Metacade price has jumped 4% in the last 24 hours, giving bulls some joy, with MCADE/USD currently trading at $0.021 and up 20% in the past week. The token has seen its 24-hour trading volume rise to $226,368, up 57%.
The bounce off a key support level suggests a new bull run could be on the horizon, especially with Metacade building the ultimate Web3 hub and MCADE available to the broader market after hitting major cryptocurrency exchanges.
At current price levels, the token looks like a solid buy. Short term, the next target could be $0.026, although the 20-day moving average line may offer an area of crucial resistance at $0.022 and $0.025. If price rejects here, it could fall to support levels beneath the psychological $0.020.
What is Metacade?
Metacade is a new community-driven gaming arcade powered by blockchain technology and Web3. The Ethereum-based game platform is designed to make Metacade the home of metaverse arcade games, bringing together game developers, players and crypto enthusiasts. There will be everything from casual games to competitive tournaments available to cater to all types of gamers.
Users of the platform will leverage the utility of the native MCADE token to tap into earning opportunities. Governance, staking and trading of MCADE all combine with games from different developers and studios to give token holders even more ways to benefit from their investment.
Will Metacade price reach $5 in 2024?
It’s difficult to predict with certainty where MCADE will trade next, but it has the potential to rally to new highs in coming months. If the token continues to push higher, it could surpass its peak and see more than 50% in upside bounce to $0.045. The 20-day moving average line may provide resistance at $0.022 and $0.025, and if it holds, then MCADE could fall to support levels beneath the psychological $0.020.
The $5 price level is achievable in 2024 or in the medium term given the market cycles. However, it might be unrealistic to expect MCADE to roar to $5 this year.
What could catalyse a new Metacade price rally?
Potential catalysts for a MCADE rally include the overall bounce in crypto markets, turbulence in traditional finance that sees risk appetite shift more to cryptocurrencies and a resurgence in investor interest in crypto gaming tokens. The token is also backed by a strong team, a clear roadmap and is designed to be used across a growing gaming ecosystem.
If you are considering buying MCADE, it is important to do your own research. You can start by visiting the Metacade website for more information about the project, team and roadmap.