RACA Rises to Impress with a 44% Surge - Is Bitcoin Minetrix the Next Star?

RACA Rises to Impress with a 44% Surge – Is Bitcoin Minetrix the Next Star?

Updated: 23 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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RACA price is trading at $0.0002235 after rising more than 45% over the last 24 hours. This crypto has displayed impressive performance over the last few days, rising 165% between Oct.19 and 23. It is up 150% over the last 30 days and trades 40% higher than its Jan. 1 opening.

The latest traction in the RACA price started on Thursday, Oct. 19, when this gaming crypto appeared among the most traded tokens within the BNB ecosystem.

Exciting to see #RACA shining bright among the top performers in the Most Traded Highlight Projects on #BNBChain in the last 24 hours. 🔥 #Web3 #Crypto https://t.co/3rGUTu7EQ6

— RACA.bab (@RACA_3) October 20, 2023

This has caught the attention of traders who jumped on to benefit from the growing price, with more than $63 million in trading volume coming in on Monday. As a result, RACA features among the top gainers, according to Coin Explorers.

Daily Gainers#RACA $RACA – 44.3%#Celsius $CEL – 22.0%#Tellor $TRB – 12.4%#AdventureGold $AGLD – 12.0%#Fantom $FTM – 11.5% pic.twitter.com/1EVjPabv4y

— Coin Explorers (@Coin_Explorers) October 23, 2023

Let’s analyze RACA’s price action over the last few days to determine where it could be headed next.

RACA Price Analysis – Key Levels To Watch

The $0.000090 demand zone provided a launching pad for RACA on Oct. 19 as it took off to stage a 166% rally to today’s intraday high of $0.000243, as shown on the four-hour chart below. This rally saw the cryptocurrency flip all major resistance levels back into support, including all the major moving averages (MAs). These were also facing upwards, an indication that the uptrend was strong.

In addition, the Moving Average Convergence Divergence (MACD) indicator was moving sharply upwards. Its position above the neutral line in the positive region reinforced the rally’s strength. Note that the call to buy RACA that was sent on Oct. 21 when the MACD line (blue) crossed above the signal line (orange) was still in play, suggesting that the market conditions favored the upside.

As such, the bulls will try to push the price higher from the current levels to return to today’s intraday high at $0.000243. Higher than that, the token may rise first toward the $0.00025 psychological level or the 127.2% Fibonacci retracement level at $0.000284. This would bring the total gains to 27%

RACA/USD Four-Hour Chart

RACA Price Chart - Oct 23 — TradingView Chart: RACA/USD

The Relative Strength Index (RSI) showed that RACA was massively overbought. As such, the ongoing rally could soon run out of steam coupled with buyer exhaustion. As this happens, sellers could book profits on the latest rally, triggering a correction.

RACA price may then drop from the current levels, with the first line of defense emerging from the 78.6% Fibonacci level at $0.000210. Additional lines of support lie at the $0.00020 psychological level, the 61.8% retracement at $0.000184, the 50% Fibonacci at $0.000166, and the 38.2% extension level at $0.000148.

Losing these food holds would decrease the price to revisit the $0.000090 to $0.0001225 level, where all the Exponential Moving Averages lie and the 23.6% retracement level.

Such a move would undo all the gains over the last few days and completely invalidate the bullish thesis.

It should be noted that cryptocurrencies remain highly volatile and that any gains made by the RACA price over the weekend may be lost in a matter of days. As such, investors could turn to new cryptos in presale with a low risk-to-reward ratio and the potential to make 10X returns. One of these is Bitcoin Minetrix (BTCMTX) which is discussed next.

RACA Alternatives

BTCMTX is the token powering the Bitcoin Minetrix ecosystem, which is still in the presale stage and auctioning for $0.0111 per token. The project is a stake-to-mine (S2M) ecosystem, with experts saying it could be 10X upon launch. Stakers earn credits that can be redeemed for mining hash power.

Stage two will end today after a successful run in the first stage. The window is closing fast, so interested investors should not waste more time. Buy BTCMTX using Ethereum (ETH), Tether (USDT) stablecoin, or your bank card.

Witnessing the level of Simplicity for #BitcoinMinetrix vs Traditional Cloud Mining: #BTCMTX: Buy with $ETH, $BNB, $USDT, or card. 💳

Traditional Cloud Mining: Complicated contracts. 📝#CryptoMining #BTCMining pic.twitter.com/EJkb24OGZ7

— Bitcoinminetrix (@bitcoinminetrix) October 21, 2023

As traders flock to this new crypto presale, the collections are going fast, with the presale raise having already crossed the $2 million mark.

Announcement! 📢#BitcoinMinetrix has achieved a monumental milestone, surpassing $2,000,000 raised!

We are now also less than 40 minutes away from the start of Stage 3! 🪙 pic.twitter.com/iZENKYsxcd

— Bitcoinminetrix (@bitcoinminetrix) October 23, 2023

Visit Bitcoin Minterix here to buy BTCMTX tokens before the price increases.