Polkadot has performed well so far this year, while Litecoin has floundered. Investors are taking profits from DOT, cutting their losses with LTC, and moving their money to a new Play to Earn gaming project called Meme Moguls. Read on to discover why.
Meme Moguls is a moonshot P2E opportunity
Still in presale, Meme Moguls (MGLS) fuses entertainment with crypto education, memes, and real earning potential.
The native MGLS token has key tokenomics that could fuel a surge to $0.19 in the first year - a 50x gain from current presale levels around $0.0036. This is based on the initial circulating supply of three billion tokens, with 60% already sold in the ongoing presale. Another 12% goes towards ecosystem development, 10% for securing exchange listings, 10% for community rewards, and 8% for the core team.
Meme Moguls will appeal to gamers and meme fanatics beyond just traders. Players can compete for prizes, collect rare NFTs for boosts, and interact in ‘Moguls World’ - the name of the community where moguls can socialize and find the next 1000x crypto. Learning about crypto can now be rewarding and entertaining.
With analysts predicting 50x returns in year one and features like farming, staking pools, and community governance via a DAO, Meme Moguls brings an exciting memecoin and trading game concept with a moonshot token to unite these lucrative niches.
It’s not surprising then that Polkadot and Litecoin holders are investing in Meme Moguls. Read on to find out our price analysis of DOT and LTC.
Polkadot Weekly Chart Technical Analysis
Polkadot (DOT) shows potential signs of bottoming in the longer term after reaching the key support level of around $1.19 based on the classic pivot points. This swing low also lines up with Polkadot’s all-time low. The moving averages have flattened out and turned bullish in the past couple of months with the faster MAs crossing above the slower MAs.
The 10 and 20-week exponential moving averages are sloping up and acting as dynamic support around $5-6. Polkadot recently bounced from this level to close back above the 10-week SMA which is a positive signal. To confirm the uptrend, Polkadot needs to break above short-term resistance at $7 which lines up with the pivot point as well as 50-day SMA.
The 14-week RSI is neutral which allows room for more upside. The MACD histogram bars recently turned positive supporting rising momentum. If Polkadot can maintain it’s recent breakout above $7, the next resistance is at $11 based on the R1 pivot. Beyond that, Polkadot faces resistance at $13 which marks the prior swing high. Holding above the 10 and 20-week EMAs between $5-6 is key for the nascent bullish trend to continue.
Litecoin Weekly Chart Technical Analysis
Litecoin (LTC) has been in a strong downtrend over the past year based on the price history since February 2023. Litecoin’s price has declined from a high of around $104 in April 2023 to current levels of around $69. The 10, 20, 30, 50, and 100-week simple and exponential moving averages are all sloping down, indicating the ongoing bearish momentum.
The Litecoin key support level to watch is around $48 based on the pivot points and prior swing low in December 2023. If the price breaks below this, it could accelerate the downtrend toward the next support around $24. Litecoin’s 14-week RSI is neutral at 47, so there is room for the sell-off to continue before becoming oversold. The MACD recently turned slightly bullish with a positive crossover, but the histogram bars remain negative overall.
To change the tide, Litecoin needs to break the descending trendline resistance around $106 which aligns with the R1 pivot. Clearing this and the 10-week SMA at $70 would confirm the start of an uptrend, with the next resistance at $140 which lines up with the R2 pivot point. Holding above $48 is crucial for LTC to build a base before attempting to reverse the long-term downtrend.
