February 25, 2024

The crypto market has succumbed to bearish pressure today, October 3, recording a 2.5% retracement as of 6:23 AM EST. This retracement is evident in the slumping prices of Bitcoin and Ethereum today, which have dipped over 2% and 3%, respectively. 

The ongoing market retracement stemmed from the negative sentiments triggered by the disappointing launch of Ethereum exchange-traded funds (ETFs). Notably, this launch may signal a fading interest in crypto investment for some traders due to the risk involved. 

As a result, Bitcoin slipped below $28,000 while Ethereum regressed from its new-found $1,700 support, dragging most altcoins with them. Despite the market retracement, some altcoins still record impressive gains due to remarkable events within their ecosystem.

Today’s top gainers include BSV, GALA, MNT, MK and BTCBSC. 

Bitcoin SV (BSV) – The Scalable and Efficient Blockchain 

BSV’s price at 6:54 AM EST is $40.4, with a 6.75% increase in the past 24 hours and a 31.1% gain in seven days. BSV rallies are indirectly linked to a Tweet from a user claiming to be Satoshi Nakamoto, Bitcoin’s founder. 

According to the Tweet, Bitcoin is a predicate machine and still needs some improvements not written in the whitepaper. Although controversy surrounded this Tweet, investors are bullish on Bitcoin SV being the token to align with Satoshi’s plans. 

Bitcoin SV is a fork of the original Bitcoin blockchain that aims to preserve Satoshi’s original vision for Bitcoin. So, the tweet affected its price trajectory due to its relationship with the main Bitcoin BTC. 

Despite the controversy, BSV seems unfazed and continues to rise on the daily chart, showing massive accumulation. Also, its trading volume is up by 110% in the last 24 hours. BSV gas formed four consecutive green candles on the daily chart as the buyers continued to dominate. 

BSV Testing $40.4 Resistance Level Will We See a Break Above Soon?

BSV is in an uptrend on the daily chart after flipping the $32.6 resistance and converting it to support. BSV is testing the $40.4 resistance level with the upper wick breaking above the resistance level. 

Also, the Moving Average Convergence/Divergence (MACD) is above its signal line and shows a strong buy signal. Furthermore, the MACD’s green Histogram bars confirm this buy signal and the ongoing accumulation. However, the Relative Strength Index (RSI) indicator is already in the overbought zone, displaying a value of 82.6.

Therefore, this calls for caution among traders seeking to open new long positions as buyers will likely take profits soon. Based on the fact that BSV is already overbought, a decline will likely occur in the coming days for consolidation. 

Gala (GALA) – The Gaming Ecosystem Powered By Ethereum

 GALA’s price on October 3, at 8:08 AM EST, is $0.016, with a 4.8% spike in the last 24 hours. Also, it is up by 19.5% in the seven-day timeframe. 

Gala, continuing its quest for innovative developments in the gaming sphere, might trigger these price gains, for instance, on October 2. Gala Games announced the rebranding of Common Ground World, a popular game. 

This upgrade will eliminate gas fees or cash requirements for gamers and boost speed and user experience. Also, two new NFTs will be introduced into the game: The Composting Facility and Common Ground Academy. 

GALA token recorded gains in the past week based on its gaming utility. However, a slight retracement on the daily chart is ongoing as sellers seek to seize control. 

GALA Facing Resistance At $0.016 As Buyers Continue Accumulation

GALA has formed a bullish engulfing pattern on the daily chart, attempting to shake off bearish pressure from October 2. The $0.013 support level helped GALA to rally as it attempted to overcome the $0.016 resistance level. Notably, a close above this level will send GALA’s price to the overbought zone.

Also, the upper wick of today’s candle is breaking above the 50-day Simple Moving Average (SMA). This implies that the buyers will likely continue to dominate the market in the coming days. 

In addition, the RSI displays a value of 56.9 and is rising out of the neutral zone as it approaches the overbought zone above 70. If the RSI gets to 60, it will raise the asset further. 

Based on historical price behavior, GALA will likely rally to $0.02 if it breaks above the $0.016 resistance level. However, it is still trading below its 200-day SMA, hinting at a long-term retracement for the asset. 

Mantle (MNT) – The Layer-2 Scaling Solution

MNT traded at $0.41 on October 3 at 8:10 AM EST, with a slight decline in its price in the last 24 hours. Nevertheless, its seven-day gains stand at 5.6%. Mantle released a report on Q3, 2023, with impressive statistics.

According to the report, close to 200,000 active users are on the layer, and over 10 million transactions are processed. Also, it currently has a Total Value Locked (TVL) of $87.2 million, with its all-time high recorded on August 8 at $92.2 million. 

Moreover, Ninety-four projects, including DeFi, Gaming, NFT, and other sectors, joined the Mantle ecosystem, indicating increased network relevance and activity. Remarkably, the first native NFT collection, Citizens of Mantle, launched in July 2023, boosting the overall value of the ecosystem. 

Also, new proposals, grants, and hackathons took place in the ecosystem, likely contributing to its price gains. MNT may continue its uptrend as more buyers seek to accumulate the token based on its rising utility. 

MNT Holds Onto Its Gains On The Daily Chart. Will The Buyers Prevail?

