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The GameStop price surged more than 54% to trade at $0.0052 as of 12:20 a.m. EST as investors bet big on the altcoin.
The jump in the GSTOP price also enabled it to establish a new all-time high (ATH) of $0.007001.
The GameStop Price Is Attempting To Break Another Resistance
4-hour chart for GSTOP/USD (Source: GeckoTerminal)
The GameStop price was able to overcome the $0.005924 resistance level in the last 24 hours and is now attempting to establish a position above this threshold. Should the altcoin close the next two consecutive 4-hour candles above this mark, it might have the technical foundation to continue rising in the short term.
Traders could identify a sustained position above $0.0005924 as a long entry. This potential influx of buy pressure might push the GameStop price above the subsequent obstacle at $0.007536 in the following 24 hours. GSTOP could then enter into a price discovery phase towards the upside.
On the other hand, the GameStop price closing a 4-hour candle below $0.005924 within the next 12 hours might invalidate this bullish thesis. In this alternative scenario, the altcoin could be at risk of testing the next key support level at $0.004070.
However, before GSTOP can potentially fall to this technical crutch, it will need to cross below the positive trend line that has emerged on its 4-hour chart.
The GameStop Price Might Be Losing Its Bullish Backing
Technical indicators on GSTOP’s 4-hour chart suggest the presence of buyer strength, but also warn that the bullish momentum might be approaching a peak. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators show that buyers have the upper hand against sellers.
Firstly, the RSI is above 50, which is considered a bullish sign. Meanwhile, the MACD line is positioned above the MACD Signal line. Traders usually see this as an indication that a crypto is in a positive cycle.
There are, however, bearish signs that are starting to appear on GSTOP’s 4-hour chart. The RSI is sloped negatively as the altcoin attempts to overcome the $0.007536 resistance. This could be an early sign that buyers are leaving the altcoin’s charts and the GameStop price might not have the necessary bullish backing to break above $0.007536.
What’s more, the MACD Histogram is starting to level off, which could suggest that GSTOP’s positive momentum is reaching a peak and might subsequently cool off soon.
Because GSTOP’s bullish momentum might ease, some investors are pivoting to Mega Dice (DICE) for potentially parabolic gains.
Supported By An Established Brand
Unlike other newly-launched cryptos, DICE is backed by a reputable and fast-growing online crypto casino with more than 50k players. This exposes the token to a large pool of potential investors.
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With over 4,000 games and more than 50 sports games offered on the platform, the Mega Dice casino is looking to expand its offering by introducing its own crypto token. Through DICE, investors stand the chance to earn daily rewards that are based off of the casino’s performance.
Since the casino already experiences over $50 million in monthly wagering, anyone who buys DICE at this early stage could start earning lucrative rewards from the get go.
In addition to the potential to earn daily rewards, presale buyers will also receive early bird bonuses, while limited edition NFTs that give access to special privileges and more rewards will be sent to randomly selected investors.
Investors Are Betting Big On DICE
Investors have sent more than $1 million to the DICE presale already. With so many rewards up for grabs, it’s easy to see why the casino token’s ICO is performing so well. Crypto YouTuber Michael Wrubel recently analyzed the altcoin’s potential to generate substantial returns for its investors, and said he is bullish on the token.
Another possible reason that analysts and investors are so excited about DICE could be the massive $2.25 million airdrop campaign that is currently running and that is split into three seasons with each giving away $750k. All you need to do to qualify is wager over $5k in 21 days.
Selling for $0.075, DICE can be bought using either SOL, ETH or BNB.
Purchase DICE here to stand the chance to earn daily rewards.
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