PIXEL Crypto Price Analysis: What’s Next in the Pixels Price?

By Thecoinrepublic.com
about 1 month ago
PXL PIXEL LPOOL RON BNB

PIXEL is a digital currency that serves as the linchpin for a socially-driven web3 game on the Ronin Network. It debuted as the 46th initiative on Binance Launchpool, inviting participants to stake BNB and FDUSD for PIXEL token farming within a set timeframe. With its dual presence on Ethereum and Ronin blockchains, PIXEL exemplifies adaptability and seamless integration across diverse blockchain environments.

As a virtual asset, PIXEL transitioned from Polygon to Ronin, anchoring an interactive gaming platform that leverages Ronin wallets for user engagement. It fosters a player-centric ecosystem with a strong focus on asset ownership and marketplace dynamics, cementing its status in the blockchain gaming landscape.

The inception of the PIXEL project is credited to a team under the guidance of Luke Barwikowski. This collective brings together a spectrum of talents and backgrounds, reflecting a concerted effort in the conception and introduction of the PIXEL experience.

PIXEL Price Analysis VS Volume Analysis 

The PIXEL price is trading below the 50 and 30 moving averages. The volume and price graph shows that the trading volume has decreased in the last few days, and the price has also declined. In the last few days, the price has gone down significantly. Hence, the price is expected to go down in the long term.

PIXEL Crypto Social Dominance vs Social Volume Analysis

The graph of social dominance and social volume shows that awareness and interaction on social media like X, Instagram, and Telegram have decreased, which has negatively impacted the price. The next momentum of the PIXEL crypto price may depend upon social dominance and social volume.

Technical Analysis of The PIXEL Crypto

PIXEL

On the technical chart, PIXEL Crypto displayed seller strength. Additionally, the cryptocurrency is trading below the major EMA, suggesting further weakness. The RSI curve is hovering around 37, which is an oversold zone, and has a negative outlook, implying bearish sentiment in the cryptocurrency. The MACD indicator has formed a red band and a bearish crossover, indicating a corrective move. 

Furthermore, the relative strength index (RSI) has revealed a bearish outlook, trading below the middle band, indicating an increase in selling pressure compared to buying. 

Given the current situation, traders and investors should remain calm and wait for a clear break above or below the range before making any decisions. It is essential to avoid the fear of missing out to minimize losses.

Summary

PIXEL is a digital currency listed on Binance Launchpool and used in a web3 game on the Ronin Network. Its price has been declining and is expected to continue to do so in the long term due to decreased trading volume and social media activity. Technical indicators suggest sellers are in control and the market is oversold, indicating a bearish sentiment. Traders and investors should remain patient and avoid making hasty decisions until a clear trend is established.

Technical Levels

Support Level: $0.3500

Resistance Level:  $0.5200

Disclaimer

It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.

Related News