3 Reasons to Invest in Metacade After the 275% Rally.
Metacade (MCADE) is one of the best performing cryptocurrencies in the world, soaring more than 275% from its all-time low since going public in April this year. This impressive performance is not only due to the general bullishness of the cryptocurrency market, but also three main reasons why Metacade’s price is likely to continue surging in the near future.
Firstly, macro events support cryptocurrencies and other assets. The Federal Reserve’s decision to raise interest rates by 0.25% brought them to around 5.25%. Analysts believe that the Fed has now ended its hike cycle as there are signs that the American economy is slowing. In addition, the banking sector is facing the biggest risks in years, with several banks collapsing. Therefore, it is likely that Metacade and other altcoins will do well because of Bitcoin’s role as heaven.
Second, important news can push the token higher. The number of MCADE holders has steadily increased in recent weeks, and the token is gaining traction. Additionally, developers are working to list tokens on more centralized exchanges, with Binance and OKX among the potential lists. The developer is also working on a Metacade game, which is expected to launch soon. Historically, crypto tokens have tended to do well ahead of major events.
Third, technical support. On the four-hour chart, Metacade’s price has been bullish in recent weeks, moving above the key resistance at $0.034, a high on April 20. It has now retested the price in what is known as a break and retest pattern, backed by the 50-period moving average. Hence, the token will bounce back as buyers aim for the all-time high of $0.045.
In conclusion, Metacade (MCADE) is a cryptocurrency that has shown impressive growth potential, and there are three main reasons why its price is likely to continue surging in the near future. Firstly, macro events support cryptocurrencies and other assets. Second, there is important news that could push the token higher. And third, technical support. Therefore, investing in Metacade may be smart for investors looking to add a potentially high performing cryptocurrency to their portfolio.