MNT has formed its sixth consecutive green candle on the daily chart as the buyers attempt to sustain its rally. Also, the asset found support at $0.39, which prevented a price decline in the past few days.

Meanwhile, MNT faces resistance at $0.42 with the upper wick of its candle today, struggling to break above this level. The struggle at the resistance level implies that the sellers are still active, and some buyers are taking profits, leading to price volatility. 

Notably, the RSI indicator is rising out of the neutral zone, displaying a value of 54.6. If MNT overcomes the $0.42 resistance, the RSI will move to the overbought region of 70. 

Additionally, the MACD is above its signal line, displaying a buy signal, and the green Histogram bars confirm this signal. MNT will likely break above the $0.42 resistance if the buyers sustain their momentum. 

Meme Kombat (MK) – The Utility Ecosystem For Gamers

Meme Kombat is an exciting crypto project that seeks to reward gamers, gamblers, and other investors. It operates on the Ethereum blockchain and utilizes its secure framework to execute exciting gameplay. 

Notably, users who hold the $MK utility token will gain access to the full benefits of the platform.

>>>Visit Meme Kombat Presale<<<

These benefits include automated battles, staking for passive income, and wagering or betting. 

MK Presale Ongoing as It Crosses The $200,000 Milestone

The $MK tokens are on presale, each valued at $1.667. Today, October 3, over $233,000 has been raised out of the presale goal of $1 million. 

Users can opt to purchase the tokens with ETH or USDT

Bitcoin BSC (BTCBSC) – The Staking Ecosystem for Passive Income

>>>Visit Bitcoin BSC Presale<<<

BTCBSC’s price on October 3, at 8:20 AM EST, is $0.01783, with a 34.9% increase in the last 24 hours. Also, its trading volume is up by 16%, indicating rising interest from buyers. 

BTCBSC presale concluded in September, and it’s trading on the PanCakeSwap crypto decentralized exchange. The Crypto asset was listed on CoinMarketCap on September 27 after a successful presale stage for early investors. 

Notably, the presale raised over 5.2 million, and BTCBSC will go live on reputable exchanges on October 4 at 9 AM UTC. 

However, its staking feature is still available for the new few hours for users who wish to earn passive income. Staking makes BTCBSC eco-friendly and likely to enjoy massive adoption after listing. 

BTCBSC Buyers Still Accumulating On Hourly Chart 

BTCBSC is in an uptrend on the hourly timeframe as buyers accumulate the tokens. Also, it found critical support at $0.019 and is attempting to break above the $0.021 resistance level. 

A break above this resistance level will send BTCBSC closer to its all-time high value of $0.03. Notably, BTCBSC trades close to the upper band of the Donchian Channel (DC), confirming the positive price sentiment. 

Furthermore, the RSI is close to the overbought zone and displays a value of 64.4. The RSI will enter the overbought zone if the buyers sustain the pressure. Additionally, the MACD confirms buyers return after profiting from the early surge. 

However, the fading Histogram bars hint at a possible retracement if BTCBSC fails to break above the $0.21 resistance level. BTCBSC will likely continue to record price gains till the buyers begin to take profit, forcing a price decline. 

Conclusion 

Despite today’s crypto market dip, some tokens still record impressive gains due to positive investor sentiments. Also, crypto assets’ rising utility and adoption give them additional relevance and value. 

Nevertheless, investors must be wary of emotional trading decisions to avoid massive losses. Also, research and risk management are valuable tools for successful trading. Furthermore, with the focus on building in various crypto ecosystems, they will likely remain relevant now and in the future. 


TikTok Coin Hack: A Comprehensive Overview
Le changement de jeu ultime : Les pièces gratuites sur TikTok
Expert Recommendations: Coin Master Free Spin Hack
The Science of Avacoins Farming in Avakin Life
Free TikTok Coins: The Game Changer
Comprendre les générateurs de pièces TikTok : Mythes vs réalité
Mastering the Art of Earning Free Coins in LivU Video Chat
Earn Free Spins in Coin Master Like a Pro
Avakin Life Avacoins Farming Techniques: Unveiled
Free Credits in Bingo Blitz: The Ultimate Game Changer
Coin Master Spins Farming: Tips for Success
genshin impact codes for free primogems mora in january 2023
ZEPETO Zems Farming: What Every User Should Know
match masters free boosters match masters daily gifts
Free TikTok Coins: Your Path to Fame
Free Gems in Brawl Stars: The Future of Brawl Gaming
how to get free gems in dragon city 2023 dontruko
hack family island cheats gift codes resources speedup rubies
TikTok Coin Generators: Fact vs. Fiction
Desbloquea Monedas Gratis en TikTok: Tu Guía Definitiva
Maximize Your TikTok Earnings with Free Coins
TikTok Coin Hacks: The Complete Guide
Obtenez des pièces TikTok gratuitement en quelques étapes simples
Free TikTok Coins: The Game Changer
Free TikTok Coins: Insider Secrets
Guadagnare Monete Gratis su TikTok: Sfide e Ricompense
Maximize Your LivU Video Chat Experience with Free Coins
The Ultimate Game Changer: Free Spins in Coin Master
Free Avacoins in Avakin Life: The Key to Virtual Luxury
The Art of Earning Credits in Bingo Blitz

Leave a Reply

Your email address will not be published. Required fields are marked *