Today I will share a cryptocurrency from the gaming sector: ACE
The fundamentals belong to the web3.0 gaming sector
In the second half of 2023, it experienced a surge, but it was relatively short-lived, and many people have slowly forgotten it now
However, it doesn't matter; cryptocurrencies in the gaming sector, as application chains, must have potential, but finding the dark horse in this track is quite challenging
As long as one does not hold a mindset of getting rich quickly or being a gambler, there are still many stable opportunities
ACE's fundamentals: there is an ecosystem, a tech team, financial support, and a certain customer base, which is quite standard. This type of coin can perform well in short-term trends
With the fundamentals confirmed, the next step is to find buy points from a technical perspective
The following chart shows ACE's weekly trend chart, from which we can draw the following points:
Firstly, the weekly line has been declining since its launch, and it has been nearly a year; from the perspective of price consolidation, it is quite thorough
Secondly, after a long period of decline, the short positions have started to decrease in volume since September, and the price has not broken the previous low; instead, the long positions have begun to gradually increase in volume, breaking the previous high. This indicates that the current market trend is gradually shifting from a downtrend to an uptrend
Thirdly, ACE dropped from $14.39 to $4 in one month and from $4 to $1.75 in five months. Now the market is stabilizing around $2, and it is evident that the short positions have exhausted throughout the decline. From an investment perspective, it is worth buying, with a stop-loss set near a previous low, making this trade clear and straightforward
The current trends in the cryptocurrency market are favorable for those who understand the technology, for those with low psychological expectations, and for those with firm confidence
As long as one possesses these three factors, I believe everyone can achieve results in the cryptocurrency market
