Shadow Token has gained more than 57% in the past 24 hours and is trading at $2.31 as investors rush to buy the altcoin. The surge in the value of the Solana token comes after leading U.S. cryptocurrency exchange Coinbase announced that it will list the cryptocurrency on its platform. Coinbase shared the news in a recent blog post and reiterated the platform’s commitment to expanding the number of assets available to Coinbase users.
Shadow Token price hits new all-time high
Shadow Token price managed to break through the $1.9008 resistance level in the past 24 hours and continues to trade at key price points. It also managed to break through the previous all-time high of $2.62 in the past trading day to reach a new high of $2.91. Traders subsequently took profits, resulting in a minor retracement.
Despite the slight pullback, SHDW may soon attempt to set a new all-time high as a positive trendline has emerged on its 4-hour chart. This comes after the altcoin printed several higher highs and higher lows in the past 12 hours. If this trend continues, Shadow Token price may have the momentum to turn the $2.91 resistance level into support. Traders can consider a sustained position above this threshold as a long position, which may propel the cryptocurrency to new highs in the next few days.
However, if the aforementioned trendline on the 4-hour chart is breached, this bullish breakout may be postponed and could result in a pullback in SHDW to the $1.9008 support level. If the sustained selling pressure continues, the Shadow Token price could drop to the next critical support level of $1.3758 over the next 24-48 hours. In an extremely bearish scenario, SHDW could even drop to the levels seen before its Coinbase listing, which is $1.0745.
Shadow Token price has good technical support
Technical indicators on SHDW's 4-hour chart are bullish but also show that the cryptocurrency is currently overbought. Recent trading activity has pushed Shadow Token price into a positive cycle, which can be seen from the moving average convergence divergence (MACD) line crossing the MACD signal line. SHDW's 4-hour relative strength index (RSI) is also above its simple moving average, indicating that buyers have the upper hand over sellers.
Traders will be watching closely to see if the RSI is above 85 to indicate that SHDW is overbought. This is often seen as a sell signal as the cryptocurrency has more downside potential than upside potential. While there is a risk that investors and traders may start to take profits and put selling pressure on the Shadow Token price, it is not uncommon for the RSI to remain at such high levels for a long period of time when the cryptocurrency is rising.
As Shadow Token prices attempt to soar to new heights, investors are looking to 5thScape for a potential 10x gain.
The world's first AR/VR tokenization platform
5thScape is an advanced AR/VR platform that differentiates itself from similar projects through tokenization using blockchain and crypto technology.
The foundation of the 5thScape ecosystem is the team’s belief that tokenization will push AR/VR technology to unprecedented heights. The project’s native token, 5SCAPE, will serve as a vehicle to realize this vision.
There will also be a dynamic staking pool that will receive some of the funds from players subscribing and paying for various virtual experiences. This pool will continue to grow as more players join, which will result in more rewards for holders of 5SCAPE tokens that have staked their tokens.
5SCAPE tokens are not only attractive to cryptocurrency investors, but also to gamers and developers. For gamers, 5SCAPE can serve as a universal and seamless value transfer medium that can unlock additional products and services within the project ecosystem.
On the other hand, developers can earn token rewards by contributing to the 5thScape platform and building games.
Investors are pouring money into 5thScape’s presale
5thScape has raised over $2.6 million in the first three stages of its presale and is set to surpass the $3 million milestone in the coming days.
Anyone who wants to purchase 5SCAPE can do so by simply navigating to the project’s website, connecting their wallet, specifying the number of tokens they want to purchase, and clicking Buy.
Leave the Limits! We have reached another milestone and entered our third round of pre-sales.
So join us on this journey into the future of AR/VR gaming.
#5thScape
# Pre-sale
# Augmented Reality
# Virtual Reality
pic.twitter.com/ZOkwg8s34E
— 5th Scape (@5th_scape)
March 26, 2024
The cryptocurrency is currently being sold for $0.00248 and can be purchased using ETH, USDT, BNB, MATIC or a bank card. However, investors need to act quickly as the price of 5SCAPE will rise in the subsequent stages of the presale.
The next price increase will occur in less than five days and will increase the cost of the coin by nearly 15% to $0.00285.
5SCAPE is available for purchase here.
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