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The Shadow Token price rallied over 57% in the last 24 hours to trade at $2.31 as of 9:15 a.m. EST as investors rush to buy the altcoin.
The surge in the Solana token’s value follows an announcement by Coinbase, the leading U.S. crypto exchange, that said the platform will list the crypto on its platform. Coinbase shared the news in a recent blog post that reaffirmed the platform’s commitment to expanding the number of assets made available to Coinbase users.
The Shadow Token Price Sets A New All Time High
4-hour chart for SHDW/USDT (Source: TradingView)
The Shadow Token price managed to break above the $1.9008 resistance level in the last 24 hours, and continues to trade above the key price point. During the past day of trading, it was also able to break its previous all-time high at $2.62 to reach a new peak at $2.91. Traders have since taken profit, causing a minor retracement.
Despite the slight pullback, SHDW could soon attempt to set another new all-time high as a positive trend line has emerged on its 4- hour chart. This was after the altcoin printed a couple of higher highs and higher lows in the past 12 hours. Should this trend continue, the Shadow Token price might have the momentum needed to flip the $2.91 barrier into support. A sustained position higher than this threshold could then be identified as a long position by traders, which might push the crypto to new heights in the following days.
A break below the aforementioned trend line on the 4-hour chart might postpone this bullish breakout, however, and could be followed by SHDW correcting down to the $1.9008 support. Continued sell pressure may then lead to the Shadow Token price plummeting to the next key support level at $1.3758 in the following 24-48 hours. In an extremely bearish scenario, SHDW might even fall to pre-Coinbase listing levels to $1.0745.
The Shadow Token Price Has Good Technical Support
Technical indicators on SHDW’s 4-hour chart are flagging bullish, but do show that the crypto is currently overbought. Recent trading activity has pushed the Shadow Token price into a positive cycle, which can be seen with the Moving Average Convergence Divergence (MACD) line that is breaking away above the MACD Signal line. SHDW’s 4-hour Relative Strength Index (RSI) is also positioned above its Simple Moving Average, indicating that buyers have the upper hand against sellers.
Traders will want to keep an eye on the RSI as it hovers above 85 to indicate that SHDW is overbought. This is normally seen as a sell signal because the crypto’s downside potential is greater than its upside potential. Although there is the risk that investors and traders might start to realize profit, exerting sell pressure on the Shadow Token price as a result, it is not unusual for a crypto’s RSI to remain so high for sustained periods of time when the crypto is pumping.
As the Shadow Token price attempts to soar to new heights, investors are turning their attention to 5thScape for potential 10X gains.
World’s First AR/VR Tokenization Platform
5thScape is a cutting-edge AR/VR platform that separates itself from similar projects through its inclusion of tokenization powered by blockchain and crypto technology.
At the foundation of the 5thScape ecosystem is the team’s belief that tokenization will elevate AR/VR technology to unprecedented heights. The project’s native token, 5SCAPE, will be used as the vehicle to make this vision become a reality.
There will also be a dynamic staking pool, which will receive part of its funding from player subscriptions as well as payments made for a variety of virtual experiences. This pool is set to grow as more players get onboarded, which will then lead to more rewards for token holders who have staked their 5SCAPE tokens.
5thScape’s token not only appeals to crypto investors, but gamers and developers as well. For gamers, 5SCAPE can serve as a universal and seamless value transport medium that can unlock additional products and services within the project’s ecosystem.
Developers, on the other hand, can earn token rewards by contributing and building games on the 5thScape platform.
Investors Are Pouring Money Into 5thScape’s Presale
5thScape has raised more than $2.6 million in just the first three phases of its presale, and is well on its way to surpass the $3 million milestone in the next few days.
Anyone that wants to purchase 5SCAPE can do so by simply navigating to the project’s website, connecting their wallets, specifying the amount of tokens they want to purchase, then clicking buy.
Leaving limits behind! 🚀 We have hit another milestone and has entered the 3rd round of our presale.
So join us on this incredible journey into the future of AR/VR gaming.
#5thScape #Presale #AR #VR pic.twitter.com/ZOkwg8s34E— 5th Scape (@5th_scape) March 26, 2024
The crypto is currently selling for $0.00248, and can be bought using either ETH, USDT, BNB, MATIC or bank card. Investors will want to hurry though, since 5SCAPE’s price is set to increase in the subsequent phases of its presale.
The next price increase will take place in less than five days, and will push the token’s cost up almost 15% to $0.00285.
5SCAPE can be purchased here.
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