Adventure Gold Sees 13% Rise, But Bitcoin Minetrix Could Be the Next Treasure

The price of Adventure Gold (AGLD) increased more than 13% in the last 24 hours. According to CoinMarketCap, the altcoin was trading at $0.7992 at press time after achieving a 14% gain.

Technical indicators on the cryptocurrency’s daily chart also suggested that its price could continue to rise in the next 24 to 48 hours. This is in contrast to indicators on the AGLD 4-hour chart, which hinted at the possibility of a price correction in the near term.

Technical summary

Daily chart for AGLD/USDT (Source: TradingView)

During the last 3 days, AGLD could turn 2 resistance levels into support. The first level that the altcoin surpassed was the $0.610 barrier. The cryptocurrency’s positive momentum continued to push AGLD value above $0.725.

The cryptocurrency seems to have strong support from the bulls and could soon surpass the $0.850 mark in the coming days. This bullish thesis will remain valid as long as AGLD price remains above the recently surpassed price of $0.725. In this bullish scenario, the altcoin can surpass the $0.850 barrier, which will allow the AGLD price to establish the necessary base to continue rising towards $0.995 in the short term.

However, traders may be looking to take profits in the next 24 to 48 hours. This could introduce some selling pressure on AGLD charts. As a result, the cryptocurrencies The stock could lose the support of the $0.725 mark. Thereafter, the altcoin will be at risk of retesting the $0.610 support level if the potential selling volume proves too overwhelming for the bulls.

Despite the possibility of an AGLD price correction looming, medium-term momentum appears to have shifted in favor of buyers. The strong price movement over the last 3 days resulted in the 20-day exponential moving average (EMA) line crossing above the 50-day EMA line. This was after AGLD recorded stronger positive momentum in the last 20 days than in the last 50 days.

Furthermore, the shorter EMA line separated above the 50-day EMA line. This suggests that AGLD’s positive momentum is strengthening. As a result, the altcoin price may continue to rise in the coming days.

Contradictory indicators

4-hour chart for AGLD/USDT (Source: TradingView)

The technical indicators on the AGLD 4-hour chart suggested that the bulls were slowly losing strength. Consequently, it may only be a matter of time before the cryptocurrency price retraces towards the $0.725 support level.

The first technical indicator that supported this bearish thesis was the Relative Strength Index (RSI) indicator. At the time of publication, TradingView data indicated that AGLD was in extremely overbought territory in the 4-hour period. The RSI line also approached the RSI simple moving average (SMA) line. If these two lines intersect, it could confirm that short-term strength has shifted in favor of sellers.

Along with the bearish trend expressed by the RSI indicator, the Moving Average Convergence Divergence (MACD) indicator also suggested that a bearish reversal could soon occur. More specifically, the gradient of the MACD histogram has changed negatively over the last 12 hours. This may indicate that AGLD’s positive trend is coming to an end.

While investors and traders appear to be making profits from their AGLD positions, bitcoin Minetrix (BTCMTX) is going from strength to strength as the next phase of its pre-sale begins.

The next phase

bitcoin Minetrix officially launched phase 3 of its token pre-sale today. As a result, the price of the project’s native token, BTCMTX, also increased from $0.0111 per token to $0.0112. Anyone purchasing BTCMTX can do so through the official bitcoin Minetrix website. Tokens can be purchased with Tether (USDT), Ether (eth) or bank card.

#BitcoinMinetrix It is now in Stage 3! pic.twitter.com/Od4Syqx7EA

—Bitcoinminetrix (@bitcoinminetrix) October 23, 2023

Breaking milestones

The present day, bitcoin Minetrix revealed on its X page that its pre-sale surpassed the $2 million mark. This is just 3 days after the project surpassed the $1.8 million mark. Anyone looking to purchase BTCMTX should act quickly as the next pre-sale phase will take place in less than 5 days. This new phase will mean another price increase.

Advertisement! #BitcoinMinetrix has achieved a monumental milestone, surpassing $2,000,000 raised!

We are less than 40 minutes away from the start of Stage 3! pic.twitter.com/iZENKYsxcd

—Bitcoinminetrix (@bitcoinminetrix) October 23, 2023

There is also the possibility that this last pre-sale phase ends before the indicated deadline. At the close of this edition, bitcoin Minterix was less than $1 million away from reaching its goal for this round.

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