MyNeighborAlice Price Up By 13.21% – Time to Buy ALICE Coin?
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
While the broader crypto market is experiencing massive sell-offs, non-fungible tokens (NFTs) are posting exponential growth. One of such is MyNeighbor Alice which has led several investors to buy ALICE.
Built on the Ethereum network, the NFT protocol is a multiplayer builder game that makes blockchain gaming appealing through its fun storyline and intuitive blockchain-powered features.
The technical and fundamental analysis of the asset will help us evaluate the growth of the ERC-20 token.
ALICE: ALICE Market Performance
The crypto market has been awash with an admixture of bullish and bearish seasons. Following a recent bullish run of form, the nascent industry is experiencing hiccups as the bears regain control.
MyNeighbor Alice seems to be catching a late crypto boom and is up a significant figure in the past day. The digital token is up 13.21% at press time, with its price value pegged at $16.41.
Weekly gains stand at 17.31%, reflecting a strong bullish interest. With a good price action, ALICE’s market cap is up 18.38%, shooting the token’s valuation to just north of $500 million and a fully diluted market valuation of $1.6 billion.
The digital token’s 24-hour trading volume is also surging as ALICE is up 167.55%, with over $757.8 million currently changing hands.
ALICE has been keeping tabs price-wise with the crypto market – rising with crypto bellwether Bitcoin and dipping with the broader crypto space.
This movement saw it surge to an all-time high (ATH) of $40.93 on March 15, before retracing the gains. This has seen the ERC-20 token dip more than 60%, with today’s rally supercharging its rise back to crypto renown.
With NFTs gaining mainstream adoption and the metaverse narrative picking up steam, MyNeighbor Alice is likely set for major growth. This makes this an opportune time to buy ALICE.
ALICE Technical And Fundamental Analysis
ALICE may have shaved off half of its value, but the blockchain-based asset is seeing strong growth.
The digital asset is trading well above the 20-day moving average (MA) support price of $14.61. This shows a short term bullish sentiment in the market.
The 200-day MA support price of $10.99 indicates that ALICE will likely continue its bullish season well into the future.
The 14-day relative strength index (RSI) figure of 60.40 reveals that ALICE is still largely underbought while presenting a viable option to buy ALICE and rise with the market.
The moving average convergence and divergence (MACD) indicator point to a buy signal as the green trendline leads the orange counterpart. This also reflects growing market confidence in the potential of the blockchain gaming protocol.
MyNeighbor Alice’s remarkable run of form in a bear market can be attributed to its recent foray into the Metaverse sub-sector. In a recently released blog post, the multiplayer blockchain-based game announced that it was launching a Metaverse grant in collaboration with other blockchain platforms, namely Chromia and the Mines of Dalarnia. The joint venture fund will see about $80 million pumped into the program.
According to the release, the program is geared towards providing support to the most promising ideas in the rapidly evolving Metaverse narrative. This will see development teams building add-ons and in-gaming assets securing a portion of the funds.
The MyNeighbor Alice protocol, which is scheduled to launch in Spring 2022, is still under development. However, the project has just concluded its pre-alpha testing phase. In a blog post, the protocol said the alpha testing was a success.
Buy ALICE at eToro from just $50 Now!
