As the cryptocurrency markets hold steady in the face of economic uncertainty and continue to make headlines, the real star of the show is the technology behind it all: blockchain.
Web3, the next iteration of the internet, aims to decentralize power and control, changing the way information is stored, shared, and owned. And blockchain, a distributed ledger technology providing a transparent and immutable method of storing information, is the backbone of the rapidly evolving Web3.
Three notable cryptocurrencies exemplifying the promise of Web3 are The Graph (GRT), Stacks (STX), and Deelance (DLANCE). STX and GRT’s price movements demonstrate just how important the underlying tech is to the success of a project. Meanwhile, Deelance is showing massive potential even in its presale stage.
The Graph is a decentralized protocol for indexing and querying blockchain data, simplifying the process of accessing complex information from the Ethereum blockchain. GRT’s price has taken off since the beginning of the year.
Stacks is a blockchain linked to Bitcoin, leveraging its security and allowing apps to use Bitcoin’s blockchain. Stacks’ price has also been on a major upward trend.
DeeLance, a Web3 freelancer and recruitment platform, is looking to solve some of the major problems in the freelance platform market.
From Peaks to Valleys: Analyzing The Graph’s GRT Price and Stacks’ Recent Price Movements
The Graph and Stacks have been two of the best-performing cryptocurrencies in 2023, with year-to-date increases of 157% and 279%, respectively.
However, after a strong start to the year, both cryptocurrencies have experienced a sideways or downward trend over the past few weeks. Here’s where the prices of these two cryptos may be headed next.
GRT Price Prediction and Technical Analysis
The moving averages for The Graph are currently displaying a mixed picture.
The 20-day EMA ($0.1435) is slightly above the 50-day EMA ($0.1403), suggesting a short-term bullish trend.
However, the 100-day EMA ($0.1280) is significantly lower, which indicates that the longer-term trend remains uncertain.
Meanwhile, the RSI is at 49.11, which is right in the middle of the oversold and overbought zones, showing that the market sentiment is neutral.
The current trading volume (41.216 million) is lower than the previous day’s volume (64.335 million) and significantly below the volume moving average (115.133 million).
This indicates that traders are not yet showing a strong interest in the asset, but it may change as the price action unfolds.
The GRT price is forming a symmetrical triangle pattern, which suggests that a breakout in either direction might be imminent.
The GRT price is currently trading at $0.1427, down by 2.13% so far today.
GRT Price Resistance and Supports
The immediate resistance level is the Fibonacci 0.5 level at $0.1579, while the support level is at the Fibonacci 0.382 level, $0.1403.
Considering the current technical indicators, it is challenging to provide an accurate long-term price prediction for The Graph.
The mixed moving averages, neutral RSI, and the symmetrical triangle pattern do not provide a clear directional bias.
However, given the nature of symmetrical triangles, a breakout in either direction could lead to a significant GRT price movement.
As a trader or investor, it is essential to keep an eye on the symmetrical triangle pattern and watch for a breakout accompanied by a significant increase in trading volume.
If a GRT price breakout to the upside happens, consider entering a long position or adding to your existing holdings.
If the breakout is to the downside, consider taking profits or implementing stop-loss orders to minimize potential losses.
Traders and investors should closely monitor the price action and be prepared to act according to the breakout direction from the symmetrical triangle pattern.
Stacks Price Prediction and Technical Analysis
Stacks’ price (STX) has been on a downtrend since March 19, when it reached its year-to-date high of $1.3115.
As of writing, Stacks’ price is trading below the 20-day and 50-day EMAs, which suggests a bearish trend.
The 20-day EMA, 50-day EMA, and 100-day EMA of Stacks (STX) are currently at $0.9009, $0.9097, and $0.6559, respectively.
Meanwhile, the RSI is at 41.19, indicating that the market is neither overbought nor oversold, but it leans toward the bearish side.
The MACD histogram has seen a slight decrease from the previous day, from -0.0316 to -0.0327, indicating bearish momentum.
Trading volume has also decreased to 8.17 million from 13.448 million the previous day, which could suggest a reduced interest in STX at the current price level.
Currently, STX is trading at $0.7889, with a decrease of 4.12% so far today.
