The Gamestop price is up 11% in the past 24 hours to trade for $0.007817 as of 00:40 a.m. EST.
It comes after GME experienced significant trading activity on Monday, with millions of dollars’ worth of call options bought and hundreds of thousands of put options sold.
$GME option flow report 📝✅🎯
Net call premium spiked shortly after the open with a clear divergence in net put premium as #GME went above $24. Total premium today $40M ($31M call / $9M put)
$30c 7/19 saw 58% ask side volume and was the highest total premium contract traded… pic.twitter.com/buliPZrRR9
— Wolf of My Street🏡 (@Ryan__Rigg) June 25, 2024
This points to a bullish sentiment among investors, with expectations of a short squeeze that could propel the stock price to $150 or higher.
Gamestop Price Prediction
The Gamestop price is trading sideways, rejecting against a further downside. It comes after an 80% drop from the $0.038140 peak recorded on June 7, with a series of lower highs to show for it. Despite the 11% surge on Tuesday, the market continues to favor the downside, with multiple technical indicators supporting this thesis.
The Relative Strength Index (RSI) is subdued below the mean level of 50 and moving horizontally to suggest a lack of conviction among GME bulls. Similarly, the Moving Average Convergence Divergence (MACD) is below its signal line (orange band) and in negative territory. This typically indicates a bearish momentum in the market as the short-term moving average is below the long-term moving average. Investors should expect a potential downward trend.
Such a directional bias could see the Gamestop price drop to $0.005000 psychological level. In a dire case, the downtrend could extrapolate to the bottom of the market range at $0.000488.
GeckoTerminal: GME/USD 1-day chart
Converse Case
On the other hand, if the RSI were able to flip the mean level of 50 into a support, it would signify strength among GME bulls. In such a case, the Gamestop price could climb into the Fibonacci Golden Zone. Nevertheless, for the bullish thesis to be invalidated, bulls must haul GME market value to break and close above the 61.8% Fibonacci retracement level of $0.023757. This would effectively mean the price escaping the Golden Zone.
Beyond this level, and depending on whether the bulls are able to cap their profit appetite, the Gamestop price could test the 78.6% Fibonacci retracement level of $0.030082. In a highly bullish case, the gains could see the Gamestop price extend the climb to the peak of the market range at $0.038140.
Meanwhile, investors are already eyeing MegaDice (DICE), as the new Solana GameFi coin races to the $2 million mark in presale sales. According to Crypto analyst and YouTuber 99Bitcoins, this presale gem could 100X at launch.
Promising Alternative To Gamestop
DICE is the powering token for the Mega Dice ecosystem, a Solana-based online casino that rewards players with crypto. The platform allows users to play games, bet on sports, and earn rewards using their native token, $DICE.
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The Mega Dice platform has been a sensation since its launch in 2023. It is still one of the most popular crypto-oriented online casino and betting platforms. With the launch of the new crypto ICO, the project is set to extend its offerings.
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The project is the first GameFi project on the Solana blockchain, and its aim is to challenge the casino sector titan Rollbit Coin.
The platform already has a user base exceeding 50,000 and 10,000 active players, who wager about $50 million every month. It flirts with over 4000 games from top providers and over 50 sports and eSports. As one of the top brands in the crypto casino space, it focuses on growth and adding value to players.
You can also earn through the platform’s staking option, with the team setting aside 10% of its total 420 million token supply as rewards.
If you would like to join the presale, you can buy $DICE on the official website here for $0.0825 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
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Also Read:
Mega Dice Price Prediction – DICE Price Potential in 2024
How to Buy Mega Dice Token – $DICE Presale Review
Mega Dice Referral Code & Bonus Codes 2024
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