NEAR and SHIB Meet Resistance in Volatile Markets; DigiHorse Forecasts 2100% Surge
NEARs price shows volatility and a bearish trend, while SHIB struggles at key EMAs despite a BTC-driven recovery. Meanwhile, DigiHorse presale garners significant interest with a predicted 2100% increase by stage two.
NEAR Price Volatility Intensifies
NEARs price has been a rollercoaster, displaying significant trading volatility over the past 24 hours, marked by a bearish outlook in its ecosystem. Coinglass data reveals a downward trajectory in trading volume and open interest for NEAR derivatives, underscoring a cautious stance among investors.
The trading volume for NEAR derivatives slipped by 2.43% to $392.75 million, while open interest the total unsettled contracts in derivatives fell by 1.89% to $110.15 million. These metrics highlight a retreat in trading activity, suggesting a growing bearish sentiment.
Amidst this downturn, NEARs price has fluctuated between $3.48 and $3.87, struggling to regain stability after a sharp early drop. Currently, the price sits at $3.79, down 1.57% from yesterday, though it shows signs of tentative recovery in the face of persistent market pressures.
If the bearish trend continues, NEAR could test support levels near $3.48, with potential further declines to $3.30 or even $3.20, indicating increased market pessimism. Additionally, the Total Value Locked (TVL) in NEARs DeFi ecosystem has dipped to $182.67 million, as per DeFiLlama, reflecting broader challenges within its financial landscape.
Bearish Pressure Mounts as SHIB Exits Falling Wedge
Shiba Inu (SHIB) price narrowly escaped reaching its yearly lows during the latest market downturn, briefly buoyed by Bitcoins resurgence. Despite the broader markets brief positive turn, current analyses indicate a likely extended downturn for SHIB and similar cryptocurrencies. Notably, SHIB broke down from a falling wedge on August 3a pattern usually associated with bullish reversalssignaling unusually strong bearish forces.
Presently, SHIB is entrenched in a downward trend, consistently declining within a falling channel pattern, which underscores its bearish momentum. The price action has found support at around $0.000012, with a stronger support level at $0.00001. Immediate resistance levels are seen at the 50-day ($0.00001425) and 200-day ($0.00001628) exponential moving averages (EMAs).
If SHIB fails to re-enter the falling wedge, the asset could drop by 18% to the previous six-month low of $0.00001082. Additionally, Coinalyze data shows SHIB open interest dropped 4.54% over the last 24 hours, indicating that capital is exiting the Shiba Inu market. This outflow suggests that the recent minor uptrend may be ending, and a continuation of the bear trend could be imminent.
Early Investment in DIGI Token Could Yield Significant Gains
At the core of DigiHorse Empires is the DIGI Token, a cryptocurrency designed to power all in-game transactions, from buying NFT-based horses to entering competitive races. The DIGI presale offers more than a digital currency investment; its a chance to be part of an expanding digital economy.
As the presale kicks off, DigiHorse Empires encourages swift action from potential investors due to the limited availability and expected high demand for DIGI tokens. Early backers are poised for substantial financial benefits as the game launches and gains popularity.
With ambitious forecasts predicting the tokens value could reach $1 within one to two years, early investors could see a staggering 2150% return. In a landscape filled with market uncertainties, DIGI emerges as a promising investment, uniquely situated at the crossroads of Web3 gaming and blockchain innovation, signaling strong potential for growth.
Learn More About the Thrilling Opportunities of DigiHorse ($DIGI) Presale Now!
- Website: www.digihorseempires.com
- Twitter: DigiHorse Empires
- Telegram: DigiHorse Empires Official
- Presale: Join Now
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