Stacks Price Resistance and Supports
The Fibonacci 0.382 level at $0.8244, which is in confluence with the 50-day EMA at $0.9097, serves as immediate resistance for upward momentum in Stack’s price, while the Fibonacci 0.236 level at $0.7088 is a potential support level.
Since the Stacks price has experienced multiple rejections from the Fibonacci 0.5 level at $0.9179 in the past week, today’s potential breakdown from the Fibonacci 0.382 level and the 50-day EMA may lead to the price going all the way down to the next support level of Fib 0.236 level at $0.7088.
Traders may want to wait for the Stacks price to stabilize and show signs of a bullish trend before considering a long position.
If the Stacks price shows signs of reversal, the potential support level of 0.236 at $0.7088 may be a good area to consider a long position.
Freelance Market’s Bright Spot
As Web3 ushers in a new era for the internet, it also offers a golden opportunity for the booming freelance economy. Traditional freelancing platforms, which are primarily Web2-based, often suffer from high fees, delayed payments, and a lack of skilled personnel.
Happy Friday!#DeeLance core mission is to Revolutionize the Freelancing industry with Web3 and Metaverse
Everyone should be able to socialize, buy commercial property/NFT & have direct work ownership!
Don't miss out $DLANCE Presale!⤵️https://t.co/XHnTqVzMLN#DeeLanceCoin pic.twitter.com/VmL3qJMaZt
— DeeLance (@deelance_com) April 7, 2023
DeeLance, a Web3-integrated freelance and recruitment platform, aims to address these issues and more.
DeeLance Lights the Way
The platform’s native token, DLANCE, built on the Ethereum blockchain, powers the DeeLance ecosystem. The token is useful and versatile, with a maximum supply of 1 billion and a variety of use cases, including buying virtual land, leasing office spaces, advertising, and accessing premium features.
DeeLance’s unique approach combines three key components: a recruitment platform on Web3, a Metaverse for users to connect with buyers, and a marketplace for non-fungible tokens (NFTs), giving users more control over their work.
These components work in harmony to provide freelancers with the tools and services they need to streamline their entire work process.
The platform’s Metaverse consists of a lobby arena, office space, and meeting rooms, all designed to facilitate seamless interaction and collaboration between freelancers and clients.
With features such as instant payouts, lower fees, and unparalleled transparency, DeeLance offers a fresh alternative to traditional freelance marketplaces.
DeeLance Price and the Token’s Role in the Ecosystem
As mentioned earlier, the DLANCE token serves multiple purposes in the DeeLance ecosystem.
It can be used to purchase virtual land and offices within the Metaverse, allowing users to interact and conduct business in a unique, immersive environment.
Additionally, DLANCE tokens can be used to buy and sell digital assets within the NFT marketplace, as well as to lease office spaces and advertise products or services on the platform.
The ongoing presale of DLANCE tokens has generated significant interest among investors, with the price currently set at $0.025 USDT.
Navigating the DeeLance Presale
For those interested in participating in the DeeLance presale, the process is relatively simple.
Users need to visit the official DeeLance website, create an account, and follow the step-by-step instructions provided to purchase DLANCE tokens.
Hey #DeeLance Community!
We are in the 1st stage of the $DLANCE #Presale!
Don't wait until tomorrow to join us, grab some tokens today and be a part of our growing community! ⤵️ https://t.co/XHnTqVzMLN#Web3 #Metaverse #DLANCE pic.twitter.com/3GRak8vCvY
— DeeLance (@deelance_com) April 7, 2023
The presale offers a tiered pricing structure, with early buyers benefiting from lower prices. As the presale progresses, the DeeLance price will increase.
As the world moves toward a more decentralized and interconnected digital landscape, platforms like DeeLance, The Graph, and Stacks show how Web3 will play a pivotal role in shaping the future of the internet and the wider economy. With the Stacks price and GRT price skyrocketing in recent months, and DLANCE showing huge potential to transform its own niche, the future of Web3 is quickly approaching.
The journey of DeeLance, for one, has just begun. As the presale continues and interest in the DLANCE token grows, we can expect to see the DeeLance price climb as more and more users embrace the innovative Web3-based approach to freelancing.
Related:
- Web3 Freelancers Platform DeeLance Trends on Indian Twitter – Jump Onboard the Presale Now
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This article was written for Business 2 Community by Trent Rhode.
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