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The Credefi price jumped 33% in the last 24 hours to trade at $0.0496 at 3 a.m. EST on trading volume that skyrocketed by over 506% to $5.65 million.
While the token’s price surge in the last 24 hours is impressive, it pales in comparison to its 578% leap in the past month.
The project’s surge likely came as a result of the launch of Credefi’s testnet, announced on March 29. That brought attention to the project at the same time as Credefi updated the community on some other developments.
March was a bustling month for Credefi Finance, marked by significant milestones and exciting developments:
1. CryptoExpoEurope: Our team actively participated in Crypto Expo Europe, engaging with numerous like-minded individuals and establishing valuable connections for future… pic.twitter.com/sXC3CUNGsk
— Credefi (@credefi_finance) April 1, 2024
The project had a busy month and is now seeing a price surge as much of the market trades in the red.
Credefi Price Prognosis
While Credefi has seen a considerable price surge that took it almost halfway to its former ATH, it does seem like the market-wide correction has somewhat limited the token’s ability to progress. Traders are now turning to technical indicators to try and predict where the price would go next.
Right now, indicators like the token’s Bollinger bands suggest that it is time to buy. The bands are extremely wide at the moment, with the lower one being at $0.03855 and the upper one being at $0.05335, with the price sitting about halfway between the two.
The token’s Relative Strength Index (RSI) value, however, shows that CREDI is starting to struggle a bit. After previously going from the oversold zone yesterday morning into an overbought zone a few hours ago, RSI reached the value of 75.19, only to then start a descent.
At the time of writing, it is dropping toward the neutral zone once more, with its value currently at 58.74. This means that traders have started to sell, and that the bearish pressure is increasing.
Given that this is in contradiction with the performance of the bands, it can mean one of two things — either the bands have not yet started to display the change in the market, or this might simply be a small, temporary dip as some traders moved to take profit, while others intend to remain bullish on CREDI for the time being.
For the moment, CREDI’s price remains between a strong support at $0.045 and a strong resistance at $0.050, and while it does not have a lot of room to move, chances are that one of these two levels will soon break. Despite the token’s positive performance and no shortage of positive developments in March, the market-wide bearish wave will likely catch up to it soon.
Promising Alternative to Credefi
One of the best alternatives to Credefi right now is the world’s first AR/VR crypto project known as 5th Scape (5SCAPE). While the two are not in the same arena — Credefi tackles DeFi and lending — 5th Scape is certainly one of the best opportunities around right now.
The project intends to be the gateway to the next big thing of the decade. Its goal is to erase the boundaries of what can be done in the virtual world, which is practically infinite.
Of course, the experience is the primary concern, which is why the project focuses on building hyper-realistic worlds in VR.
It believes that this technology could be a game changer when it comes to gaming, education, and more, all while heightening experiences for the user. Best of all, it is still in presale, so it is not too late to join and become an early investor.
GET YOUR TOKENS NOW!!!#vr #5thscape #cryptocurrency #Presale pic.twitter.com/4t4cIrP0St
— 5th Scape (@5th_scape) March 28, 2024
The presale has already raised $3.5 million and is about to conclude Stage 3. Right now, the price of 5SCAPE is $0.00248 per token, but once Stage 4 kicks off, it will increase by 15% to $0.00285.
With the listing price fixed at $0.01, investors who buy now can lock in gains of 303% by the time of listing. In other words, now is the best time to buy and watch it grow before it even reaches the market.
If you decide to get involved, you can buy it with your card, or in exchange for ETH, USDT, BNB, or MATIC.
Visit the 5SCAPE presale here.
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