Ethereum and XRP: A Test of Investor Confidence
Some crypto investors are worried about the future of Ethereum (ETH) and XRP (XRP) as they struggle to break past key resistance levels.
Meanwhile, a new coin in the crypto space, Moonshot MAGAX (MAGAX), is building a lot of momentum in its presale stage. With Stage 2 of the presale almost sold out, MAGAX is drawing investor attention by offering a new utility model.
ETH Fails to Pass the $4,500 Level
Ethereum recently tried to reclaim the $4,500 level, but the bulls lost steam by the middle of the week. At present, ETH is trading around $4,300, a level that reflects strong support but also reveals investor caution.
Despite mixed technical indicators, with MACD signaling a sell, Ethereum’s price could retest lower supports around $4,044 (50-day EMA) and $3,566 (100-day EMA). However, optimism remains high as ETH has consistently bounced from its ascending trendline, suggesting potential buyer intervention and a possible return to its all-time high of $4,956.
XRP Struggles to Reclaim $3 Support
XRP has faced a lot of challenges in its recent price action today. The token is currently caught between the 100-day EMA support at $2.77 and the 50-day EMA resistance at $2.91, and this creates a narrow consolidation zone.
XRP is likely to continue sideways movement. A persistent sell signal from the MACD since late July hints at potential downside, possibly testing the 200-day EMA support at $2.51. However, the RSI at 44 indicates a balance between buyers and sellers. If the RSI surpasses 50, buying interest could reignite, allowing XRP to reclaim the $3.00 support.
MAGAX’s Loomint AI Pulls Investors Into Presale
While XRP and ETH are consolidating before their breakout, investor attention has turned towards a new project with innovative use cases. Moonshot MAGAX (MAGAX) is now moving quickly through its presale stages. Interestingly, Stage 2 is moving much faster than Stage 1, and that shows that there’s higher demand and investor confidence in MAGAX.
MAGAX is offering something that we can’t find in the meme coin sector, which is real-world utility tied to online culture. Through its Loomint AI platform, MAGAX rewards meme creators and viral promoters with tokens as long as they participate authentically.
How MAGAX’s Ecosystem Rewards Real Community Engagement
Loomint AI will automatically detect viral memes on social media and then send the MAGAX tokens to creators and promoters. The MAGAX token isn’t just used for rewards but is also suitable for staking and referrals.
Everyone that holds MAGAX can make decisions concerning the ecosystem. MAGAX features smart scoring and anti-fraud tools, which ensure that only genuine engagement is rewarded, and not bots.
Investors Buy In At The Lowest Price Ever
The quick sellout of MAGAX’s Stage 2 presale reveals how urgent it is for investors to buy the token at the lowest price available before the next stage. Early adopters see this as the only chance that they have to invest before it’s listed, allowing them to sit on massive growth.
Unlike many other meme coins that crash when investors lose interest, the MAGAX token is designed for long-term value with the deflationary tokenomics. It also allows staking and DAO governance. With all these features, analysts are hopeful that it could hit 166x by 2026.
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