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CTXC, the native cryptocurrency of the AI-focused smart-contract-enabled Cortex blockchain, is down close to 10% on the day on Friday in highly volatile trade. Since the 8th of December, CTXC has been trading in highly volatile fashion, with volumes also significantly higher than normal.
That’s probably because back on the 8th of December, CTXC experienced an important technical breakout from a downtrend that had previously been capping its price action since July. At current levels around $0.165 per token, CTXC is trading with gains of over 130% versus its November lows in the $0.07 region. The breakout saw CTXC surge above all of its major moving averages.
Some traders on Twitter have put the rally partially down to the increased global interest in artificial intelligence technology in wake of the release of OpenAI’s chatGPT chatbot, whose breadth of skills, knowledge and abilities has left the world in shock and awe.
$CTXC es realmente fuerte. El concepto de #IA #Cortex activado por #chatGPT tiene como objetivo crear un sistema autónomo de IA verdaderamente descentralizado.
Cortez está encendido 🚀🧑🚀🎆 pic.twitter.com/ZLwVmklD09
— Luis Irigoyen (@luisirigoyenp) December 9, 2022
Price Prediction – Short-term Bullish Momentum Fades
After its bullish breakout earlier this month, CTXC formed a flag technical pattern. It broke out of this pattern to the upside recently, but the bullish flows have been unable to continue. CTXC has turned lower again amid selling pressure across the broader cryptocurrency space as traders fret about this week’s highly hawkish Fed policy meeting.
Should the broader bearish momentum continue in the cryptocurrency space, CTXC is at risk of breaking below an important short-term uptrend. This could trigger a quick drop towards support in the $0.1320-60 area and perhaps onto the 21 and 200-Day Moving Averages in the $0.12 area.
Altcoins Offering Quicker Returns
Cryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.
FightOut (FGHT) – Presale Launches
FightOut, a brand-new move-to-earn (M2E) fitness application and gym chain that seeks to bring the fitness lifestyle into web3, has opened its pre-sale and investors think the project could transform the existing web3 M2E landscape. While existing M2E applications such as StepN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.
FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.08 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $9.9 million. The pre-sale dashboard is going to be released on Friday, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.
Calvaria (RIA) – Final Presale Stage Now
Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.45 million, with a crypto whale scooping up $97.5K in one purchase last week. The presale is in the final stage, with only 21% of tokens left.
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