cryptocurrency market rally

The cryptocurrency market was eagerly awaiting the results of December’s Consumer Price Index that were released earlier today, and the numbers didn’t disappoint. Data shows that the US inflation rate has fallen to 6.5%, down from 7.1% in November’s report–creating an immediate a crypto market price rally.

This is a significant indicator for economists, especially considering the macroeconomic factors and interest rate hikes of the past year. It was predicted that the data would indicate a sixth consecutive month of declining rates, and the numbers now confirm that projection.

The crypto market’s total market capitalization has struggled to break through the key resistance level of $821 billion, but that all changed this morning when lower-than-expected inflation readings have led investors to hope for a shift away from high-interest rates.

Tradingview currently lists the total market cap of the crypto market as $838 billion, while Bitcoin and Ethereum are seeing greater gains than most of the top cryptos at the moment. Meanwhile, Avalanche’s AVAX is pumping hard after news that is bringing mainstream attention to the blockchain industry once again.

Bitcoin Price Leads Crypto Market Price Rally

Bitcoin, the world’s largest cryptocurrency by market capitalization, is currently trading at $18,114.33 and has seen a growth of 4.32% in the past 24 hours and 7.34% in the past week.

The current market sentiment suggests that Bitcoin could rise even higher and break through an immediate double top resistance level of $18,250 and aim for the next resistance levels of $19,000 or $19,450.

The Relative Strength Index (RSI) of 74.04 is indicating that the asset is in overbought territory, but BTC’s price could still continue to rise, as the EMAs and SMAs also support the bullish sentiment. The 10-day EMA and SMA are both above the current price, indicating a strong uptrend. Similarly, the 20-day, 30-day, 50-day, 100-day, and 200-day EMAs and SMAs are all above the current price, with the exception of the 200-day SMA which is slightly below the current price.

Overall, while it is in overbought territory, the current market sentiment and technical indicators suggest that Bitcoin could continue to rise in the short-term and break through resistance levels.

Ethereum Technical Analysis and Price Prediction

Ethereum, the second largest cryptocurrency, has seen a growth of 4.56% in the past 24 hours and 10.78% in the past week, currently trading at $1,401. The digital asset has crossed the $1,400 mark for the first time in two months, and investors are optimistic about a possible reclaim of lost highs.

The recent surge in ETH’s price has also improved its technicals, as it is now ahead of all of its major moving average indicators, ranging from the 10-day MA of $1,399 to the 200-day MA of $1,357. A sustained rally is not unexpected, as the MACD is also showing a positive buy signal. However, the relative strength index (RSI) of 73.36 indicates it is approaching the overbought region.

Avalanche (AVAX): An Indicator of Larger Crypto Market Price Rally?

Avalanche (AVAX), a blockchain platform, is currently experiencing some of the highest gains among the top 30 cryptos, with a growth of 20.54% in the past 24 hours and 26.98% in the past week. Recently, Amazon Web Services (AWS) has partnered with Ava Labs, the company behind Avalanche, to support the scaling of blockchain adoption across businesses, institutions, and governments. The partnership aims to make it easier for individuals to launch and manage nodes on Avalanche, while also giving the network more strength and flexibility for developers. Ava Labs also plans to add its Subnet deployment as a managed service to the AWS marketplace, enabling both individuals and institutions to launch their own custom Subnets easily.

“This is the beginning of something much, much bigger,” John Wu, president of Ava Labs, said in an interview with TechCrunch on Wednesday, noting that Subnets will make it possible for developers “to spin up their own blockchain, a full blockchain, in Amazon very easily.”

Investing in Undervalued Projects During the Bear Market

If the current market trend continues, now could be a good time to take positions as the bear market has left many projects undervalued that have massive potential when the bull market returns. One way to gain access to these opportunities is by participating in presale events, where investors have a chance to purchase tokens at discounted prices before they hit public markets. Plus, presales often come with bonuses as well.

Investors must carefully analyze projects before investing, taking into consideration the team’s background and expertise, existing investor interest, as well as any tangible use cases that could be used to tackle real-world issues. Three such tokens that meet these standards are MEMAG, FGHT and CCHG.

