The world of cryptocurrency is rarely calm, and the past week has been no exception. Notably, top crypto coins like Bitcoin Cash (BCH) have weathered a rollercoaster ride, soaring with the approval of US Spot BTC ETFs before dipping and subsequently stabilizing. Ethereum Classic (ETC), on the other hand, is poised for a potential breakout from its triangle pattern, fueled by positive technical indicators.Â
Meanwhile, Meme Moguls (MGLS), a newcomer with a play-to-earn gaming feature alongside other ambitious goals, is nearing the end of its presale. Can it revolutionize the memecoin landscape as it intends and position its native MGLS token among the best crypto to buy in 2024? Let’s delve in to find out.
Bitcoin Cash (BCH) Navigates Volatility, Seeks Stability as ETF Hope Simmers
Bitcoin Cash (BCH) has been on a thrilling, albeit bumpy, journey for weeks now. Initially soaring on the wings of US Spot BTC ETF approval, it encountered a reality check, dipping below $250 and leaving some investors feeling deflated. Yet, BCH coin has proven its resilience, stabilizing in the $250-$270 range in the past week.
This rollercoaster ride has sparked a new conversation: the potential for a dedicated BCH Spot ETF. Notably, the success of BTC Spot ETFs, which have attracted inflows of over $2.1 billion since their approval in January, has generated interest in the creation of a similar offering for BCH.Â
However, there has been a series of concerns arising due to BCH’s recent performance, which may impact investor confidence in the network and potentially raise questions or doubts about the feasibility of establishing such an ETF.
Ethereum Classic (ETC) Poised for Breakout? Triangle Pattern Hints at Potential Upside
The price of Ethereum Classic (ETC) is consolidating within a triangle pattern, indicating that the next directional move is pending until a breakout occurs. Currently, the price is trading within a defined range between 61.8% and 78.6% Fibonacci levels, marked at $24.94 and $26.94, respectively.
Based on this premise, there is a potential for an upsurge, as the Relative Strength Index (RSI) is pointing upward and remains above the 50 level. The RSI at 60, however, indicates there is room for further upward movement before ETC becomes overbought.
With these supportive indicators for an upward trend, a surge in buying pressure above current levels could lead to a breakout above the upper boundary of the triangle, targeting the 78.6% Fibonacci level at $28.28. If the current resistance level is overcome, it could pave the way for ETC to reach the psychological level of $30.00, representing a potential 12% increase from the current levels.
Meme Moguls Approaches Presale Conclusion: Potential Revolution in Memecoin Landscape?
Meme Moguls (MGLS) continues to garner increased attention as it approaches the final weeks of its presale campaign. Currently, in the fifth stage of its token presale, the native MGLS token is priced at $0.0036 and is anticipated to witness a 14.29% increase in the upcoming stage, which also serves as the presale finale.
The rising interest in Meme Moguls can be attributed to its departure from the conventional standards seen in memecoin projects. Unlike its predecessors over the past decade, Meme Moguls introduces a distinctive approach, allowing meme enthusiasts to engage with a memecoin.
A standout feature of the Meme Moguls ecosystem is its dedicated play-to-earn game, providing users with not only entertainment but also educational insights into the world of investing, all while earning $MGLS tokens. This unique combination positions $MGLS as one of the best crypto investments for passive gains.
Currently boasting an active user base of almost 4,000 members, Meme Moguls aims to list on Uniswap and other platforms shortly after the conclusion of the presale campaign.
Fundamentally, Meme Moguls emphasizes practical utility, utilizing the $MGLS token as both an in-game currency and a governance token. This distinctive approach establishes Meme Moguls as the next memecoin for 100x gains especially for investors who missed the meme market.