Mad cryptocurrency prices have fallen, but signs of potential growth due to technical patterns and support remain visible.
Current Situation of Mad Prices
Mad prices decreased by 12% in the last 24 hours, trading at $0.00005050 with a trading volume spike of 60% to $11.3 million. Despite the decrease, significant bullish activity is visible on the Mad/USD 4-hour chart, coupled with an inverse head and shoulders pattern suggesting a potential reversal.
Pattern Analysis and Forecasts
The inverse head and shoulders pattern emerged between late November and early December. The neckline breakout near $0.00004506 confirmed further by retesting. The 50-day SMA, trending upwards at $0.00004479, provides short-term support, while the 200-day SMA remains lower at $0.00002923, indicating a strong long-term bullish trend. The RSI at 52.34 suggests balanced price movement. Resistance is anticipated near $0.000070, with increasing volume potentially driving it to $0.00008-$0.00009.
Alternatives: Catslap on the Rise
Catslap's price has surged 5,557% since launching three weeks ago, driven by the popularity of its Slap-2-Earn game. The project has recorded 646 million slaps globally, with 18,796 SLAP token holders. Its visibility is also boosted by its 'Hot Token' status in Best Wallet, reaching over 60,000 users.
Despite Mad's recent price drop, technical analysis indicates potential bullish trends. Alternative projects like Catslap are also gaining traction due to innovative mechanisms and active communities.
