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Multichain native coin MULTI has discouraged investors recently due to its bearish price performance. In the last 24 hours, the coin has decreased by more than 3%.
Investors and traders are speculating if the price will plummet further.
Multichain Price Action
Since April 12, the coin has been on a bearish trend, dropping from $12 to $3.34 by May 28. According to CoinGecko, over the last 30 days, Multichain has decreased by 45.21%. In the last 14 days, the coin decreased by 18.7% alone.
Following these bearish moves, a slight recovery in the coming month might be possible if investors consider buying the dip.
Technical Indicators Show Potential Trend Reversal
As shown in the chart, the price approaches the middle band of the Bollinger Bands after testing the lower band suggesting a potential trend reversal or price correction.
An RSI reading of 29.9 suggests that the asset’s price has fallen beyond the oversold region of 30, hinting at a higher probability of a trend reversal in the near term.
Notably, the Moving Average Convergence Divergence (MACD) trades above the signal line, indicating that the bulls are now in the market.
Also, the histogram bars of the MACD show strong green candles today, supporting the imminent trend reversal. The RSI and MACD suggest that the asset might gain instead of plummeting further.
Factors That Could Affect MULTI Price
Multichain has Twitter followers of over 20,000 individuals, which can positively affect its price and overall perception of the market. A sizable Twitter following can create a positive market sentiment around the coin.
Positive tweets, endorsements, and community engagement may instill confidence in potential investors. Also, important news or developments related to the coin can quickly spread through the community, impacting the coin’s price in real-time.
A large following typically indicates an active and engaged community. Such a community may drive discussions, partnerships, and collaborations, positively affecting the coin’s ecosystem.
Recent Development Within The Multichain Ecosystem
In a recent development, Multichain expressed gratitude to its partner PowerCity for its relentless efforts in promoting the adoption of PulseChain. According to them, the partnership will facilitate connectivity to multiple blockchains via portalxswap.io.
A pleasure to work with the @POWERCITYio to connect Pulsechain to the Multiverse https://t.co/FeDbZPfWyp
— Multichain (Previously Anyswap) (@MultichainOrg) May 24, 2023
The announcement can create a positive sentiment around the coin, encouraging investors to view it favorably and potentially increasing buying interest. While Multichain holds strong future potential, the green meme coin Chimpzee is another alternative investment you should consider.
Chimpzee – Earn Income While You Fight Climate Change & Save Animals
Chimpzee presents itself as a web3 initiative that allows holders to support environmental and wildlife conservation while earning rewards. The project has garnered significant attention from crypto and traditional communities focused on wildlife protection.
During the presale, investors can acquire CHMPZ tokens and receive the Chimpzee NFT passport, granting access to rewards like passive income and exclusive privileges.
As a promising environmentally friendly project in Web 3.0, predictions suggest potential returns for early investors by Q4 2023.
Chimpzee Features
The Chimpzee ecosystem offers diverse ways to earn rewards: Shop-to-Earn, Play-to-Earn, Trade-to-Earn, and the NFT Passport.
Chimpzee Presale Activities
Chimpzee’s token presale has smashed a notable record, raising over $1 million and selling more than 1.6 billion CHMPZ coins. The presale is currently in phase 8, where the chimpzee token sells for $0.00075 each.
🚀 BIG NEWS!!! 🎉
🙌We did it, we have reached our 1 Million goal raise!🌳
🎊A Massive thank you to the phenomenal #ChimpzeeArmy!💪
🌿Goal to burn 50 billion $CHMPZ tokens has been achieved!🔥
💰Earn Income, Save Forests & Animals with #Chimpzee starting today!💚
Don't wait,… pic.twitter.com/BjJ9CWAfPh
— Official Chimpzee Project (@RealChimpzee) July 28, 2023
Following the end of the presale, CHMPZ will be listed on several exchanges at $0.00185 per CHIMP. Chimpzee’s presale has 7 days left, generating excitement and urgency for eco-friendly investors to participate.
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