict with certainty where it trades next. However, as highlighted by the short term price prediction, price has the potential to rally to new highs in coming months.

    For a long term outlook of Metacade price, it would be important to focus on the likely catalysts for further growth and demand of the token down the road. Having reached $0.045, the main targets in the short term are likely to be $0.1 and $0.5. These levels could be hit in 2023 or 2024 given the market cycles. 

    The $5 price level is also achievable in 2024 or in the medium term given how tokens like Axie Infinity, The Sandbox and Decentraland raced to their all-time highs during the last bull market.

    However, it might be unrealistic to expect MCADE to roar to $5 this year.

    What could catalyse a new Metacade price rally?

    MCADE is a relatively new token, but is showing a lot of potential given its growing community. What’s likely to catalyse fresh gains for the token include the overall bounce in crypto markets amid a new bull cycle, turbulence in traditional finance that sees risk appetite shift more to cryptocurrencies and a resurgence in investor interest in crypto gaming tokens.

    Apart from a unique approach to the P2E gaming ecosystem, there are a few other strengths that could aid in MCADE demand.

    Notably, Metacade is backed by a strong team that is focused on delivering the Web3 experience for users. It also has a clear roadmap – with key milestones such as the presale, exchange listings and platform development reached – as outlined in the project’s whitepaper.

    The token is also designed to be used across a growing gaming ecosystem, which could see increased demand as its public launch approaches.

    If you are considering buying MCADE, then do your own research. You can start by visiting the Metacade website for more information about the project, team and roadmap.

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  • Jasmy price technical analysis as rebound accelerates

    Jasmy price technical analysis as rebound accelerates

    The Jasmy Coin price rose on Monday, continuing a bullish trend that started in December when it dropped to a low of $0.0028. It jumped to a high of $0.0074, the highest point since September 18. It has jumped by over 152% from its lowest point in December, as we wrote here.

    JASMY/USD daily chart analysis

    The daily chart shows that the JASMY coin price has been in a strong bullish trend in the past few weeks. This recovery has been accompanied by elevated volume levels. At the same time, the coin has managed to move above the important resistance level at $0.0060, the highest point on January 24.

    Jasmy also jumped to the 50% Fibonacci Retracement level. Also, it jumped above the crucial resistance point at $0.0068 (October 30 high). It has also jumped above the 50-day moving average and the Ichimoku cloud indicator. Jasmy, which is known as Japan’s Bitcoinhas also formed an inverted head and shoulders pattern, which is a bullish sign.

    Therefore, it seems like Jasmy has the momentum it needs to continue rising in the coming days. If this happens, the next key resistance level to watch will be at $0.0086, the 61.8% Fibonacci Retracement point. This price is about 27% above the current level.

    On the flip side, a drop below the important support level at $0.0060 will invalidate the bullish view. If this happens, it will signal that there are still sellers left in the market who will be keen to push it to the next key support level at $0.0050.

    Jasmy price 4H chart analysis

    On the 4H chart, we see that the Jasmy Coin price has made a spectacular comeback in the past feww weeks. As it rose, the token crossed the key resistance level at $0.0060, where it struggled to move above on January 24 and February 2. The coin is also above the 25-day and 50-day EMAs.

    At the same time, a closer look shows that volume bars have started to drop. Therefore, this could be a sign that the bullish trend is fading, which could see it retreat in the coming days. But on a positive side, the coin has formed a small hammer pattern, which is a bullish sign. 

    A reversal will be confirmed if JasmyCoin price plunges below the lower side of the hammer at $0.0065.

    JASMY/USD chart by TradingView

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  • Is Shiba Inu (SHIB/USD) bull run over? Here is the technical outlook

    Is Shiba Inu (SHIB/USD) bull run over? Here is the technical outlook

    Cryptocurrencies continue to slide in a new week despite enthusiasm settling in previously. Shiba Inu (SHIB/USD) is one such cryptocurrency that posted massive gains. That allowed SHIB to overcome $0.000012 resistance, a key level that has always been watched as a price pivot. Consequently, SHIB went higher to a nearly 3-month high of $0.000015 on October 29.

    At $0.000010, SHIB has suddenly become bearish. That comes after a key technical level at $0.000012 failed to hold. The losses come amid concerns about huge amounts of SHIB being moved from the embattled FTX exchange. Etherscan data showed that whales transferred almost 1.5 trillion SHIB from the FTX exchange. The movement coincided with a nearly 10% price decline in SHIB on the same day.

    SHIB slides below the $0.000012 support as weakness mounts

    Source – TradingView

    A technical outlook shows SHIB trending down after bulls failed to hold firm the $0.000012 level. The price has also lost the 20-day and 50-day moving averages, underlining increasing bear pressure.

    The relative strength index shows a sharp selloff. The token is yet to hit the oversold levels, with the reading below the midpoint. 

    What next for SHIB?

    Shiba Inu is currently under the control of bears. A weak momentum and bearish indicators reinforce a further drop in the price.

    The area around $0.000008 is the next to watch should bulls fail to arrest the current weakness in SHIB. If bulls enter positions, SHIB price could rise to find resistance at $0.000012 again. A potential bullish momentum will be confirmed by a price recovery above the $0.000012 resistance. 

    Buyers should keep off SHIB for now until a proper bull confirmation. However, surprise recoveries on new developments should be monitored as SHIB is already known for that.

    Where to buy SHIB

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy SHIB with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy SHIB with Bitstamp today

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