SPACE ID is a blockchain-based decentralized global name service network (Ethereum, BSC, and Arbitrum). It also functions as a Web3 domain and identity management platform, allowing users to register, trade, and administer crypto-based domain names. In a nutshell, SPACE ID is a marketplace that specializes in the sale of name services.

Web3 domains are human-readable names that may be used to access dApps, smart contracts, NFTs, and other blockchain-based services, such as pintu.eth and pintuacademy.eth on the Ethereum network.

The Web3 domain name is a tradable non-tradeable. Users may generate, sell, and maintain SPACE IDs all in one spot. Users must utilize a separate marketplace to acquire and sell domain names than the Ethereum Name Service (ENS).

SPACE ID includes Web3 names for Software Development Kit (SDK) and Application Programming Interface (API) for cross-blockchain developers in addition to people. Its goal is to make it easier to integrate web3 domains into diverse applications.

Instead of selling domains based on the pricing supplied by purchasers, users may now sell them depending on the amount wanted. SPACE ID will now support price matching from high to low based on the current order book.

As Coincu reported, SPACE ID has partnered with the Layer 1 public chain Sei Network, and it will provide the “.sei” domain name to the Sei Network ecosystem. The protocol’s users will be able to utilize Sei’s cutting-edge exchange infrastructure.

#spaceid #crypto2023 #Binance

TL;DR Breakdown

SPACE ID price analysis suggests an uptrend.

Immediate resistance for SPACE ID is present at $0.498.

Support is present at the $0.410 level for the cryptocurrency.

The SPACE ID price analysis demonstrates the price’s recent upward trend, with the price currently rising to the $0.480 mark due to renewed bullish impetus. The price of the cryptocurrency pair has been fluctuating steadily over the past few weeks, but it has been trending downward. However, starting yesterday, the bulls have taken control of the market, and the price is now climbing for a second day.

ID/USD 1-day price chart: ID rejoins $0.480 after gaining 6.5 percent

According to SPACE ID price analysis, the price is rising as a result of the positive momentum that has been steadily advancing since yesterday. As bulls attempt to break the downtrend, the price has risen above $0.480 due to the bullish trend, representing a gain of 6.5 percent over the previous day. Again reflecting the negative pressure, the SMA 20 curve is still trading below the SMA 50. The moving average indicator (MA) has maintained its value at $0.499 due to the generally modest growth. Bulls had yesterday, but today they are moving slowly as the price is getting close to the resistance level.

Since the volatility has been rather strong, additional uptrends could develop in the future. The upper band of the Bollinger bands is at $0.763, which represents resistance, and the bottom band is at $0.409, which represents support. After the price increase, the Relative Strength Index (RSI) score is currently balanced at index 37, but because the price increase has been rather modest, the RSI is now trading at a horizontal line.

SPACE ID price analysis: Recent developments and further technical indications

The price gain that has occurred as a result of the bulls’ recent rebound is confirmed by the four-hour SPACE ID price analysis. After the bears drove the price down, they dramatically increased it yesterday. The bulls were able to reverse the loss, but as the price oscillation is now sluggish, it appears that they are now weary. The moving average (MA) indicator is currently at the $0.460 level and is moving in the direction of the Bollinger bands average line.

Despite the possibility of a crossover between the SMA 20 and SMA 50 curves today, the current situation indicates a slowdown in bullish development. The upper value of the Bollinger bands indicator is $0.507, while the lower value is $0.433. The RSI’s current score of 49, which indicates neither buying nor selling, has helped it avoid a downturn in its curve due to the positive momentum.

SPACE ID price analysis: Conclusion

According to the one-day and four-hour SPACE ID price analysis, today’s price has increased as well. After the positive continuation, the price was seen to be at $0.480. A new rise will start if the cryptocurrency is able to overcome the $0.498 obstacle.

#spaceid #Binance