Leading multichain project Moonbeam (GLMR) has pumped +17% as crypto markets brace for an upcoming incentive program expected to propel Polkadot network activity to new heights.
The ERC-20-compatible Polkadot smart contract parachain has seen impressive growth in recent weeks, surging to become the most active parachain in the Polkadot ecosystem with more than 60k monthly active users.
This comes as users race to take advantage of the upcoming Moonbeam Ignite program, which will see 12m GLMR tokens rewarded to active users of the popular Stellar Swap DEX and Moonwell DeFi (lending/borrowing) platforms over the next 6 months.
GLMR Price Analysis: Moonbeam Skyrockets Ahead of Moonbeam Ignite Launch
As Moonbeam seems poised to unlock exponential growth, GLMR is currently trading at a market price of $0.24 (representing a 24-hour change of +4.72%).
The impressive +71% bounce from support at $0.16 over the past week comes as crypto markets are invigorated by the potential for ecosystem growth.
In a strong display of stable technical structure, September 25 saw a jaw-dropping +66% candle catalyzed by the 20DMA flipping to supportive under-footing.
The MA20 has acted to suppress upside price action for more than 200 days, since February 26, highlighting the significance of this major directional shift in price movement.
Price is now poised – attempting consolidation at $0.25 – immediately below the 200DMA (currently sat at $0.273 – a level untouched by GLMR price for 164 days since April 16).
A move to reclaim support above the 200DMA would mark an almost complete trend reversal – leaving GLMR staged for a breakout rally.
With technical structure strengthening significantly, Moonbeam’s indicators temper bullish sentiment, with the RSI substantially overheated at 77.34 – an unignorable over-bought signal.
This could indicate a need to consolidate at $0.25, or, could suggest a retracement move back to $0.20.
The MACD in contrast is displaying a strong bullish signal at 0.0107 – reflecting the impressive momentum generated by the Moonbeam Ignite event.
Overall, price action here is attempting to establish a foothold following the dramatic move.
A successful consolidation would leave GLMR poised to push up in days ahead, leaving an upside move targeting a break-out to $0.30 (a possible +20.53%).
However, downside risk if consolidation fails could see price tumble down to lower support at $0.20 (a potential -19.65%).
This leaves Moonbeam with a risk: reward ratio of 1.04 on the short-time frame, a mediocre entry that would be well-served by time-biding and patience.
Yet, while astute investors are awaiting a decisive move, those seeking quick profits are flocking into a promising GambleFi presale that offers the promise of alluring staking returns.
TG.Casino ($TGC): A New Dawn in Crypto Gaming
As Telegram trading bots and GambleFi dominate September’s narratives, the TG.Casino ($TGC) presale is gaining significant attention – racing to $250k raised in just days, here’s why it should be on your radar.
TG.Casino isn’t just another quick Telegram bot pump-and-dump it’s an intricately crafted ecosystem that marries the thrill of the casino world with the decentralized edge of blockchain.
By being a fully licensed casino that integrates seamlessly into Telegram, which boasts over 700 million users, the reach and potential are undeniable.
The ease of use, amplified by a no-KYC protocol, makes it an alluring proposition for both novices and crypto veterans with easy onboarding ensuring a seamless road to new user growth.
With a range of offerings, from thousands of live casino games, slot machines, and table games to an expansive sportsbook, ensures an immersive experience.
And for those keen on kick-starting their journey, the 150% matched deposit bonus on the first deposit plus 500 free spins is the cherry on top.
From a security standpoint, users can rest easy – all data and funds are encrypted, ensuring robust protection against potential threats.
While the $TGC token not only facilitates instant transactions but also serves as the beating heart of this dynamic ecosystem.
The TG Casino Presale: Hype and Beyond
The presale is where things get even more intriguing as the offered staking APY is nothing short of spectacular, standing proudly at 3,446%.
Given that over a million tokens have been staked within a day of the presale launch, the momentum is palpable.
And a well-conceived buyback mechanism ensures price stability and regular rewards, a win-win for the community.
The $TGC token’s utility is another aspect to spotlight – beyond its primary function in the casino world, its adaptability – be it swapped for gaming credits or other cryptos – adds layers to its potential growth.
Its role in transactions, from deposits to withdrawals, signifies its pivotal role in the TG.Casino framework.
To wrap it up, TG.Casino ($TGC) presale is not just an opportunity; it’s a front-row ticket to the future of Telegram GambleFi.
Its blend of a comprehensive ecosystem, enticing financial benefits, and user-centric approach make it a tantalizing prospect.
As always, arm yourself with research, and here’s to successful ventures ahead!
Dive into the TG.Casino Presale Now.
Buy $TGC Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Source: crypto news
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