Metacade price: MCADE signals bullish flip with bounce above key technical level
Metacade price has jumped 4% in the past 24 hour as bulls bounced off a key support level.
With Metacade building the ultimate Web3 hub, interest in MCADE could see its price rally in coming months.
The price prediction for Metacade however also takes into account potential headwinds around broader risk asset markets.
Metacade price has bounced off a key support level to give bulls some joy. The token is currently trading at $0.021, up 4% in the last 24 hours. MCADE/USD is up 20% in the past week, while the 24-hour trading volume is $226,368, up 57%.
Price has given up even more gains before, which means profit taking is likely to curtail bulls’ movement. But can buyers establish a footing and rebound even higher, especially with Metacade building the ultimate Web3 hub and MCADE available to the broader market after hitting major cryptocurrency exchanges?
Metacade price prediction
At current price levels, MCADE looks like a solid buy. The rally to the all-time high above $0.045 occurred just this month and a few days after the token’s successful presale. Since then, bulls have held impressively above $0.020.
Today’s bounce alongside the upside flip for Bitcoin price suggests a new bull run for the market could see MCADE surpass its peak. This Metacade price prediction means MCADE could see more than 50% in upside bounce to $0.045.
Aiding this short term view further is the daily RSI signaling a potential breakout from the neutral position. Also, the key support level that Metacade bounced off of is a horizontal line near $0.020 that has been a robust pillar for MCADE bulls.
If they can continue to push the price higher, the next target could be $0.026. However, the 20-day moving average line is currently slopping to suggest it might offer an area of crucial resistance at $0.022 and $0.025. Its possible MCADE could see a 50% surge to $0.045.
Overall, Metacade’s price is currently poised for a bullish flip. However, if the price rejects at the 20-day moving average, then it could fall to support levels beneath the psychological $0.020.
What is Metacade?
Metacade is a new community-driven gaming arcade powered by blockchain technology and Web3. The Ethereum-based game platform is being developed as the ultimate hub of play-to-earn (P2E) games. At its core is the objective of making Metacade the home of metaverse arcade games, bringing together game developers, players and crypto enthusiasts.
Designed to cater to all types of gamers, Metacade’s arcade platform will have everything from casual games to competitive tournaments.
The platform users will leverage the utility of the native MCADE token to tap into earning opportunities. Governance, staking and trading of MCADE all combine with an extensive array of games from different developers and studios to give token holders even more ways to benefit from their investment.
Will Metacade price reach $5 in 2024?
This is like asking: Is MCADE a buy still and what’s the long term outlook for Metacade’s price?
Like other altcoins and cyptocurrencies, Metacade price can be extremely volatile and thus difficult to predict with certainty where it trades next. However, as highlighted by the short term price prediction, price has the potential to rally to new highs in coming months.
For a long term outlook of Metacade price, it would be important to focus on the likely catalysts for further growth and demand of the token down the road. Having reached $0.045, the main targets in the short term are likely to be $0.1 and $0.5. These levels could be hit in 2023 or 2024 given the market cycles.
The $5 price level is also achievable in 2024 or in the medium term given how tokens like Axie Infinity, The Sandbox and Decentraland raced to their all-time highs during the last bull market.
However, it might be unrealistic to expect MCADE to roar to $5 this year.
What could catalyse a new Metacade price rally?
MCADE is a relatively new token, but is showing a lot of potential given its growing community. What’s likely to catalyse fresh gains for the token include the overall bounce in crypto markets amid a new bull cycle, turbulence in traditional finance that sees risk appetite shift more to cryptocurrencies and a resurgence in investor interest in crypto gaming tokens.
Apart from a unique approach to the P2E gaming ecosystem, there are a few other strengths that could aid in MCADE demand.
Notably, Metacade is backed by a strong team that is focused on delivering the Web3 experience for users. It also has a clear roadmap – with key milestones such as the presale, exchange listings and platform development reached – as outlined in the project’s whitepaper.
The token is also designed to be used across a growing gaming ecosystem, which could see increased demand as its public launch approaches.
If you are considering buying MCADE, then do your own research. You can start by visiting the Metacade website for more information about the project, team and roadmap.
The post Metacade price: MCADE signals bullish flip with bounce above key technical level appeared first on CoinJournal.
