According to Transfero, the correction of bitcoin shows it is losing momentum. According to the company’s analysis, the US$ 57.2,000 support was broken, however, without volume. This made the price return above that level in the seven days ended November 25, when the assessment was made.
“This is a good sign, as it shows that trading volume in this range has been high, with bullishs outperforming bearishs”, the analysts said.
According to Transfero’s team of experts, you can see (in the chart below) that the market is in a zone of lateralization, in which prices range between US$ 55.2 thousand and US$ 60.1 thousand. “It is possible that BTC will move within this range in the next few days, since the movement of altcoins is gaining strength. It is even possible that there will be a break down of this range, taking the price to the US$ 51.2 thousand support”, the analysts said.
It is important to note that the Fear & Greed index registered a fall of 22 points since the previous week, reaching the 32-point mark. This investors’ concern made room for new buying opportunities according to Transfero’s assessment.
In addition, BTC dominance has dropped considerably, pointing to an appreciation in the altcoins market. Some of the main highlights were coins related to the “gaming” category, such as GALA, which has valued more than 200% in the last seven days (considering the period from November 18 to 25), and the “metaverse” application, as was the case of MANA (Decentraland), which rose more than 40% in the same period.
Star Atlas stands out
According to Transfero, one of the most promising games of the coming years, Star Atlas, follows the play-to-earn model on Solana’s blockchain, promising to revolutionize the industry with amazing graphics. The game objects are NFTs that can be traded via the ATLAS token.
In addition, the POLIS token will also be part of this ecosystem, and token holders will have voting rights in discussions about the game’s development.
“It is worth noting that in the period between November 18 and 25, the token reached its historical market cap high, surpassing US$ 425 million, with a valuation of more than 50%.