Metacade (MCADE) The price hit its all-time high above $0.045 on Wednesday, with buying pressure leading to an increase in the value of the coin. Entry on the global crypto exchange MEXC Global.
While the outlook for MCADE remains bullish amid various price factors, the token has pared some gains since the ATH. Furthermore, although the price of Metacad has posted over 113% gains in terms of gains since its debut on crypto exchanges in April, it is currently trading at $0.030 after falling double digits in the past 24 hours.
MEXC listing means Metacad continues to hit major milestones
metacade GameFi is one of the largest play-to-earn projects in the space and its listing on MEXC, a top 15 global cryptocurrency exchange and marketplace, is a testament to the market confidence in the project.
MEXC has over 6 million users across 200 countries, and the MCADE listing is set to give the token major market visibility and increase its liquidity. This comes weeks after it was listed on Metacad UniswapThe world’s largest DEX platform – and on BitMart.
Market experts agree Bitcoin is in the early stages of a new bull cycle. This means that Metacad’s arrival on major exchanges and trading platforms could increase the demand for its GameFi token.
Other milestones may soon be hit, including the launch of Gaming Arcade’s app UX Metacde Lite. Users will have a hands-on experience with both Web2 and Web3 games on the platform, bringing Metacade’s goal of bringing gamers, developers and enthusiasts closer together through Ultimate. Web3 Gaming Center.
Partnerships with industry players go well beyond exchanges, with game developers and studios being an important part of the ecosystem goals for the Metacad team.
Metacad price amid macroeconomic events and news
Cryptocurrencies reacted with an uptrend on Wednesday following the latest macroeconomic news from the US, especially the US Federal Reserve interest rate hike and comments from Chair Jerome Powell. With the central bank interest rate now in the range of 5.00-5.25%, the major news from the last Fed meeting was that the hiking cycle may be coming to an end.
exposure banking crisis Also a factor to consider is the Metacad price prediction for 2023 and beyond. This is because chaos in the region, along with a weakening of the US dollar (USD), could strengthen the outlook for bitcoin as a safe-haven asset.
That sentiment has seen crypto fly before, with BTC hitting its all-time high of $69,000 and altcoins rallying to new peaks.
MetaCade Price Prediction: What’s the outlook for MCADE?
MCADE’s breakout from trading between $0.022 and $0.026 saw it rally to its all-time high of $0.045 this week. However, profit-seeking deals have seen the gains evaporate with the formation of a local top for MCADE/USD.
On the 4-hours chart, the price broke below the 50 SMA before the bulls attempted to halt the downside action, threatening to take the price back within the above range. While the 4-hours RSI is at 43, its skewed outlook with a bearish crossover for the MACD indicator suggests that sellers are currently in control.
The short term price perspective for the Metacadre is therefore where buyers tend to place above the moving averages and the previous resistance-support line. If the downside pressure suggested by the technical indicators intensifies, it is possible that the bears will revisit $0.022.
If metacad price If it manages to stay above key support levels and the macro environment favors a new crypto surge, it is likely that MCADE/USD may attempt to reclaim the $0.04 area. Furthermore, it is possible for the token to trade above $0.1 in the coming months.
A target of between $0.5 and $1 in late 2023 or the first half of 2024 could then be on the table if investors are looking to buy into the project to diversify their portfolios. The major catalyst here will be Metacafe’s unique approach to blockchain gaming.
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