The price of Mavia Hero has dropped by nearly 4% in the past 24 hours and is currently trading at $3.53, with a trading volume of 61% down to just $65.13 million. The price pullback comes just days after Mavia Hero airdropped tokens to 100,000 gamers and Ethereum NFT owners. Mavia Hero has received over 1 million downloads in just a few days.
The price of Hero Mavia is currently in a consolidation phase at $3 after a sharp rise from the $2.5 support level. After the $4.1 resistance level, the bears took control of the situation and caused Mavia to fall to $3.5. Currently, the price is below the 50-day Simple Moving Average (SMA), which is consistent with the downtrend. The Relative Strength Index (RSI) has decreased from 39 in the overbought zone to the oversold zone, indicating a possible bullish rebound towards the overbought zone.
Furthermore, the Moving Average Convergence/Divergence (MACD) line (blue) is slightly below the signal line (orange), suggesting a possible price reversal and rebound. The downward movement of the red bar shows the dominance of sellers, which may indicate a suitable entry point as the price of Mavia decreases. The Average Directional Index (ADX) is at 13.49, which is below 20, indicating a weak trend, however, overall, the movement is neutral.
A short-term analysis of the Hero Mavia price shows a bullish bias, suggesting a possible rebound. This view is supported by an ascending triangle pattern, which shows that the bulls are striving to break out of the consolidation area. The bulls seek to break out of the upper border of the triangle with the goal of breaking out of the $3.8 resistance level and aiming at $5. Conversely, strong bearish pressure could result in a retracement to the support levels of $2.8 and $2.5.
Meanwhile, as Mavia bulls seek clarity, Sponge V2 is emerging as a compelling presale project with the potential to deliver 100x returns.
If you missed out on the 100x increase in Sponge V1 last year, don’t worry, you still have a chance to grab its sequel, Sponge V2, before it goes public. Sponge V1 has over 13,000 holders and has reached a market cap of $100 million. Sponge V1 is also listed on more than a dozen major exchanges including LBank, BitMart, and Toobit. It has also attracted big names in the crypto space, such as Tron founder Justin Sun. Sun expressed interest in the potential memecoin trading, which led him to buy $SPONGE tokens, currently worth about $90,000.
However, Sponge V1 ceased operations on February 5, migrating 13,000 holders to the secure and efficient V2 on the Polygon network.
Stake $SPONGE V2 token and get rewarded. In addition, the project has introduced new features such as games that get paid to play, attracting more investors and players. The new upcoming game Sponge Racer has free and paid versions where you can race and get token rewards.
Crypto analyst Jacob Bury believes the project has the potential to grow 100x by the time it goes public and surpass the success of its predecessor, Sponge V1.
To participate in the presale, visit the official website of Sponge V2 and connect your digital wallet with ETH or USDT to exchange V2 tokens. You can also purchase directly with your bank card.
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