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MINA, the native token that powers the privacy-focused Mina Protocol blockchain, saw a sharp rally on Wednesday. At one point, MINA/USD was up 12% on the day, reaching peaks near $0.54 per token. But the cryptocurrency has since faded to trade closer to $0.50, where it now only trades higher by just over 4.0% on the day and is back below its 50-Day Moving Average at $0.507.
The bulls really got kicking when MINA broke to the north of resistance in the $0.495 area. But they seemingly ran out of steam after a failure to push the price above the near major area of resistance around $0.53, with sell pressure coming in ahead of the 100DMA at $0.55.
Price Prediction – Where Next for MINA?
But MINA’s longer-term technical outlook looks more positive. MINA’s near 20% rally from its earlier monthly lows in the $0.42 area have seen it break back to the north of a long-term downtrend that had previously been acting as resistance to the price action. While MINA is now facing resistance from a shorter-term downtrend linking the mid-November to mid-December highs, the cryptocurrency may well be building the foundations for a bigger push towards its 200DMA in the $0.62 region.
That’s assuming the broader crypto market rally continues, which is no guarantee. Incoming US Consumer Price Inflation data out on Thursday will be the key. If inflation falls substantially, as most expect, this should underpin the idea that the Fed will have room to begin cutting interest rates in late 2023/early 2024 in order to support the already flagging US economy. That could reignite the crypto rally and see MINA on its way back toward this week’s highs.
Altcoins to Consider
With cryptocurrency markets generally having performed poorly in recent weeks, investors might be looking to diversify their holdings with the discounted presale tokens of some promising, up-and-coming crypto projects. Here is a list of a few that analysts at InsideBitcoins think have the potential to perform well.
FightOut (FGHT) – Presale on Now
The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. FightOut, which touts itself as the future of move-to-earn, wants to change that in 2023. FightOut is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges and competing within a first-of-its-kind fitness metaverse.
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 seeks to combine the physical and web3 worlds.
The project aims to eventually acquire gyms across all of the world’s major cities, whilst simultaneously promoting an integrated web3 fitness experience. At the center of FightOut’s digital ecosystem will be its smartphone application which, according to FightOut’s whitepaper, is scheduled for launch in Q2 2023.
The FightOut app will harness smartphone and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can mint their own soul-bound token avatar, through which the user will be able to interact with the FightOut metaverse.
FGHT is the token that powers the FightOut metaverse ecosystem. Users will pay to enter competitions and leagues with FGHT, and winning will be paid out in FGHT.
FGHT can also be used in peer-to-peer fitness wagers. 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 $2.8 million in just a few weeks. FGHT is the token that will power the FightOut crypto ecosystem.
Calvaria (RIA) – Pre-sale Nearly Over
RIA, the token that will power afterlife fantasy-themed NFT battle card game Calvaria, is also currently in presale. The play-to-earn (P2E) crypto gaming start-up has raised a whopping $2.7 million in just a few months since the launch of its pre-sale. Only around 12% of its tokens remain up for grabs.
Calvaria seeks to bring crypto gaming into the mainstream by tapping into a huge, existing market – the market for physical battle card games (think viral sensations of the past like Pokemon and Yu-Gi-Oh). And with the crypto gaming space expected to grow from $4.6 billion in size in 2022 to $65.7 billion in size by 2027, according to an analysis by Markets and Markets, there is plenty of room for massive growth. Calvaria is set to launch its headline fantasy-themed card game “Duels of Eternity” in Q2 2023.
C+Charge (CCHG) – Presale Now On
The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.
C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.
C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale, this will have risen by 80%. Investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast, with the project having already raised over $240,000 in just a few weeks since the presale launch.
Investors should note that the remaining tokens could be scooped up quickly. A crypto whale recently scooped up over $99 worth of CCHG in one transaction, as can be verified here on BscScan.
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