The DAO Maker (DAO) price has experienced a downward trend since falling below its 100-day moving average on May 13. As the bearish run continues, the DAO price currently trades at $1.153, a 0.58% decrease from the previous day. It lags behind its 20-day EMA and 50-day EMA, which stand at $1.305 and $1.394, respectively.
Despite this ongoing decline, the relative strength index (RSI) testing at 28.86 hints at an oversold condition and possible reversal. Typically, an asset is considered overbought when the RSI exceeds 70 and oversold when below 30. With DAO’s low RSI, selling pressure could soon diminish. This notion is further supported by only a slight shift in the MACD histogram from -0.01399 to -0.01430, indicating a minimal increase in bearish momentum.
The immediate support range for DAO is between $1.089 to $1.109, providing an opportunity for potential consolidation before a bounce back. If the RSI’s bullish divergence plays out, DAO could be propelled closer to its immediate resistance, the 20-day EMA at $1.305.
However, with ever-changing market conditions and the volatile nature of digital currencies, monitoring price movements rather than indicators might be the most reliable way to navigate these unpredictable waters. The price itself paints a complete picture, leaving no room for dispute.
In the meantime, Launchpad XYZ aims to simplify user interactions with web3 technology. Their all-in-one option is particularly useful in the realm of cryptocurrency and NFT trading. To fund its web3 platform development, the project is selling its $LPX tokens through a pre-sale that raised over $800,000.
Presently priced at $0.0445, the cost of $LPX is expected to increase to $0.046 soon. Early purchasers of these tokens during the pre-sale stand to potentially gain from future price appreciation. Assuming the pre-sale attracts more investments, the value of $LPX could increase within weeks.
With industry-leading trading terminals and decentralized cryptocurrency exchanges, Launchpad XYZ is also set to bring multiple web3 options to the market. The platform provides valuable market insights, analysis, and opportunities for users to explore the metaverse and web3 gaming worlds, establishing itself as an inclusive resource.
The $LPX token is poised to be the platform’s native token, and those who stake at least 10,000 tokens will receive various benefits. Considering its capped token supply of 1 billion, a fully diluted market cap of $70 million at launch, and a robust community, the $LPX token heading towards substantial growth in the coming years is a reasonable expectation.
For early adopters enthusiastic about reaping potential gains, now would be a prime opportunity to invest in $LPX tokens during the ongoing pre-sale period. With a listing price of $0.0565 and projected to increase further, the future prospects of Launchpad XYZ could be both promising and lucrative.
Source: Cryptonews
