The global crypto market cap jumped a few percentage points to $ 2.64 trillion from the last day. However, the total crypto market volume was almost unchanged at $ 130.91 billion.
Polkadot jumped more than 15% and set a new all-time high by breaking the $ 50 mark last night ahead of its upcoming parachain auction, ZebPay Trade Desk said.
Squid Game (SQUID), the latest memecoin sensation, inspired by the Netflix hit, jumped over 230,000% last week to $ 2,861.80, according to pricing from CoinMarketCap – only to plunge 100% at less than one. half a cent.
Bitcoin has been limited in range over the past few days. There appears to be a slight slowdown in the bullish sentiment seen two weeks ago when prices hit $ 66,900, the CoinDCX research team said.
“The Meta-themed rally kicked off after the rebranding of Facebook Metaverse, with momentum showing no signs of abating as the new week approaches,” he added.
Technical view by Giottus Cryptocurrency Exchange
As metaverse fever grips the crypto universe, the market is showing a strong appetite for projects like Decentraland. Decentraland is a platform running on the Ethereum blockchain that allows users to buy and sell virtual real estate, interact with, and play with other users. This is perhaps the ideal example of a metaverse. MANA is the token that enables commerce within its platform.
The MANA went from a low of $ 0.67 in October to over $ 4.5 at the end of the month. That’s an incredible 570% of returns. Since then it has seen a minor correction, with the token currently trading around the $ 3 mark. Some consolidation is healthy for future rallies while still giving the token the opportunity to cool its RSI – currently sitting at 75 on the daily charts.
With most of its moving averages being significantly lower, MANA does not immediately benefit from strong support other than the daily levels and Fibonacci retracements of its recent correction. However, around $ 2.3 there is a gold pocket that should provide some support.
For MANA to resume its uptrend, it will need to maintain trendline support and will have to fight resistances at $ 3.12 and $ 3.47.
Pickup: $ 2.8, $ 2.55, $ 2.29
Resistance: $ 3.47, $ 3.75
(The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in the asset (s) mentioned.)