PIXEL Crypto Sustaining At Support Level, Best Time To Invest?

• Pixel crypto has less than 15% of its total supply in circulation.
• The crypto has high liquidity based on its market cap.

Pixels is a cryptocurrency token utilized in a social web3 game on the Ronin Network. Initially introduced via Binance Launchpool, it transitioned from Polygon to Ronin, fostering player ownership and trade within a community-driven environment. 

The market cap of the crypto is trading flat and has witnessed a slight advance of 0.88% in the last 24 hours. Also, the value of the market cap of the crypto is $519.311 Million.

Also, the market cap ranking of the crypto is 163rd as per CoinMarketCap. The trading volume for the crypto further has witnessed an advance of 25.3% in the last 24 hours. This further results in a volume/market cap ratio of 13.29%.

Furthermore, the circulating supply of the crypto is 771.041M PIXEL which is 15.42% of the maximum supply of the crypto. Also, the total supply and the maximum supply of the crypto is the same resulting in 5.0B PIXEL. 

The fully diluted market cap of the crypto is $3.363 Billion and the market cap dominance of the crypto is 0.02%. Also, the volatility of the crypto is high which results in 9.61% and the fear and greed index of the crypto is at 76 indicating extreme greed.

The crypto was released for the first time on February 19, 2024 and the crypto further hit an all-time high of $1.02. The price of the crypto since then has declined by 34.5% achieved on March 11, 2024.

PIXEL Crypto Technical Analysis

The price of the PIXEL crypto is trading in a bullish trend and the price has been consistently forming higher highs since its release. The price is currently taking support at the breakout level and might advance to higher levels. If the crypto breaks above the latest swing high, the trend will continue.

PIXEL/USD Chart by TradingView

The EMAs depict a bearish behavior in the price of the crypto as the 50-day and the 200-day EMAs are trading in a bearish cross followed by the death cross of the 20-day and the 50-day EMA on the 4H chart of the crypto.

The MACD further follows a bullish cross of the MACD and the signal line on the 4H timeframe chart. The metrics further are approaching towards the zero level and if it further break above the zero level, a bullish move in the price of the crypto might be seen.

The RSI further has recently broken above the 50-level and also is trading above the 14-day SMA. This indicates bullish momentum in the price of the crypto.

Summary

PIXEL crypto sustains at support levels with less than 15% of its total supply in circulation. With high liquidity and a bullish trend, it’s an opportune time to invest. Despite bearish EMA crosses, bullish MACD and RSI signals show a potential for further upward movement, especially if recent swing highs are breached.

Technical Levels: 

• Support Levels: $0.46300 and $0.59700
• Resistance Levels: $0.85400 and $1.0420

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.