Meta Masters Guild: MEMAG-nifying the Gaming Experience

Meta Masters Guild (MMG) is a new player in the world of gaming, introducing a revolutionary concept that combines high-quality mobile games with blockchain technology to create a decentralized gaming ecosystem. The project aims to change the rules of the gaming industry and in the crypto play-to-earn sector. MMG’s platform is mobile-first which allows for lower development costs in comparison to other AAA games.

One of the key features of the MMG ecosystem is that players truly own in-game assets, which are verifiable and tradable on the Ethereum blockchain, creating a sense of ownership and community among players. The first game on the platform is Meta Kart Racers, a Multiplayer Online Racing Arena (MORA) type of game, more games and indie developers will be joining the ecosystem as it expands. With its emphasis on mobile gaming and decentralized platform, MMG is looking to attract a large player base and change the way we play and earn in the gaming industry.

Investors are eagerly watching the MEMAG token presale, which has recently launched and so far raised $54k in only 24 hours. At present, its price point is at $0.007 but this will move up to $0.01 during the next phase of its presale–with a total fundraising goal of approximately five million dollars ($4,970,000).

Visit Meta Masters Guild Now

FGHTing for Fitness: How Fight Out is Revolutionizing the M2E Space

Fight Out is an innovative fitness platform that aims to revolutionize the way people earn rewards for their physical activity. The company’s platform combines smart technology, blockchain, and a supportive community to help users reach their health and fitness goals. Through participating in challenges and completing workout regimes, users can accumulate REPS tokens that can be used to redeem discounts on subscriptions, merchandise, and more.

Fight Out’s unique approach includes an NFT-based avatar that tracks users’ physical achievements and levels up as they progress. This system provides a tangible way for users to see their progress and stay motivated. Additionally, the company is planning to open physical gym locations around the world, featuring state-of-the-art equipment, Web3-connected technology, and an ambassador program featuring top athletes who will hold masterclasses and other exclusive events.

The company’s token has been generating a lot of interest among investors, raising almost $2.9 million in a matter of weeks. The Fight Out team is experienced and inde, and with the support of partners such as LBank Labs, Cryptonews.com, Transak, and BlockMedia Labs, the project is poised for success. The presale is ongoing, and investors have the opportunity to get involved with up to a 50% bonus on investments above $50k

Visit FightOut Now

C+Charge Up Your Wallet: Invest in CCHG Tokens and Join the EV Revolution

C+Charge is a cutting-edge platform that is revolutionizing the way EV owners charge their vehicles. With its peer-to-peer payment system and rewards app, it is making it easier and more affordable for EV owners to charge their vehicles. Utilizing blockchain technology, C+Charge connects EV owners to charging networks that are otherwise difficult to locate and allows them to pay for their charging sessions with ease, while also earning carbon credits in the process.

The growing number of EVs on the road today, along with the need to manage the associated costs of charging, highlights the need for a platform like C+Charge.

C+Charge is also addressing several pain points of the current EV charging industry, such as the lack of transparency in pricing, lack of real-time information and the shortage of charging solutions. By providing innovative solutions to these problems, C+Charge aims to make EV charging more efficient, environmentally-friendly, and convenient.

This platform offers EV owners the opportunity to calculate and track charging costs, while landlords and businesses can see energy expenditure and charges specifically for EV charging to guarantee that non-EV drivers won’t face any additional electric bills.

The presale of C+Charge token has now begun, with an introductory rate of $0.013 USDT per token. The token price will increase over the course of three additional stages, with the final maximum price of $0.02350. This is an opportunity for investors to be part of a project that is making a real impact in the EV industry.

Visit C+Charge Now

The release of the December Consumer Price Index and the subsequent fall in the US inflation rate has led to a crypto market price rally, and although the crypto market is in overbought territory, the current market sentiment and technical indicators suggest that the rally could continue in the short-term. This could lead to a consolidation period and a possible bull run leading into 2023 or even later in 2024. Whatever happens, chances are now is a good time to start loading up on some promising tokens in preparation for the next bull run, whenever it might come.

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C+Charge - Next 10x Crypto with Real Life Utility

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  • Democratizing Carbon Credits
  • Incentivizing Wider Adoption of EVs
  • Real Life Use Case for Web3 Technology
  • First Platform Allowing EV Owners to Earn Carbon Credits On or Off Chain
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