Ethereum Classic (ETC) Following Bitcoin Squeeze, Algorand (ALGO) Fighting Key Levels

The cryptocurrency market is currently on the brink of a significant transformation, with a potential $300 billion shift in value looming. Major cryptocurrencies like Bitcoin (BTC), Ethereum, and XRP have experienced a surge this year, driven by global wartime inflation fears and heightened market expectations. This seismic shift in the crypto landscape sets the stage for a detailed examination of Ethereum Classic (ETC), Algorand (ALGO), and the emerging ScapesMania, each poised uniquely in this evolving market.

Summary

• ScapesMania: Emerging as a new and promising player in the crypto arena, ScapesMania has captured attention with its innovative approach and successful presale, indicating a bright future as it prepares for listing on major exchanges.
• Ethereum Classic (ETC): Experiencing a significant rally, Ethereum Classic (ETC) has reached a four-month high near $23.00, buoyed by the broader market’s positive reaction to potential developments in Ethereum ETFs by major firms like BlackRock.
• Algorand (ALGO): Demonstrating bullish momentum with a 13% rally since late October, Algorand (ALGO) is on the cusp of a potential breakout, with key resistance and support levels suggesting a possible significant increase in value.

The Emergence of ScapesMania: A New Contender in the Crypto Arena

ScapesMania has rapidly become a synonym for originality in the relatively new cryptocurrency market. ScapesMania stands out from the crowd of underrated altcoins and well-established crypto titans because of its innovative revenue streams and meteoric rise in its presale.

Backed by an award-winning team, ScapesMania is all about safety, having successfully passed audits by top-tier security labs. With a presence on key exchanges on the horizon, ScapesMania is poised for visibility and liquidity, which are going to fuel its growth.

Find Out More on the Official Site

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What is a Presale?

The purpose of a crypto presale is to provide interested parties a chance to learn about and perhaps buy a new coin before it is officially released and listed on online trading platforms. Plus, it’s a great way to acquire tokens at a much lower price than they will be once the project goes live.

The current ScapesMania presale is gathering steam by the day, giving traders a small window of opportunity to leverage this token while it is still in its initial stages. Joining the presale enables you to save significantly as ScapesMania is expected to surge in value upon listing. Such offers don’t last long – as the clock is ticking, the opportunity to acquire discounted ScapesMania tokens is slipping away.

Is ScapesMania Going to Be the Hottest Altcoin of 2023 and Beyond?

Several factors point to ScapesMania being the most promising new cryptocurrency of 2023:

• Innovative Mechanisms: ScapesMania allows crypto-savvy people to benefit from the multi-billion gaming industry;
• Straightforward Tokenomics: The project’s tokenomics are cutting-edge and simple to understand since they avoid any ambiguity;
• Rising Presale Numbers: ScapesMania’s impressive presale statistics indicate that it is gaining significant traction in the crypto world.

Ethereum Classic (ETC): Capitalizing on Market Developments

Ethereum Classic (ETC) has experienced a significant rally, reaching a four-month high near $23.0, as reported by Invezz. This surge comes in the wake of news that BlackRock, a major asset management firm, is focusing on an Ethereum ETF. The broader market’s reaction to this development has positively impacted Ethereum Classic (ETC).

Ethereum Classic (ETC) price range currently lies between $15.5 and $18.7. The 10-Day Moving Average is at $18.6, while the 100-Day Moving Average stands at $16.2, indicating a bullish trend. The support levels are set at $10.3 and $13.5, with resistance levels at $19.9 and $23.0.

The recent developments surrounding Ethereum and the potential for an Ethereum ETF have injected optimism into Ethereum Classic (ETC) market. Ethereum Classic (ETC) price is likely to be influenced by the broader market sentiment towards Ethereum, especially if the ETF news continues to drive positive momentum. However, it’s crucial to consider the inherent volatility of the crypto market and the potential impact of broader economic factors. The resistance level near $23.0 could be a critical point to watch, as a sustained break above this level could signal further upward movement, while failure to breach this resistance could lead to a consolidation or correction in price.

Algorand (ALGO): On the Verge of a Breakout

Algorand (ALGO) has been showcasing a bullish momentum. The cryptocurrency has rallied by 13% since October 28, indicating a strong positive trend. This surge is seen as the precursor to a potential breakout that could lead to a significant increase in its value.

Currently, Algorand (ALGO) price is oscillating between $0.094 and $0.119. The 10-Day Moving Average stands at $0.120, suggesting a bullish trend, while the 100-Day Moving Average is at $0.101. The support levels are identified at $0.052 and $0.078, with resistance levels at $0.129 and $0.155.

Algorand (ALGO) is at a critical juncture, facing the $0.110 resistance level, which was a support level from June to August. A successful flip of this level into a support floor could signal a 22% breakout rally to $0.135. If Algorand (ALGO) can further extend this uptrend and flip the $0.135 hurdle into support, it could pave the way for a retest of the next resistance level at $0.159, and potentially up to $0.195. However, it’s important to note that this bullish outlook hinges on the market’s continued positive sentiment. A daily candlestick close below the $0.0902 support level would invalidate this bullish thesis and could lead to a 10% drop, revisiting the August 17 swing low of $0.0818.

Concluding Thoughts

Ethereum Classic (ETC), Algorand (ALGO), and ScapesMania each present unique opportunities and challenges in the ever-evolving cryptocurrency market. While Ethereum Classic (ETC) and Algorand (ALGO) have established themselves with solid foundations and promising market dynamics, ScapesMania emerges as a potential game-changer with its innovative approach.

The unique gaming-related core idea, impressive presale numbers, and other positive aspects indicate that ScapesMania will continue on its winning journey. So, it makes sense to get involved as soon as possible.

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• Source: https://thecryptobasic.com/2023/11/11/ethereum-classic-etc-following-bitcoin-squeeze-algorand-algo-fighting-key-levels/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-classic-etc-following-bitcoin-squeeze-algorand-algo-fighting-key-levels