Breaking Out of Falling Channel Pattern
The support level for Bitcoin Cash (BCH) has become a launching pad for bullish momentum. The bulls are currently taking charge, breaking out of the falling channel pattern and confirming a bullish sentiment for BCH price.
SMA Crossover and Moving Averages
The analysis of 50-day and 200-day simple day-moving averages reveals a significant SMA crossover at $121, adding to the bullish outlook. Despite encountering resistance, these moving averages are still upholding a bullish sentiment. The 200-day moving average has played a crucial role in offering support and reinforcing the support zone.
Bullish Momentum and Price Targets
The 50-day moving average is trading below the price, confirming the bullish momentum. This could potentially propel the price past the $230 mark and target the previous resistance at $335.
RSI and Buying Pressure
The relative strength index (RSI) shows intense buying pressure as it rebounds from its neutral position of 50 and moves upwards towards the overbought region of 70. This raises the possibility of the RSI entering above the overbought territory.
Key Levels to Watch
BCH is on a bullish trajectory, with candlesticks trading above the 50-day SMA. Key levels to watch are $255 and $335, respectively. However, if the $230 resistance level remains resilient, bears may drive the price down to the 50-day SMA at $205.
Meme Kombat Stake Play and Earn Rewards
Meme Kombat (MK) is selling fast, reaching $103,001.49 in funding a week after its launch. The native token of Meme Kombat operates on the Ethereum blockchain and offers investors the opportunity to earn high returns through staking and play-to-earn gaming.
Play-to-Earn Gaming Opportunity
MK stands out from other meme coins by offering a blockchain network that combines memes and gaming. Participants can strategically engage in battles or observe them from the sidelines. The Meme Kombat Token ($MK) serves as the primary currency for the Meme Kombat arena game, automating battles, enabling wagering, and supporting staking for passive income generation.
Meme Kombat Tokenomics
During the presale, 12 million $MK tokens are available for purchase. 30% of the total supply is designated for staking and battle rewards, while 10% supports listings on decentralized exchanges and another 10% is allocated for community rewards.
Prominent Influencer Assessment
Prominent YouTube influencer Michael Wrubel recently shared his positive assessment of MK, indicating its potential despite the existence of previous meme coins.
Joining the Presale
To join the presale, connect your digital wallet and fund it with Ethereum, Bitcoin Cash, or Binance Smart Coin (BSC). Follow the instructions to purchase MK tokens and start trading on the MK platform.
Hot Take: Why Meme Kombat Is Making Waves in Crypto
Meme Kombat is disrupting the crypto market by combining memes and gaming on the Ethereum blockchain. With a strong focus on staking, play-to-earn opportunities, and innovative tokenomics, this project has attracted significant interest from investors. By offering unique features and engaging gameplay, Meme Kombat has positioned itself as a promising player in the meme coin space. Don’t miss out on this exciting project!
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.